Paul Hastings LLP is acting as Special Oil and Gas Counsel to Osprey Energy Acquisition Corp., an energy-focused special purpose acquisition entity, in its pending acquisition through a business combination of the assets of Royal Resources, an entity owned by funds managed by Blackstone Energy Partners and Blackstone Capital Partners.
The Royal assets to be acquired represent the entirety of Blackstone’s mineral interests in the Eagle Ford Shale, and the transaction will create a company with a total enterprise value of approximately $894 million.
Upon the closing of the business combination, Osprey will be renamed Falcon Minerals Corporation and will be reorganized to operate as an “Up-C”, where its operating assets are held in a separate limited partnership to be named Falcon Minerals Operating Partnership. The formation of Falcon Minerals creates a unique, high growth, core-of-the-core oil and gas minerals company with top-tier Eagle Ford and Austin Chalk asset positions covering 251,000 gross unit mineral acres.
Energy M&A partner Jimmy Vallee (Picture) and Energy M&A associate Isaac Griesbaum led the Paul Hastings team, which included partners Lindsay Sparks and Greg Nelson, associates Monica Diddell and Stephen Perry, and members of Paul Hastings land team Norman Carnahan, Craig Richey and Sajan Abraham.
Involved fees earner:
- Jimmy Vallee – Paul Hastings;
- Isaac Griesbaum – Paul Hastings;
- Monica Diddell – Paul Hastings;
- Stephen Perry – Paul Hastings;
- Lindsay Sparks – Paul Hastings;
- Greg Nelson – Paul Hastings;
Law Firms: Paul Hastings;
Clients: Osprey Energy Acquisition Corp.;