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Oaktree and Providence Energy Ltd. Announce Formation of Sierra Energy Holdings, LLC

Providence Energy Ltd. and Oaktree Announce the Formation of Sierra Energy Holdings, LLC, a New Mineral and Royalty Acquisition Company with $500 Million in Capital Commitments Background Image

Vinson & Elkins advised funds managed by Oaktree Capital Management, L.P. in a transaction whereby Oaktree and Providence Energy Ltd. will form a new mineral and royalty acquisitions company, Sierra Energy Holdings, LLC (“Sierra”), backed with $500 million in equity commitments.

Sierra will pursue the acquisition of mineral and royalty interests throughout the continental United States.

The V&E team was led by John Grand, Dan Komarek, Heather Brocksmith and Tara Tegeleci. Other key team members included Elena Sauber, David Peck, Miron Klimkowski, Sean Becker and Julia Petty.

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For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 12 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or follow us on Twitter @VinsonandElkins or connect with us on LinkedIn.

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