Foley Represents Blackbuck Resources in Closing of Sustainability-Linked Term Loan

08 July 2021 Media Contact: Jen Dilworth News

Foley & Lardner LLP announced today it served as legal counsel for its Houston and Midland-based client, Blackbuck Resources LLC, in the closing of a sustainability-linked term loan with Riverstone Credit Partners LLC, a dedicated energy and power credit fund managed by Riverstone Holdings LLC. The term loan will further support Blackbuck’s commitment to sustainability by providing additional capital to expand the company’s produced water platform capabilities.

Blackbuck designs, builds and operates water infrastructure, and provides services for the oil and gas industry, with a primary focus on the Permian Basin. The latest financing provides an initial commitment of $50 million plus an accordion feature, which gives Blackbuck additional liquidity for growth. The facility’s pricing will be adjusted based upon Blackbuck’s adherence to certain sustainability performance targets, defined by key performance indicators set internally by Blackbuck.

A core group of members from Foley’s Finance Practice, based in the firm’s Houston office, served as legal advisers to Blackbuck. The team was led by partner Hoang Quan Vu and included Felisa Elayne Sanchez, Neal Bakare, Jennifer Gardner and paralegal Debra Vincent.

Additional Foley team members who served as counsel included Michael Abbott, James Howard, Randall Jones, Nicholas Faleris and Eun Sung Lim.

About Foley & Lardner LLP

Foley & Lardner LLP looks beyond the law to focus on the constantly evolving demands facing our clients and their industries. With approximately 1,100 lawyers in 24 offices across the United States, Mexico, Europe and Asia, Foley approaches client service by first understanding our clients’ priorities, objectives and challenges. We work hard to understand our clients’ issues and forge long-term relationships with them to help achieve successful outcomes and solve their legal issues through practical business advice and cutting-edge legal insight. Our clients view us as trusted business advisors because we understand that great legal service is only valuable if it is relevant, practical and beneficial to their businesses.

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