DLA Piper advised Kayne Anderson Capital Advisors LP and Houston-based Haymaker Minerals & Royalties LLC and Haymaker Resources LP in the sale of oil and gas mineral and royalty interests to Kimbell Royalty Partners LP for approximately US$404 million in a transaction comprised of cash and stock.
Founded in 2013, Haymaker has invested capital on behalf of Kayne Anderson and KKR & Co. LP to acquire over five million gross mineral acres through more than 700 individual transactions.
Following the closing of the acquisition, Kayne Anderson and KKR, along with Haymaker management, will collectively own approximately 37 percent of the then outstanding common units of Kimbell. The deal is expected to close in the third quarter of 2018.
The DLA Piper team involved in the deal included Jack Langlois, US co-chair of the firm's Energy sector (Houston), partners Gislar Donnenberg and Glenn Reitman (both of Houston), Gerald Rokoff and Jeffrey Salinger (both of New York); and associates Kurtis Weaver (Boston), Todd Mobley (Dallas) and Jibin Luke, Ansley Newton and Courtney Wade (all of Houston).