Simpson Thacher Represents KKR in Investment in Hilcorp Joint Venture
06.14.10
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The Firm is representing Kohlberg Kravis Roberts & Co. L.P. (“KKR”) in connection with its investment of up to $400 million in a newly formed partnership created to own and develop Hilcorp Energy Company’s (“Hilcorp”) oil and gas properties located in the Eagle Ford Shale trend of South Texas. Upon the closing of the transaction, KKR and certain affiliates of Hilcorp will hold 40% and 60% of the equity interest in the joint venture, respectively, and Hilcorp will be responsible for the management of the day-to-day operations.
Hilcorp is currently one of the largest privately-owned independent oil and natural gas companies in the United States and is the largest producer of conventional oil in South Texas.
The Simpson Thacher team for the transaction includes Andrew Smith, Atif Azher, Jason Breen and Taylor Bentley (M&A); Brian Steinhardt (Credit); Nancy Mehlman and Jennifer Klein (Tax); Mark Brod (Securities); Alvin Brown and David Schneider (Executive Compensation and Employee Benefits); and Adeeb Fadil and Noreen Lavan (Environmental).