News & Events

The Firm recently represented Kohlberg Kravis Roberts & Co. (“KKR”), together with its affiliates, in connection with its investment in a joint venture with Quicksilver Resources Canada Inc., a wholly-owned subsidiary of Quicksilver Resources Inc. (together with Quicksilver Resources Canada Inc., “Quicksilver”).  Quicksilver is a natural gas and crude oil exploration and production company engaged in the development and acquisition of long-lived natural gas and oil reserves in North America.  The transaction closed on December 23, 2011. 

The joint venture will accelerate development of a natural gas-processing and transportation project in Horn River Basin, Canada.  Under the terms of the transaction, Quicksilver contributed its existing 20-mile gathering line and compression facilities and 10-year contracts for gas deliveries into those facilities to create the partnership, and KKR invested $125 million in exchange for a 50% interest in the partnership.  KKR’s initial $125 million contribution will fund the build-out of processing and gas gathering assets.  Quicksilver will serve as the operator of the partnership. 

The Simpson Thacher team included: Gary Horowitz, Kelly Jin, Amie Siebert and Allison Wilson (M&A); Michael Naughton (Antitrust); Nancy Mehlman (Tax); and Adeeb Fadil (Environmental).