Akin Gump Advises Tapstone Energy in Sale to Diversified Energy Company

(Dallas) - Tapstone Energy Holdings, LLC ("Tapstone") and its affiliate KL CHK SPV, LLC have consummated a transaction with Diversified Energy Company PLC ("DEC") pursuant to which DEC acquired Tapstone and substantially all of the assets of affiliated entity KL CHK SPV, LLC, which includes upstream assets, field infrastructure, equipment and facilities in the Anadarko Basin of Oklahoma. A team from Akin Gump advised Tapstone in the transaction.

Pursuant to a strategic participation agreement with DEC, funds managed by Oaktree Capital Management, L.P. made a non-operated working interest investment in the acquisition. Total gross consideration was $419 million, subject to certain customary purchase price adjustments to the August 1, 2021 effective date.

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The Akin Gump team was led by energy transactional partner Jessica Hammons and Dan Fisher, head of the firm's special situations group. Additional members of the team included:

This is the most recent of a number of matters involving Akin Gump and Tapstone. The firm advised Tapstone noteholders in the company's 2020 restructuring (learn more here). In addition, last year, a team from Akin Gump advised the company in a stalking horse bid for certain assets of Templar Energy (learn more here).

Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.

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