The law firm of Haynes Boone served as lead counsel to Chesapeake Energy Corporation in the sale of the Brazos Valley region of its Eagle Ford asset to WildFire Energy I LLC for $1.425 billion.
The sale, announced Jan. 18, 2023, involved approximately 377,000 net acres and approximately 1,350 wells in the Brazos Valley region.
"Today marks an important step on our path to exiting the Eagle Ford as we focus our capital on the premium, rock, returns and runway of our Marcellus and Haynesville positions," Chesapeake President and Chief Executive Officer Nick Dell'Osso said in a statement announcing the sale. "We remain actively engaged with other parties regarding the rest of our Eagle Ford position."
The Haynes Boone team was led by Jeremy Kennedy, a partner in the Energy, Power and Natural Resources Practice Group. The team included Partners Stephen Grant, Mary Mendoza, Brandon McCoy, Kraig Grahmann, Raquel Alvarenga and Michael Threet, and Associates John Craven and Will Johnson.
Haynes Boone’s Oil and Gas Practice represents domestic and foreign public and private companies that conduct operations both internally and across the United States in the domestic resource plays and shale plays (including the Midland and Delaware Basins, Eagle Ford, Barnett, Haynesville, Wolfberry, Marcellus, Utica, Niobrara, Woodford, and Bakken/Three Forks).
Haynes Boone’s M&A Practice Group has comprehensive experience handling middle-market deals, having helped clients close more than 500 transactions in the last five years, with an aggregate value exceeding $40 billion. The firm routinely represents private equity firms, closely held corporations, founders, large financial institutions and Fortune 500 public companies.