Kalnin Ventures Signs Sixth Marcellus Shale Acquisition

December 14, 2017

The $105 million acquisition marks the sixth transaction Willkie advised Kalnin on in two years.

Willkie client Kalnin Ventures LLC (“Kalnin”), through its BKV Oil & Gas Capital Partners, L.P. fund (the “Fund”), announced that it had entered into a purchase and sale agreement with respect to its sixth acquisition of upstream oil and gas assets located in the northeast Marcellus shale play of Pennsylvania.

The transaction was valued at an aggregate price of $105 million, with potential additional payments to the seller of up to $7.5 million over the next two years depending on natural gas prices. The transaction is anticipated to close in the fourth quarter of 2017 (subject to customary closing conditions). With its sixth transaction in just over two years, Kalnin has invested $522 million through the Fund in the Marcellus Shale and is poised to fully invest its first fund as it continues to expand and diversify its strategy of acquiring, managing and monetizing portfolios. Willkie has represented Kalnin in all six transactions.

The asset acquisition was handed by partners Michael De Voe Piazza, Cody Carper and Robert Jacobson, counsel Scott Arenare and associates David Aaronson, Lynn Abell, Yaniv Maman and Cody Dreibelbis.