White & Case advises Kimbell Royalty Partners on its US$290 million acquisition of mineral and royalty interests from Hatch Royalty, LLC and tandem common unit offering

Global law firm White & Case LLP has advised Kimbell Royalty Partners, LP, a leading owner of oil and gas mineral and royalty interests, on its US$290 million acquisition of certain mineral and royalty interests held by Austin-based Hatch Royalty, LLC, and its tandem registered underwritten equity offering of 6,000,000 common units representing limited partner interests.

The mineral and royalty interests to be acquired are located in the Permian Basin, including over 200,000 gross acres mostly concentrated in the Texas Delaware Basin. The acquisition is expected to close in the fourth quarter of 2022, subject to customary closing conditions. Kimbell announced that gross proceeds from the offering, before underwriting discounts and expenses, are expected to be approximately US$106.5 million. The equity offering is expected to close on November 8, 2022, subject to customary closing conditions.

Kimbell is a leading oil and gas mineral and royalty company based in Fort Worth, Texas. The company owns mineral and royalty interests in over 16 million gross acres in 28 states and in every major onshore basin in the continental United States, including ownership in more than 122,000 gross wells with over 46,000 wells in the Permian Basin.

The White & Case team was led by Capital Markets partner Jason Rocha and M&A partner Charlie Ofner (both in Houston), and included associates Chris Hebert (Miami) and Trace Hancock (Houston); Tax partner Chad McCormick, and associates Neil Clausen and Sadi Moradi (all in Houston); and Capital Markets associates Rachel Collier, Alexander Bischoff, Fatima Hassan Ali, Chris Carreon and Muhammad Hasan (all in Houston). Law clerk Jamie Scherbeh assisted on the matter.

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