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.
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