Willkie represented Kayne Anderson Capital Advisors in its equity commitment to Ensign in this transaction.
Ensign Natural Resources LLC, an exploration and production company, announced the purchase of Eagle Ford acreage in South Texas from Pioneer Natural Resources USA, Inc. The transaction includes approximately 59,000 net acres in Bee, DeWitt, Karnes, Lavaca and Live Oak Counties and current net production of approximately 14,400 barrels of oil equivalent per day. The purchase supports Ensign’s focus on becoming a core operator in the Eagle Ford shale.
Ensign was formed in late 2017 in partnership with Warburg Pincus, a private equity firm focused on growth investing. As part of this transaction, Ensign has also secured an equity commitment from the Kayne Private Energy Income Funds, an investment platform dedicated to partnering with high caliber management teams to acquire and develop large producing oil and gas assets in North America.
Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading alternative investment management firm focused on energy, infrastructure, real estate, credit, and growth equity. Kayne manages approximately $30 billion in assets for institutional investors, family offices, high net worth and retail clients and employs 350 professionals in five offices across the U.S.
Pioneer Natural Resources is a large independent exploration and production company, headquartered in Dallas, Texas, with operations in the United States.
The Willkie deal team was led by partners Steven Torello and Michael De Voe Piazza, and included associates Will Thanheiser and Audra White.