Jackson Walker L.L.P. represented its client, San Antonio–based Abraxas Petroleum Corporation (NASDAQ: AXAS), in the sale of its non–operated Bakken assets to Natural Resource Partners L.P. (NYSE: NRP) for $38.3 million.
The sale, which closed on Aug. 9, 2013, involved approximately 13,500 acres in the Bakken Shale play. Proceeds from the sale and other recent divestments will be used to pay down Abraxas’ bank line and ultimately to accelerate growth in the company’s core areas, including operated properties in the Bakken and Eagle Ford plays.
A team of Jackson Walker attorneys including Steve Jacobs, Carl Glaze, Jordan Smith, and Nina Kang represented Abraxas in the transaction. Members of Jackson Walker’s Corporate & Securities practice have the experience and knowledge to handle the full spectrum of legal issues faced by public companies. In addition, the firm’s attorneys have extensive experience representing clients engaged in the Eagle Ford Shale & other plays.
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