Deal description: Peak 10 Energy (“Peak 10”) today announced its launch as an oil and gas investment platform focused on acquiring long-life oil and gas assets throughout the continental United States. Peak 10’s asset base consists of non-operated oil and gas properties in Reeves, Fisher, Scurry, Gaines, Dawson and Andrews Counties, including over 100 producing wells and a multi-year drilling program of tier 1 undeveloped drilling opportunities.

Building on a portfolio of long-life Permian Basin assets, Peak 10’s inaugural platform acquisition is its purchase of non-operated upstream oil and gas and associated water handling and recycling assets in the Eastern Shelf of the Permian Basin in Fisher and Scurry Counties, Texas, which closed with a private seller on August 23, 2023.

Peak 10’s capitalization consists of cash, contributed assets and future capital commitments from Legacy Star Capital Partners, a Texas-based asset management firm, as well as debt financing from Prudential Private Capital, Prudential Energy Capital Partners, LP., and Production Lending, LLC, which in aggregate are estimated to exceed $500 million in balance sheet resources.

Legacy Star and Peak 10 are advised by Baker Botts LLP.

Baker Botts Partners/Offices Involved:

Corporate: Clay Brett (Partner, Houston), Sarah Dodson (Partner, Dallas), Josh Gonzales (Senior Associate, Houston), Michael Donnellan (Associate, Houston), Chelsea Johnson (Associate, Houston), Talha Chaudry (Associate, Houston), Jenna Kabrich (Associate, Austin)

Finance: Caitlin Lawrence (Partner, Houston), Richard Sitton (Senior Counsel, Houston), Lyman Paden (Special Counsel, Houston), Demi Kampakis (Associate, Dallas), Morgan Copher (Associate, Dallas), Delaram Peimani (Associate, Austin)

Tax: Jon Lobb (Partner, Houston)

Global Projects: Megan Young (Associate, Houston), Andrew Crayden (Associate, Houston)

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