An unknown buyer entered into a definitive agreement to acquire Appalachian Basin Assets Harvest Oil & Gas Corp. (OTCPK:HRST) for $20.5 million on July 7, 2020. The consideration consists of $14.5 million of cash and a $6 million note and is subject to customary purchase price adjustments. The holders of a majority of the common stock of the Harvest Oil & Gas Corp. have approved the transaction. The transaction is expected to close in August 2020 and has an effective date of July 1, 2020. Rahul D. Vashi, R.J. Malenfant, Alia Y. Heintz, Paul Rogers Knowlton, Alex Rose, Brandon Conrad Elliott, Angela Hagerman, Brian Guerinot, Mark Dundon, Joe Tobias, Matt Pacey, Caleb Lowery, Tony Flor and Drue A. Santora of Kirkland & Ellis acted as legal advisors and Intrepid Partners, LLC acted as strategic advisor for Harvest Oil & Gas Corp. An unknown buyer completed the acquisition of Appalachian Basin Assets of Harvest Oil & Gas Corp. (OTCPK:HRST) for $21.9 million on October 28, 2020. The transaction was funded with a $21.9 million two-tranche senior secured seller note which is held by EV Properties, L.P., a wholly-owned subsidiary of Harvest. In addition, a working capital reserve was funded with an equity capital contribution from affiliates of the buyer. Tranche one is $17.8 million with an 11% interest rate and tranche two is $4.1 million with an interest rate, payable in kind, of 3%. The seller note is subject to customary covenants including maintaining certain minimum required commodity hedges.