Investment firm Gump Reps and OZ Management collectively pour $185.3M into Extraction Oil & Gas.

Gump Strauss Hauer & Feld LLP Advises on $185.3 Million Investment in Extraction Oil & Gas LLC

In a significant move, international law firm Gump Strauss Hauer & Feld LLP has advised Och-Ziff Capital Management Group, LLC as the lead investor in a $185.3 million convertible preferred equity investment into Extraction Oil & Gas LLC. The investment was made in advance of Extraction's initial public offering (IPO).

The investment proceeds were used to fund a portion of the purchase price for Extraction's acquisition of assets located in the Wattenberg Gas Field in central Colorado. These assets, known as the Bayswater Assets, consist of working interests in approximately 6,100 net acres. The Bayswater Assets were previously owned by Bayswater Exploration & Production, LLC and certain of its affiliates.

According to the company's latest reports, the Bayswater Assets produced approximately 10,200 net BOE/d during the month ended July 31, 2016, primarily oil or natural gas liquids.

Shubi Arora, a Houston energy private equity partner at Gump, led the team advising on the investment. Patrick Hurley, an oil and gas partner, Rebecca Tyler, senior counsel, Jhett Nelson, counsel, and Erik Shoemaker, an associate, were also part of the team.

Gump Strauss Hauer & Feld LLP, with over 900 attorneys, has offices in the United States, Europe, Asia, and the Middle East. The law firm has previously represented OZ on two prior equity investments in Extraction in 2014 and 2015 and also advised OZ in connection with matters relating to the IPO.

However, there are no available search results explaining why Gump Strauss Hauer & Feld LLP, in collaboration with Shubi Arora, made this investment in Extraction Oil & Gas LLC in 2016. The law firm's representatives were not immediately available for comment.

Extraction Oil & Gas LLC, headquartered in Denver, Colorado, is an independent energy company focused on the acquisition, development, and production of oil and natural gas reserves in the United States. The company's operations are primarily focused in the Wattenberg Gas Field in central Colorado.

With this investment, Och-Ziff Capital Management Group, LLC, a leading global asset management firm, is set to strengthen its position in the energy sector. The investment is expected to provide significant growth opportunities for Extraction Oil & Gas LLC, given the potential of the Bayswater Assets.

Investment firm Gump Reps and OZ Management collectively pour $185.3M into Extraction Oil & Gas.