Deal of the Week: V&E, Latham Work on Houston Energy Deal
Quantum Energy Partners will initially invest up to $1 billion in oil and gas entity that will be managed by Linn Energy of Houston.
April 10, 2015 at 01:06 AM
2 minute read
Vinson & Elkins assisted Quantum Energy Partners in negotiating a $1 billion investment in an oil and natural gas acquisitions and development entity that will be managed by Linn Energy of Houston.
Linn Energy turned to Latham & Watkins for the transaction.
On March 24, Linn Energy and LinnCo announced the signing of a nonbinding letter of intent with Quantum, a private capital investor in Houston that was a founding investor in Linn, to fund an entity called AcqCo. Quantum has agreed to initially fund up to $1 billion in equity capital, and Linn will have an opportunity to participate in all of the acquisitions with a direct working interest ranging from 15 to 50 percent. Linn will manage AcqCo assets in return for reimbursement of general and administrative expenses.
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