Kelly Hart & Hallman LLP represented various entities controlled by the Bass family in the sale of over 275,000 acres of Permian Basin and other producing assets for $5.6 billion in stock, and an additional $1 billion in contingent cash payouts. The assets produce more than 18,000 oil-equivalent barrels per day. The bulk of the acreage is held in contiguous production units held by production in the New Mexico Delaware Basin.
The deal closed on March 1, 2017. Leading the Kelly Hart team were corporate partners, Cal Jackson and Robin Perras; and Bob Grable, partner and the senior member of its Oil & Gas/Energy practice group. Other team members included: energy partner and Chair of the firm’s Oil & Gas/Energy practice, Todd Spake; energy associate, Drew Neal; energy and environmental partner, and partner-in-charge of Kelly Hart’s New Orleans office, Loulan Pitre; tax partners, Chester Grudzinski and Sean Bryan; tax associate, Jacob Birnbaum; corporate partner, David Cook; corporate associate, Jarratt Watkins; and employment partner, Henry Robinson.