HubsBaker Botts Represents Kimbell Royalty Partners, LP in $404 Million Acquisitions of Haymaker Minerals & Royalties, LLC and Haymaker Resources, LP
Release
Deal Description: On May 29, 2018, Kimbell Royalty Partners, LP, a leading owner of oil and gas mineral and royalty interests across 20 states, today announced that it has agreed to acquire the mineral and royalty interests held by Houston-based Haymaker Minerals & Royalties, LLC and Haymaker Resources, LP in a transaction valued at approximately $404 million. The purchase price for the acquisition is comprised of $210 million in cash and 10 million common units of Kimbell, valued at approximately $194 million. Kimbell will raise the cash portion of the purchase price through a private placement of 7.00% Series A Cumulative Convertible Prefered Units for gross process of $110 million and through borrowings of $114 million under a new $200 million revolving credit facility. In addition, Kimbell announced a proposed election to change its tax status from a pass-through partnership to a taxable entity.
Baker Botts represented Kimbell Royalty Partners, LP in this transaction.
Baker Botts Lawyers/Office Involved:
Jason Rocha (Houston, Partner); Clint Rancher (Houston, Partner); Rachael Lichman (Houston, Partner); Joshua Davidson (Houston, Partner); Mike Bresson (Houston Partner); Eileen Boyce (Senior Associate Houston); Laura Katherine Mann (Senior Associate, Houston); Chad Davis (Associate, Houston); Jennifer Gasser (Associate Houston); Kate McEvilly (Associate, Houston); Sunil Jamal (Associate, Houston); Steven Lackey (Associate, Houston).
Baker Botts represented Kimbell Royalty Partners, LP in this transaction.
Baker Botts Lawyers/Office Involved:
Jason Rocha (Houston, Partner); Clint Rancher (Houston, Partner); Rachael Lichman (Houston, Partner); Joshua Davidson (Houston, Partner); Mike Bresson (Houston Partner); Eileen Boyce (Senior Associate Houston); Laura Katherine Mann (Senior Associate, Houston); Chad Davis (Associate, Houston); Jennifer Gasser (Associate Houston); Kate McEvilly (Associate, Houston); Sunil Jamal (Associate, Houston); Steven Lackey (Associate, Houston).
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