Exhibit 5.1

 

 

		609 Main Street Houston, TX 77002 United States
				Facsimile:
		+1 713 836 3600		+1 713 836 3601
		www.kirkland.com
		March 17, 2021

Vine Energy Inc.

5800 Granite Parkway, Suite 550

Plano, Texas 75024

Re: Registration Statement on Form S-1

Ladies and Gentlemen:

We are acting as special counsel to Vine Energy Inc., a Delaware corporation (the “Company”), in connection with the proposed registration of 24,725,000 shares (the “Shares”) of the Company’s Class A common stock, par value $0.01 per share (“Common Stock”) to be sold by the Company pursuant to a Registration Statement on Form S-1 (Registration No. 333-253366), originally filed with the Securities and Exchange Commission (the “Commission”) on February 22, 2021, under the Securities Act of 1933, as amended (the “Act”) (such Registration Statement, as amended or supplemented, is hereinafter referred to as the “Base Registration Statement”) and a Registration Statement filed pursuant to Rule 462(b) (the “462(b) Registration Statement”). The Shares to be registered by the Company pursuant to the 462(b) Registration Statement are collectively referred to herein as the “Additional Shares.”

In connection therewith, we have examined originals, or copies certified or otherwise identified to our satisfaction, of such documents, corporate records and other instruments as we have deemed necessary for the purposes of this opinion, including (i) the corporate and organizational documents of the Company, including the Amended and Restated Certificate of Incorporation of the Company (the “Amended and Restated Certificate”) in the form incorporated as Exhibit 3.3 to the Base Registration Statement, (ii) the Amended and Restated By-laws of the Company in the form incorporated as Exhibit 3.4 to the Base Registration Statement, (iii) minutes and records of the proceedings of the Company with respect to the issuance and sale of the Additional Shares, (iv) the form of Underwriting Agreement in the form filed as Exhibit 1.1 to the Base Registration Statement (the “Underwriting Agreement”), (v) the Base Registration Statement and (vi) the 462(b) Registration Statement.

For purposes of this opinion, we have assumed the authenticity of all documents submitted to us as originals, the conformity to the originals of all documents submitted to us as copies and the authenticity of the originals of all documents submitted to us as copies. We have

 

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Vine Energy Inc.

March 17, 2021

Page 2

 

also assumed the legal capacity of all natural persons, the genuineness of the signatures of persons signing all documents in connection with which this opinion is rendered, the authority of such persons signing on behalf of the parties thereto other than the Company and the due authorization, execution and delivery of all documents by the parties thereto other than the Company. We have not independently established or verified any facts relevant to the opinions expressed herein, but have relied upon statements and representations of officers and other representatives of the Company and others.

Based upon and subject to the foregoing qualifications, assumptions and limitations and the further limitations set forth below, we are of the opinion that the Additional Shares are duly authorized, and, when the 462(b) Registration Statement becomes effective under the Act, the final Underwriting Agreement is duly executed and delivered by the parties thereto and the Shares are registered by the Company’s transfer agent and delivered against payment of the agreed consideration therefor, all in accordance with the final Underwriting Agreement, the Shares will be validly issued, fully paid and non-assessable.

Our opinion expressed above is subject to the qualification that we express no opinion as to the applicability of, compliance with, or effect of any laws except the General Corporation Law of the State of Delaware (including the statutory provisions, all applicable provisions of the Delaware constitution and reported judicial decisions interpreting the foregoing).

We hereby consent to the filing of this opinion with the Commission as Exhibit 5.1 to the 462(b) Registration Statement. We also consent to the reference to our firm under the heading “Legal Matters” in the Registration Statement. In giving this consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission. This opinion and consent may be incorporated by reference in a subsequent registration statement on Form S-1 filed pursuant to Rule 462(b) under the Act with respect to the registration of additional securities for sale in the offering contemplated by the Registration Statement and shall cover such additional securities, if any, registered on such subsequent registration statement. We do not find it necessary for the purposes of this opinion, and accordingly we do not purport to cover herein, the application of the securities or “Blue Sky” laws of the various states to the issuance and sale of the Additional Shares.

Vine Energy Inc.

March 17, 2021

Page 3

 

This opinion is limited to the specific issues addressed herein, and no opinion may be inferred or implied beyond that expressly stated herein. This opinion speaks only as of the date that the 462(b) Registration Statement becomes effective under the Act, and we assume no obligation to revise or supplement this opinion after the date of effectiveness should the General Corporation Law of the State of Delaware be changed by legislative action, judicial decision or otherwise after the date hereof.