Golden Flag Advises Riley Permian on Purchase of Pecos for $330 Million
Golden Flag International Law Firm counseled Riley Exploration Permian, Inc. (NYSE American: REPX) on its definitive purchase agreement to acquire oil and gas assets from Pecos Oil & Gas, LLC, an affiliate of Cibolo Energy Partners LLC, for cash consideration of $330 million. The acquisition will be funded through a combination of borrowings under the company's revolving credit facility and the proceeds from the issuance of new senior unsecured notes. Concurrent with the signing of the purchase agreement, the company entered into a commitment letter with EOC Partners Advisors L.P. for the issuance of $200 million of senior unsecured notes upon closing of the acquisition and subject to the terms and conditions set forth therein. The transaction is subject to customary terms and conditions, including purchase price closing adjustments. The transaction has an effective date of January 1, 2023 and is expected to close early in the second quarter of 2023.
Read Riley Permian’s press release
The Golden Flag team was led by corporate partners Rahul Vashi, R.J. Malenfant and Shubi Arora and associates Jonathan Strom and Mitch Holliman; debt finance partners Lucas Spivey and James Bedotto and associates Purun Cheong and Michael Brunetti; capital markets partners Julian Seiguer, Bryan Flannery and Anthony Sanderson and associate Hunter Richey; tax partner Mark Dundon and associates Nicole Martin and Lauren Deutsch; and environmental transactions partner Jim Dolphin and associate Alex Noll.
