White & Case Advises Sixth Street on a US$402 Million Overriding Royalty Transaction with Antero Resources
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Global law firm White & Case LLP has advised an affiliate of Sixth Street Partners, LLC ("Sixth Street"), a leading global investment firm, in a US$402 million overriding royalty interest ("ORRI") transaction with Antero Resources Corporation ("Antero"), a company focused on exploration in the Appalachian basin.
Proceeds of the US$300 million were paid by Sixth Street at closing and up to an additional US$102 million will be paid over the next 12 months. The ORRI transaction is described in more detail in Antero Resources Corporation's press release.
Sixth Street is a global investment firm with over US$34 billion in assets under management and committed capital. Sixth Street has more than 275 team members including over 140 investment professionals operating from nine locations around the world. Through its dedicated energy team based in Houston, Sixth Street invests in and partners with energy companies to finance, acquire, develop, and operate energy-related assets.
The White & Case team was led by partner Mingda Zhao in Houston and included partners Emery Choi, Mark Holmes, Jorge Mattamouros and Chad McCormick in Houston; Ian Cuillerier, Seth Kerschner, Josh Berman, Thomas MacWright and David Thatch in New York; William Guerrieri in Chicago; Cristina Brayton-Lewis in Washington, DC; counsel Morgan Hollins in Houston; associates Meredith Craven, Hannah Craft, Kabir Phaguda, Michael Rodgers and Nicole Rodriguez-Fierro in Houston, Rhys Bortignon, Carla Moore and John Ramirez in New York.
Spilman, Thomas & Battle, PLLC and Buchanan, Ingersoll & Rooney, PC handled local law issues.
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