Press Release
October 3, 2022

Holland & Knight Represents Alpha Energy Partners in Sale of Certain Non-Operated Interests to Northern Oil and Gas

DALLAS (October 3, 2022) – Holland & Knight represented Alpha Energy Partners in its agreement to sell certain non-operated interests in the Delaware Basin to Northern Oil and Gas, Inc. (NOG) for an initial purchase price of $157.5 million in cash, subject to typical closing adjustments. NOG expects to fund the acquisition with cash on hand, operating free cash flow and borrowings under NOG’s revolving credit facility.

NOG may deliver Alpha Energy Partners additional cash consideration depending on average front month NYMEX WTI pricing during the first six months of 2023.

The assets are located in Lea and Eddy counties, New Mexico, and Loving County, Texas, and include approximately 2,800 acres. The primary operator of the assets is Mewbourne Oil. Other operators include Conoco and EOG.

The effective date for the transaction is Sept. 1, 2022, and NOG expects to close the transaction in December 2022.

Alpha Energy Partners is a privately held oil and natural gas company based in Midland, Texas, that is actively acquiring assets across the Permian Basin.

Holland & Knight Partner Robert Dougherty led the transaction for Alpha Energy Partners, along with Associate Aaron Powell. They were assisted by Partners Brandon Bloom, Todd Keator and Ashley Phillips, and Associates Morgan Moore and Anna Boyer. 

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