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Recent PJ Solomon Energy Advisory Group Transactions

4/18/2019

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Based in Oklahoma City, Duke Ligon is a senior advisor to the Peter J. Solomon Company. In his position with the Houston-based energy firm, Duke Ligon draws on nearly five decades of experience in the energy sector, including serving as CEO of Oklahoma City’s Mekusukey Oil.

The PJ Solomon Energy Advisory Group is active across numerous energy-industry sectors and subsectors. In 2018, the group advised on significant transactions, including a $477 million divestiture of assets from Utica Minerals Development, LLC (UMD) to Ascent Resources, LLC. The transaction represented one piece of Ascent Resource's $1.5 billion acquisition of certain assets belonging to UMD, Hess Corporation, CNX Resources, and a fourth undisclosed seller. Following the acquisition, Ascent Resources reported growth in Ohio's Utica shale field, with proved reserves of oil, natural gas, and natural gas liquids reserves increasing to approximately 7.6 trillion cubic feet of natural gas equivalent, ahead of 12-month projections.

The Energy Advisory Group also served in a financial advisory role on behalf of Canyon Midstream Partners during its sale of Pomelo Connector, LLC, to Spectra Energy Partners, LP. For a more in-depth look at these transactions or a complete list of those handled by the PJ Solomon Energy Advisory Group, visit pjsolomon.com.

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5/8/2020 03:40:13 pm

We all have our opinion, and we are all free to voice them out. There are opinions that are good, and there are those which are terrible. In my opinion, we should only voice the opinions that we believe are right. It doesn't matter what you feel, but if it is not for the good of the world, then you might just want to keep it to yourself. I want people to be more mindful of what they say.

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    Attorney and businessman Duke Ligon serves as president and CEO of the company he established more than 40 years ago, Mekusukey Oil Company, LLC. The company is among the nation's largest privately held businesses focused on acquiring and managing perpetual mineral resources; it conducts business in Oklahoma and more than 20 other states. Mekusukey maintains offices in Wewoka and in Oklahoma City. Duke Ligon and his staff oversee operations covering approximately 80,000 net mineral acres.

    Since 2008, Mr. Ligon has worked with Blueknight Energy Partners, L.P., as chairman of the board and independent director. Blueknight offers midstream services to others throughout its industry. Among his other affiliated companies is PostRock Energy Corporation in Oklahoma City. He serves as chairman of the board for this natural gas production company that focuses on the Cherokee Basin region, which extends into southeast Kansas.

    Among his other board of directors positions, Mr. Ligon works with Heritage Trust Company, a private trust bank whose Texas and Oklahoma offices concentrate on energy commodity management, and with Denver, Colorado-headquartered Emerald Oil, Inc.

    From 1997 to 2007, moreover, he served Devon Energy Corporation as general counsel and senior vice president. He currently works with the University of Texas’ Kay Bailey Hutchison Center for Energy, Law & Business as co-chairman of its executive council.

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