New York, NY - Paul Hastings LLP, a leading global law firm, announced today that the firm represented the banks in financing the purchase of BlackBrush Oil & Gas, L.P., an independent oil and gas exploration and development company, by private equity group Ares Management, L.P. (NYSE:ARES).

The financing consisted of a $500 million first lien reserve-based facility from Bank of America, N.A., which acted as administrative agent and a $300 million second lien term loan credit facility by UBS AG, Stamford Branch, which acted as administrative agent. UBS Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Credit Suisse Securities (USA) LLC acted as joint lead arrangers in connection with the credit facilities.

Leveraged Finance partners Mike Michetti, Scott Saks, Joel Simon and Randal Palach led the Paul Hastings team, which also included associates Shekhar Kumar, Katie Forer, Sun Kim, and Cecilia Wang.