DLA Piper advised Kayne Anderson Energy Funds in the sale of Silver Hill Energy Partners, LLC and Silver Hill E&P II, LLC to oil producer RSP Permian Inc., in a transaction valued at approximately US$2.4 billion.

RSP's acquisition will increase its presence in the Permian Basin, seen as one of the most attractive areas for onshore oil development in the United States. The Silver Hill companies are privately held and controlled by affiliates of Kayne Anderson Capital Advisors and Ridgemont Equity Partners, and own about 41,000 net acres in Loving and Winkler counties in Texas.

The deal will be financed by US$1.25 billion in cash and 31 million shares of RSP common stock.

Kayne was represented by the company’s General Counsel Kevin Brophy who led the negotiations, and a DLA Piper team led by US Co-Chair for the Energy sector Jack Langlois (Houston) with support from US Co-Chair of the Corporate group John Gilluly III (Houston), Co-Chair of the Transaction Tax practice Gerald Rokoff (New York), partners Drew Baldinger (Houston) and Paolo Morante (New York), of counsel Naftali Dembitzer (New York) and associate Jenifer Renzenbrink Smith (Austin).