Simpson Thacher represented the initial purchasers, led by Wells Fargo Securities, LLC, in connection with the notes offering by Chord Energy Corporation (“Chord Energy”) of $750 million aggregate principal amount of 6.750% Senior Notes due 2033. Chord Energy intends to use the net proceeds from the offering to (i) fund Chord Energy’s tender offer to purchase any and all of Chord Energy’s 6.375% Senior Notes due 2026 (the “2026 Notes”) pursuant to an offer to purchase (the “Tender Offer”), (ii) redeem any remaining outstanding 2026 Notes following the Tender Offer, (iii) repay a portion of borrowings outstanding under their credit facility and (iv) pay fees and expenses associated therewith. Simpson Thacher also represented Wells Fargo Securities, LLC, as dealer manager in connection with the Tender Offer.
Chord Energy is an independent exploration and production company engaged in the acquisition, exploration, development and production of crude oil, natural gas liquids and natural gas, primarily in the Williston Basin. Chord Energy is committed to responsibly producing hydrocarbons while exercising capital discipline, operating efficiency, safely and responsibly to develop its onshore oil-rich resources in the continental United States.
The Simpson Thacher team included Brian Rosenzweig, David Azarkh, Richie Ragusa, Ryan Poché, Suzannah Ranzo, Emily Martin and Hayden Stoeber (Capital Markets); Jon Cantor and Paul Jansch (Tax); Michael Isby (Environmental); Bobbie Burrows and Christian Bond (Intellectual Property); Pasco Struhs (Executive Compensation and Employee Benefits); and Jennie Getsin (FINRA).