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CrownRock Announces Perpetual Preferred Equity Investment

Vinson & Elkins advised CrownRock Holdings, L.P., an oil and gas producing joint venture of CrownQuest Operating and Lime Rock Partners, in connection with its $475 million perpetual preferred equity investment from funds managed by Magnetar Capital and EIG Global Energy Partners, respectively.

The transaction closed on January 4, 2018.

CrownRock is an independent oil and natural gas company headquartered in Midland, Texas engaged in the acquisition, development, exploitation and exploration of oil and natural gas properties.

The V&E corporate team was led by partners Robert Kimball and Shelley Barber with assistance from associates Lee Davis, Frankie Shulkin, Desi Baca and Grace Ann Duquette. Also advising were partners Jim Meyer, John Lynch and Brett Santoli and associate Blair Marsteller.

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