Murchison Oil and Gas, LLC | Stephens

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Financial Advisor

Murchison Oil and Gas, LLC

$82 Million 06/30/2022 Acquisitions & Divestitures Complete
Private Companies
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Transaction Details

  • On June 30, 2022, Murchison Oil and Gas, LLC (“Murchison” or the “Company”) closed on a new Senior Secured Term Loan (the “Term Loan”) and issued new preferred equity units (the “Preferred Units”) to two lenders and investors
  • The Term Loan provides a maximum committed amount of $225 million, with $165 million funded at closing
  • The Preferred Units have a face value of $82 million
  • Net proceeds from the financing were used to refinance the Company’s existing debt, redeem its existing preferred units and pay a distribution to equity holders
  • The undrawn funds of the Term Loan may be drawn in the future to fund development opportunities across Murchison’s Midland and Delaware Basin acreage positions
  • Stephens served as exclusive financial advisor to Murchison in the transaction

About the company

Murchison Oil and Gas, LLC is a privately-held, independent oil and gas company engaged in the acquisition, development and production of oil and gas resources in the United States. The Company's core areas of operations are the Permian Basin in New Mexico and Texas. Murchison Oil and Gas is led by a seasoned team of oil and gas executives, who have decades of experience and a strong track record of value creation. The Company's management philosophy revolves around day-to-day involvement in operations, a focus on prospect generation, a disciplined acquisitions strategy and environmental care. Murchison Oil and Gas was founded in 1979 and is headquartered in Plano, Texas.

Sources: Press Release.
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