Us: Langford Energy Partners Enters Midland Basin With Acquisition From Murchison Oil & Gas

Affiliates of Langford Energy Partners ('LEP'), a privately held oil & gas operating company, have closed on the acquisition of Midland Basin assets from Murchison Oil and Gas.

Management Comments

Lance Langford, LEP’s CEO, stated, 'LEP’s acquisition represents a great opportunity for our team to add to its long history of operating success and delivering value to investors. We will leverage this asset as an anchor for expansion through additional bolt-on acquisitions in the Midland Basin.'

Bud Brigham, the company’s Executive Chairman added, 'I’m thrilled that LEP has captured what we believe is a high-quality asset with the ideal profile to complement our stated strategy. On a personal note, it’s exciting to re-enter the area of the Midland Basin where I began my career and drilled my first wells.'

Acquisition Highlights

Financing

LEP funded the acquisition with equity from its flagship fund, Langford Energy Partners I, LP, and senior bank debt from a new credit facility led by Texas Capital Bank.

Advisors

Vartabedian Hester & Haynes LLP, Vinson & Elkins LLP, and Kirkland & Ellis LLP served as legal counsel to LEP.

RBC Richardson Barr served as exclusive financial advisor and Holland & Knight LLP served as legal counsel to Murchison.

Original announcement link

Source: Langford Energy Partners