A Locke Lord team led by Hunter Summerford represented WildHorse Resource Development Corporation (WRD) in a definitive purchase and sale agreement to divest its North Louisiana assets to a third party for approximately $217 million. In addition, WRD could receive contingent payments of up to $35 million based on the number of wells spud by the buyer on the North Louisiana assets over the next four years. The WRD assets include approximately 90,000 net acres of leasehold and approximately 423 operated wells. The transaction is expected to close on March 30, 2018. For more information, please see the press release. Additional team members included Greg Heath, Jerry Higdon, Terry Radney, Ed Razim, Buddy Sanders, Mitch Tiras and Kerstie Moran (all of Houston).
Posted February 12, 2018