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Kirkland Advises Riley Permian on Formation of JV with Conduit Power to Build New Power Infrastructure

Kirkland & Ellis counseled Riley Exploration Permian, Inc. (NYSE American: REPX) (Riley Permian) on its definitive agreement with Conduit Power, LLC, a portfolio company of Grey Rock Investment Partners, to form a joint venture that will own and operate on-site power generation utilizing captured flared natural gas (the Project) to power Riley Permian’s operations in Yoakum County, Texas. The new power infrastructure is expected to improve Riley Permian’s operating resiliency with a consistent, baseload power source in an increasingly intermittent power grid. In addition, the Project will capture a substantial amount of natural gas currently flared, thereby allowing Riley Permian to reduce its CO2 emissions.
The Kirkland team was led by corporate partners Cyril Jones, Shubi Arora, R.J. Malenfant, Rahul Vashi and Patrick Moneypenny and corporate associates Markus Wang, Reagan Kapp, Jarrod Gamble and Mitch Holliman; tax partners Mark Dundon and Michael Masri and associates Nicole Martin and Jamie McWilliam; and energy regulatory partner Marcia Hook.

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