Willkie represented Live Oak in the transaction.
On August 18, Live Oak Resource Partners and Posse Resources announced the closing of the sale of Live Oaks’ mineral and royalty assets held by Live Oak Resource Partners I, LP (“Fund I”) to Posse, through Posse’s newly created entity, Oak Ridge Royalties, LP.
The transaction includes all of Live Oak Fund I’s remaining north Louisiana mineral & royalty assets, consisting of ~4,800 net royalty acres (normalized to 1/8 royalty), with production across the Haynesville Shale, Bossier Shale, and Cotton Valley formations.
Live Oak Resource Partners is a privately held firm based in Houston focused on the aggregation and management of royalty and mineral interests and non-operated working interests in the Haynesville Shale of north Louisiana and east Texas. In the last five years, the Live Oak team has closed over 600 transactions covering more than 18,000 royalty acres.
Posse Resources (formerly Peter Paul Petroleum Co.), founded in 1967, is a family-owned private company based in Houston. Posse focuses on the acquisition and management of mineral and royalty properties and non-operated working interests, primarily in Louisiana, Texas and Oklahoma, among other areas within the U.S.
The Willkie deal team was led by partner Michael Piazza and associates Adam Whitehouse and Luisa Davis.