A Locke Lord team led by Hunter Summerford represented WildHorse Resource Development Corporation (WRD) in the completed divesture of its North Louisiana assets to a third party for net proceeds of 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 included approximately 90,000 net acres of leasehold and approximately 423 operated wells. The transaction closed on March 29, 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