Hunton Andrews Kurth Represents Midland Petro DC Partners LLC and Related Affiliates in a $330 Million Transaction with Northern Oil and Gas Inc.

Hunton Andrews Kurth LLP represented Midland Petro DC Partners LLC (“MPDC”) and its affiliates in the negotiation and execution of definitive agreements for the sale of non-operated working interests in certain oil and gas properties in the Midland Basin of Texas to Northern Oil and Gas Inc. (“NOG”) for $330 million. The sale includes producing properties and associated midstream assets, plus 62 gross in-process and future wells in the core of the Midland Basin. The firm also represented MPDC in negotiations with its lenders and third party investors in matters relating to the transaction. The closing of the transaction is subject to customary conditions precedent and is scheduled to close in early 2023.

NOG is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil and gas properties, with a core area of focus in the premier basins within the United States. MPDC is a private oil and gas company based in Midland, Texas.

The Hunton Andrews Kurth team was led by corporate partner Mike O’Leary and included assistance from corporate partner Ian Goldberg, counsel Cheryl Philips and associates Alex Miron and Alexa Williams. The team also included tax partner Alison Mantor and finance partner Jared Grodin.