Paul Hastings Advises Lenders in Financing Fieldwood's Acquisition of Assets from SandRidge Energy

March 07, 2014

New York, NY-- Paul Hastings LLP, a leading global law firm, represented Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Goldman Sachs Bank USA as joint lead arrangers and Citibank, N.A. as administrative agent in connection with the financing for Fieldwood Energy LLC’s acquisition of certain offshore Gulf of Mexico and onshore Gulf Coast oil and gas assets from SandRidge Energy Inc.

The financing consisted of $175 million of incremental commitments under Fieldwood Energy LLC’s existing reserve-based revolving credit facility, $200 million of incremental first lien term loans under Fieldwood Nergy LLC’s existing first lien term loan facility and $418 million of incremental second lien term loans under Fieldwood Energy LLC’s existing second lien term loan facility.

Leveraged Finance partner Richard Farley led the Paul Hastings team, which also included associate Shekhar Kumar.

Paul Hastings’ Leverage Finance practice has also recently advised on the financing of the acquisitions of Chuck E. Cheese’s operator by Apollo Global Management, John Deere Landscapes LLC by Clayton, Dubilier & Rice, LLC and Fieldwood Energy LLC’s acquisition of certain offshore oil and gas assets of Apache Corp.

Paul Hastings LLP is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.

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