Sidley is representing Ensign Natural Resources LLC (Ensign) in the purchase of assets in the Eagle Ford Shale from Reliance Eagleford Upstream Holding LP, including approximately 62,000 net acres in Bee, DeWitt, Karnes, and Live Oak Counties, Texas, and current net production of approximately 18,000 barrels of oil equivalent per day. This acquisition increases Ensign's current ownership to 100% in the leases and wells it acquired from Pioneer Natural Resources USA, Inc. in 2019 and Newpek LLC in 2020. Upon closing of the acquisition, Ensign will own and operate 130,000 acres in the core of the Eagle Ford Shale with current production approaching 40,000 barrels of oil equivalent per day, making the company one of the premier private operators in the basin.
The Sidley M&A team was led by partners Tim Chandler and Jim Rice, with support from associates Jeff Kinney, John Brannan, and Haley Cambra. The Sidley Finance team was led by partner Daniel Allison with support from associates Quan Lu, Alejandro Ruiz, and Michael Schlinkert. Partner Zack Pullin provided tax support on the transaction.
The Sidley M&A team was led by partners Tim Chandler and Jim Rice, with support from associates Jeff Kinney, John Brannan, and Haley Cambra. The Sidley Finance team was led by partner Daniel Allison with support from associates Quan Lu, Alejandro Ruiz, and Michael Schlinkert. Partner Zack Pullin provided tax support on the transaction.