Two Firms Lead Vital Energy’s $540 Million Permian Assets Deal

At least two law firms are advising on Vital Energy Inc.’s acquisition, with an unnamed partner, of Permian Basin assets from a portfolio company of Houston-based energy private equity firm EnCap Investments.

O’Melveny & Myers advised EnCap-owned Forge Energy II Delaware LLC on its sale of the assets to Vital Energy and its partner for $540 million in an all-cash transaction, according to a statement.

Latham & Watkins is advising Tulsa, Oklahoma-based Vital Energy, which agreed to acquire 70% of the assets for $378 million and will operate them, while its partner acquires the remaining 30% for $162 million, the ...