Porter Hedges Represents Hackberry Management LLC in connection with the Acquisition of OLIPDP II, LLC, an Affiliate of Oliphant Energy II, LLC

Porter Hedges represented Hackberry Management LLC and certain of its affiliates in the negotiation, financing and closing of a definitive agreement to acquire 100% of the issued and outstanding membership interests of OLIPDP II, LLC, from an affiliate of Olifant Energy II, LLC, by GDE Gulf Coast, LLC. The acquired company’s primary assets are conventional producing oil and gas wells in multiple onshore fields located along the upper Gulf Coast of Texas and South Louisiana. The transaction closed September 25, 2024, but effective April 1, 2024, with equity financing provided by GDE Gulf Coast, LLC, and secured debt financing provided by Fortress Credit Corp., as lead lender and administrative agent for the lenders.

GDE Gulf Coast, LLC is an entity based in Lafayette, Louisiana, created to acquire and own 100% of the Membership Interest of OLIPDP II, LLC.

Hackberry Management LLC is a newly formed entity based in Lafayette, Louisiana, created to provide contract services for GDE Gulf Coast, LLC and the lenders for managing and operating the oil and gas producing assets of OLIPDP II, LLC.

OLIPDP II, LLC will continue to be the owner and operator of the producing properties. In connection with the foregoing transaction, the principals of Hackberry have also been named as officers of OLIPDP II, LLC.