White & Case Advises Kimbell Royalty Partners on US$143.1 Million Acquisition of Mineral and Royalty Interests from MB Minerals
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Global law firm White & Case LLP has advised Kimbell Royalty Partners, LP, a leading owner of oil and gas mineral and royalty interests, on its acquisition of mineral and royalty interests from MB Minerals, LP, a subsidiary of Sabalo Holdings, LLC, in a cash and unit transaction valued at approximately US$143.1 million.
Upon closing, Kimbell is expected to have more than 16 million gross acres, more than 125,000 gross wells and 97 active rigs on its properties, which represents approximately 13 percent of the total active land rigs drilling in the continental United States.
Kimbell Royalty Partners is a leading oil and gas mineral and royalty company based in Fort Worth, Texas. Kimbell owns mineral and royalty interests in 28 states and in every major onshore basin in the continental United States, including ownership in more than 124,000 gross wells with more than 48,000 wells in the Permian Basin.
The White & Case team was led by partners Jason Rocha and Charlie Ofner, and included Mergers & Acquisitions law clerk Christopher Hebert and associates Trace Hancock and Muhammad Hasan; Capital Markets associate Chris Carreon; and Tax partner Chad McCormick and associate Neil Clausen (all in Houston).
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