Foley Advises Tailwater E&P on Acquisition of Permian Basin Asset Package

Foley & Lardner LLP advised Tailwater E&P, the upstream platform of Tailwater Capital LLC, in connection with its acquisition of a significant, non-operated working interest asset package in the Permian Basin from Accelerate Resources Operating LLC. The acquisition marks another key milestone for Tailwater E&P, reinforcing its position as a leading investor in high-quality, energy-producing assets in the lower 48.

The acquired assets include more than 5,000 net leasehold acres in the core of the Midland and Delaware Basins, currently producing more than 5,000 net barrels of oil equivalent per day. The assets also possess meaningful future inventory under premier operators, including ExxonMobil, ConocoPhillips, Diamondback Energy, EOG Resources, Mewbourne Oil Company, Apache, Occidental Petroleum, Devon, and Coterra Energy.

The Foley team was led by partner Nick Peters and included partners Hoang Quan Vu and Glenn Singleton, of counsel Neal Bakare, and associates Jennifer Gardner and Miguel Beltran.