Bracewell Represents Halcón Resources in $325 Million Transaction With WaterBridge Resources
HOUSTON – Bracewell LLP represented Halcón Resources Corporation in the divestiture of all of its water infrastructure assets across the Delaware Basin to a subsidiary of WaterBridge Resources LLC for up to $325 million. The transaction officially closed in December 2018.
In addition to $200 million received in cash, Halcón has an opportunity to earn potential incentive payments of up to $25 million per year for each of the next five years ($125 million total) subject to its ability to meet certain annual incentive thresholds.
Halcón is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States.
For addition information on the deal, please click here.
Bracewell lawyers involved in this transaction included:
Partners: W. Cleland Dade, Lytch T. Gutmann, Daniel E. Hemli, Jason B. Hutt, Austin T. Lee, Elizabeth L. McGinley, Steven J. Lorch, Aaron P. Roffwarg and Timothy A. Wilkins
Counsel: Jacqueline R. Java and Tamara L. McKinzie
Associates: Catherine B. Engell and Jay N. Larry