Haynes Boone represented 1776 Energy, a subsidiary of The Huff Energy Fund, L.P., in the sale of its oil and gas interests in South Texas to Silver Hill Energy Partners, LP. The transaction included the acquisition of 100 percent of 1776 Energy’s interests in oil and gas properties, rights and related assets primarily located in Karnes and Gonzales Counties in South Texas.
The assets from 1776 Energy comprise approximately 17,500 net acres and 550 gross drilling locations in the Eagle Ford and Austin Chalk formations. Silver Hill funded the acquisition with equity from Silver Hill Energy Partners IV, LP and another Silver Hill-sponsored partnership, along with debt from a reserve-based credit facility arranged and led by Wells Fargo Securities, LLC.
The Haynes Boone team representing 1776 Energy and The Huff Energy Fund was led by Partner Hugh Tucker, with assistance from Counsel John Craven and Associate Will Johnson. Additional support included Partners Jeremy Kennedy, Brandon Jones and Stephen Grant, Associates Sam Richards and Farhad Tahir, and Land Professionals Randy Browne and Ashleigh Gibbs.
“This transaction underscores the continued demand for high-quality Eagle Ford assets,” said Tucker. “It was a pleasure to work with the 1776 and Huff Energy teams on a deal that positions the assets for continued development while delivering significant value to our client.”
Haynes Boone’s market-leading Energy Practice Group consistently ranks among the most active legal advisors for U.S. deals in the energy industry. The group represents domestic and foreign public and private companies that conduct operations both internally and across the United States in the domestic resource plays and shale plays (including the Midland and Delaware Basins, Eagle Ford, Barnett, Haynesville, Wolfberry, Marcellus, Utica, Niobrara, Woodford and Bakken/Three Forks).
