O’Melveny Worldwide

Global Legal Chronicle: Ring Energy’s US$75 Million Acquisition of Central Basin Platform from Founders Oil & Gas

July 24, 2023

O’Melveny advised Founders Oil & Gas IV, LLC, a Texas-based exploration and production company, on the sale of its Central Basin Platform assets to publicly-traded Ring Energy, Inc., a growth oriented independent oil and natural gas company, for US$75 million in cash. The transaction was announced on July 11 and is expected to close in the third quarter of 2023, subject to customary closing adjustments. The O’Melveny team was led by partners Jason Schumacher and Ryan Sears, counsel Laurie Davis, and associate David Kolenda. The team also included partners Michelle Earley, Jack Jacobsen, Kim Williams, and Will Becker, and associates Sally Cooper and Eleanor Gilbert.

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