Kirkland & Ellis LLP acted as legal counsel for IOGR, while Holland & Hart LLP acted as legal counsel for Tier 1.
IOG Resources, LLC (IOGR) announced its decision to acquire producing oil and gas assets in the Delaware Basin from Tier 1 Merced Holdings, LLC. The assets consist of non-operated wellbores primarily located in Eddy and Lea counties, New Mexico. With this acquisition, IOGR adds net production of approximately 3,800 boe/d under top-tier operators including Devon, Conoco, and Marathon.
IOG Resources, LLC is a Dallas, Texas-based energy investment platform sponsored by First Reserve. The company was established in 2017 and invests in diversified upstream oil and gas assets as a non-operated working interest partner.
First Reserve is a private equity firm exclusively focused on investing across diversified energy, infrastructure, and general industrial end-markets. Founded in 1983, First Reserve has 39 years of industry insight, and has cultivated a network of global relationships.
The Kirkland team was led by corporate partners Rahul Vashi (Picture) and R.J. Malenfant and associate Braxton Smith; tax partner Joe Tobias; environmental transactions partner Ty’Meka Reeves-Sobers and associate Alex Noll; and debt finance associate Scott Reid.
The Holland & Hart transactional team was led by senior partner Jean Feriancek.
Involved fees earner: Jeanine Feriancek – Holland & Hart LLP; R.J. Malenfant – Kirkland & Ellis; Alex Noll – Kirkland & Ellis; Ty’Meka Reeves-Sobers – Kirkland & Ellis; Scott Reid – Kirkland & Ellis; G. Braxton Smith – Kirkland & Ellis; Joe Tobias – Kirkland & Ellis; Rahul Vashi – Kirkland & Ellis;