Simpson Thacher is representing First Reserve Corporation and its portfolio company Templar Energy LLC in connection with a $1.0 billion acquisition of oil and gas assets located in the Texas Panhandle and western Oklahoma from Forest Oil Corporation. The transaction is expected to close on or before November 25, 2013, and is subject to customary purchase price adjustments, regulatory approvals and closing conditions.
The acquisition is being made by Templar Energy LLC, an oil & gas exploration and production company formed by First Reserve and the Templar management team earlier this year. Templar is focused on investing primarily in mature, liquids-rich producing basins in the Mid-Continent Region.
The Simpson Thacher team for the transaction includes Bill Curbow, Jay Blackman and Wabi Jain (M&A); Robert Rabalais, Matt Einbinder, Erland Modesto and Eddie Bontkowski (Banking and Credit); Michael Isby and Tim Mulvihill (Environmental); Lori Lesser and Alexander Key (IP); Krista McManus (Real Estate); and John Creed and Devin Heckman (Tax).
