T&K Mentioned in Law360 on Ajax Resources as Deals of the Week

“Don’t Miss It: Hot Deals & Firms We’re Watching This Week”

Houston-based oil and gas company Ajax Resources LLC and private equity firm Kelso & Co. snapped up W&T Offshore Inc.’s interest in the Yellow Rose field in the Permian Basin of west Texas for $376.1 million.

Under the terms of the deal, W&T will hold onto a 1 percent to 4 percent slide scale residual overriding royalty interest in the Yellow Rose field.

Debevoise is guiding Kelso, while Kirkland is steering affiliates of the private equity firm. The Debevoise team is led by partner Kevin M. Schmidt. The Kirkland deal team is led by corporate partners Will Bos, Andy Calder, Amber Meek, Mary Kogut and Lucas Spivey.

Thompson & Knight LLP is advising Ajax. Jefferies LLC is acting as sole M&A adviser to Kelso and Ajax.