The Legal 500

Within Capital markets: debt offerings, Baker Botts L.L.P. is a third tier firm,

Split between offices in Houston and Dallas, the ‘excellent’ securities practice at Baker Botts L.L.P. has a solid reputation as issuer-side counsel, particularly in the oil, gas and energy sectors. The team is increasing its focus in advising technology, telecoms and media clients, and also has experience in advising on master limited partnership (MLP) offerings. The team advised Motiva Enterprises in a $2bn Rule 144A senior notes offering, and also assisted Dr Pepper Snapple Group in a $850m public offering of senior notes. Other key issuer clients include Transocean and drilling contractor Noble Corporation. In addition, the ‘knowledgeable’ Gerry Spedale advised the managers in connection with Plains All American Pipeline’s public offering of $400m senior notes. Josh Davidson advised the managers of DCP Midstream Operating’s $250m senior notes offering, and Joe Poff represented the managers in connection with a $500m senior unsecured notes offering by Enbridge Energy Partners.

Within Capital markets: equity offerings, Baker Botts L.L.P. is a third tier firm,

Baker Botts L.L.P.’s Houston and Dallas offices house the firm’s capital markets practice, and the team’s impressive experience in the energy sector extends to its equity capabilities. The team advised NetSpend Corporation in its $235m IPO in November 2010, and Linn Energy in a $431.1m public offering of common units. It also represented CenterPoint Energy regarding a $314.6m public offering of common stock, and Berry Petroleum Company in a $234m public offering of Class A common stock. Drawing on its strong reputation for providing advice to MLPs, corporate department deputy chair Doug Rayburn represented the managers in equity offerings aggregating $566m by Targa Resource Partners. Kelly Rose represented the managers in Energy XXI’s public offerings of total amount $556m. David Kirkland leads the practice from Houston and advises issuer clients.

Within Capital markets: global offerings, Baker Botts L.L.P. is a third tier firm,

Oil and gas industry specialist Baker Botts L.L.P. has expertise in the energy sector, which serves international clients exceptionally well. The team has a strong issuer practice, and continues to grow its manager client base. Rated for its ‘excellent customer services’, the team has expertise advising large corporates in connection with global notes offerings. It assisted MetroPCS Communications, Noble Corporation, Valero Energy Corporation, Pride International and Waste Management in public offerings of global notes to the value of $2bn, $1.25bn, $1.25bn, $1.2bn and $600m respectively. The team also represented the managers in Weatherford International’s $1.4bn public offering of global notes, and provided manager counsel regarding the $1.5bn public offering of global debentures of Burlington Northern Santa Fe. Other highlights included representing the managers in the $400m global notes offering of Enbridge Energy Partners, and also in NuStar Logistics’ $450m public offering of global notes. Corporate department chair David Kirkland is recommended.

Within Capital markets: high-yield debt offerings, Baker Botts L.L.P. is a third tier firm,

Baker Botts L.L.P. is among the ‘best in the business’ for energy sector expertise in the high-yield debt market. The team of ‘expert lawyers’ features corporate department deputy chair Doug Rayburn, who is based in the Dallas office and recently advised Crosstex Energy in a $725m Rule 144A senior notes offering, together with Luke Weedon. Weedon and William Howell provided advice to MetroPCS Wireless in its public offerings of senior notes, of aggregate amount $2bn. In the firm’s Houston office, head of the corporate group Kelly Rose is recommended for her experience. On the underwriter side, corporate practice chair David Kirkland and Felix Phillips, both in Houston, advised the managers of Newfield Exploration Company’s $700m notes offering. Josh Davidson, Rayburn and Weedon also represented the purchasers in Inergy’s $600m Rule 144A senior notes offering and $403m public offering, in order to part finance the $725m acquisition of a natural gas storage facility.

Within Project finance, tier 4

Baker Botts L.L.P. has 12 partners spread across offices in New York, Washington DC and Houston, under the leadership of department head William Giusti. ‘Broadly based’ and ‘a pleasure to work with’, the team has had a traditional focus on sponsor transactions, but in recent years has made a concerted effort to grow its lender practice, and this has borne fruit with the likes of BNP Paribas, Crédit Agricole and HSBC now counted as active clients. As its locations would suggest, the firm has particular expertise in energy and fuel matters; longstanding clients include AES Energy Storage, which instructed the team on the development and financing of a utility-scale advanced lithium ion battery energy storage project, involving a DoE loan guarantee. The team also advised a power developer on a potential 100MW innovative cleantech power project in Texas, in relation to the development and application process under the Department of Energy loan guarantee program; and acted for Reliance Holding USA on its agreement to enter into a joint venture with Pioneer Natural Resources, involving the acquisition of a 45% interest in Pioneer’s core Eagle Ford Shale acreage position – the firm represented Reliance on matters including the negotiation of letter credit agreements, third party guarantees and other credit support relating to the parties’ payment and performance obligations over time. On the lender side, Martin Toulouse and William Giusti led a team that represented HSBC Bank USA on a bridge loan facility for the construction of the Bajo de Mina and Baitun hydroelectric generation projects; the deal was subsequently amended and the credit agreement restated and the financing was increased to $205.5m. The well-respected Maura Goldstein was appointed chair of the global projects department in Washington DC.

Within Energy: litigation, Baker Botts L.L.P. is a first tier firm,

Baker Botts L.L.P.’s ‘very knowledgeable’ team is ‘very good at developing strategies’. The firm is a ‘prominent player for litigation and arbitration in the US and has excellent overseas capabilities’. The energy practice is centered in Houston, and attracts numerous clients in the oil and gas sector, although it also handles a substantial amount of electricity and renewable matters as well. The group is underpinned by the firm’s international dispute resolution, appellate, white-collar, securities litigation and environmental practices. The firm is currently defending BP in connection with two lawsuits brought by the attorney general of Texas relating to alleged air emission events at BP’s Texas City Refinery. In these cases, the state is seeking penalties of over $100m and injunctive relief based on alleged air permit exceedances starting with the 2005 isomerization plant tragedy and continuing through to the present day. The firm successfully represented Shell Oil in the high-profile case Shell Oil v Mac’s Shell Services, regarding the contract renewal process of the Petroleum Marketing Practices Act. Highlights also included representing Navajo Refining, a unit of Holly, and ExxonMobil, BP and Western Refining Company in complaint and related proceedings before the Federal Energy Regulatory Commission (FERC) and the US Courts of Appeals. The matter involved challenging the pipeline rates of SFPP for the transportation of refined petroleum products from El Paso, Texas and Los Angeles, California to Tucson and Phoenix, Arizona. This resulted in a settlement for the clients that required SFPP to pay over $200m in reparations and refunds to shippers. The team is also representing a subsidiary of a US oil and gas company in a multimillion-dollar arbitration against a Norwegian crude oil transportation company, in which the claims arose from purchase and sale agreement for a floating production storage and offloading vessel operating off the coast of an African state; the case is ongoing and a final hearing for quantum remains to be scheduled. Clients also include CenterPoint Energy, EOG, Halliburton, Iberdrola Renewables and NRG Energy. Houston-based Mark Robeck and Mark Glasser lead the team. Washington DC-based Tom Eastment, who is well known for oil pipeline work, and Houston-based Jennifer Smith and Greg Copeland are also recommended.

Within Energy: transaction and regulatory, Baker Botts L.L.P. is a second tier firm,

Baker Botts L.L.P.’s ‘team composition is very complete, yet cost effective’. Clients say that the firm ‘is responsive and performs without a glitch’ and that ‘advice is always “to the point” and solid’. The firm is adept at serving all areas of the oil and gas industry including exploration and production, transportation, pipeline, LNG and refining. It has acted in significant oil and gas mergers including Schlumberger’s $11.34bn merger with Smith International. The group is representing the former in the all-stock transaction, which is subject to various conditions including Smith stockholder approval and customary regulatory approvals. It is also representing Mariner Energy in its $3.9bn merger with Apache. The team also acted for Reliance Industries regarding its joint venture with Pioneer Natural Resources, in which the client will acquire 45% interest in Pioneer’s core Eagle Ford Shale acreage position in two separate transactions. It is also representing Cheniere Energy on the world’s first bi-directional LNG facility able to liquefy and regasify natural gas, on transactional and regulatory issues relating to pipeline, natural gas and LNG contracting matters. In the electricity and renewable power space, it advises clients such as BP Alternative Energy, Horizon Wind Energy, NextEra Energy and Samsung Heavy Industries on transactions. The group also advises CenterPoint Energy, RRI Energy, International Power America and International Power America on electricity regulatory matters. Washington DC-based Steven Miles heads the team. Houston-based Kevin Keenan is ‘always available, 24/7’ and has ‘depth of knowledge in oil and gas matters and is an excellent team leader’. Houston-based George Goolsby has ‘great depth of oil and gas experience, and is willing to give clients the benefit of that experience without running it through a pool of associates’. Associate Angela Bible is ‘hard working and very thorough’.

Within Environment: litigation, Baker Botts L.L.P. is a third tier firm,

Baker Botts L.L.P.’s environmental team is ‘very knowledgeable and good at developing strategies’. The firm advises on a broad spectrum of matters and has significant strength on CAA issues; it is currently representing various energy companies with regard to major CAA litigation, which includes enforcement actions by the EPA, states and environmental groups alleging CAA violations. It has challenged EPA rule makings on several occasions – including its representation of the American Petroleum Institute in litigation involving challenges to EPA’s denial of California’s request for a pre-emption waiver under the CAA to regulate greenhouse gas emissions from motor vehicles. It provides lead representation of various companies with regard to managing cleanups and defending against cost recovery actions. The firm is also representing multiple petroleum/petrochemical companies and various other refiners by owners of public water supply systems who have alleged that chemical compound Methyl tertiary butyl ether (MTBE), produced by the refiners, contaminated the plaintiffs’ water wells. The firm is also defending a major corporation whose historical operations are alleged to have contributed to environmental contamination in residential, commercial, industrial, and undeveloped areas in northern Alabama. Washington DC-based practice head Steve Leifer and Austin-based deputy chair Aileen Hooks are active. Austin-based Matt Paulson ‘always does a great job’.

Within Patent licensing and transactional , Baker Botts L.L.P. is a third tier firm,

The team at Baker Botts L.L.P. handles the full spectrum of licensing matters, from traditional patent license agreements to complex multiparty technology development and acquisitions. The sizeable licensing team includes 28 partners across six offices, and is headed by Bart Showalter in the Dallas office. Showalter focuses on electronics, telecommunications and software fields, including contentious matters. Other key partners are Chris Kennerly, head of the IP department in Palo Alto, and Douglas Kubehl in Dallas. In 2010 the team advised Renesas Electronics on the licensing of approximately 40,000 of its patents and patent applications to Hynix Semiconductor. The firm provides ongoing legal services to Facebook, handling patent strategy, patent prosecution and licensing matters. The team also advises longstanding client the University of Columbia and a number of other research universities and institutions, including the University of Pittsburgh and the University of Texas Southwestern Medical School. Other key clients are Cisco Systems, IMS Health, Vidyo and Yahoo!.

Within Patent litigation: full coverage, Baker Botts L.L.P. is a third tier firm,

Baker Botts L.L.P. provides ‘great availability, and creative advice and solutions’ to clients that include Cisco Systems, Yahoo! and AT&T. Practice head Barton Showalter has experience in hi-tech and electronics sector litigation, and recently defended WebEx Communications (a subsidiary of Cisco) against a lawsuit brought by Automated Business Companies, obtaining a non-infringement summary judgment for the client. The team also obtained a $1.8m damages win for Whirlpool and a favorable non-infringement ruling in an ongoing dispute with rival home appliances maker LG Electronics over refrigerator technology. Robert Scheinfeld ‘gives very practical advice and looks out for the interests of his clients’; both he and Eliot Williams are ‘very strong business partners who are also good litigators’. Lisa Kole and Paul Ragusa are also recommended, leading on a number of ANDA patent litigation suits on behalf of Ethypharm as either co-plaintiff or co-defendant.

Within Patent prosecution: utility and design patents , Baker Botts L.L.P. is a third tier firm,

Baker Botts L.L.P. provides an ‘overall level of service that is extremely good’; ‘high-quality legal advice is delivered in a way that meets cost and timeliness expectations’. The IP prosecution and licensing team is formed of 39 partners across seven offices in the US. Technology expert Bart Showalter heads the practice from Houston, and is noted for his ongoing work for Cisco Systems, managing its worldwide portfolio. The practice group works with a number of leading companies in a diverse range of industries, including financial services, electronics and biotechnology, and is particularly adept in specialized areas such as patent interferences, inter partes and ex parte re-examinations and accelerated examinations. Major clients include Brother Industries, MasterCard International, American Dynamics Flight Systems and MS Health. Dallas-based Samir Bhavsar is recommended for his technology expertise and his work with Bank of America. Paul Ragusa in New York, who works with Columbia University, is ‘a consummate legal professional for all aspects of patenting from prosecution to litigation’.

Within International arbitration, Baker Botts L.L.P. is a third tier firm,

Energy work is at the heart of Baker Botts L.L.P.’s international arbitration practice, though the firm also has significant expertise in financial services matters. Clients say ‘the level of service is excellent’. The firm is acting for a major oil company providing global coordination of numerous arbitration and other disputes. The practice coordinates with local and international law firms around the world including in the UK, USA, Netherlands, Ireland, Jersey, Armenia, BVI and several other jurisdictions. In the Yukos case, the firm is representing The Russian Federation in defending claims brought by various investors in the Yukos Oil Company for alleged violations of a bilateral investment treaty. The amount in dispute is not quantified, but claimants’ counsel has represented that the proceeding is a test case for approximately $10bn in claims. The matter is pending under the Stockholm Chamber of Commerce. On the manufacturing side, the firm is representing a large Korean company in an enforcement action involving an arbitral award in excess of $100m. Jay Alexander and Michael Goldberg are co-heads of the international arbitration practice and are recommended. Jennifer Smith displays ‘excellent temperament and organizational skills and provides outstanding insight’.

Within Leading trial lawyers,

G Irvin Terrell, Baker Botts L.L.P.: Another of Houston’s top trial lawyers, G Irvin Terrell has carved out a hugely impressive career. Recent major highlights include successfully representing the plaintiff, Asarco, in a four-week trial against Americas Mining Corporation relating to multibillion-dollar fraudulent transfer, which resulted in a $5bn verdict in favour of the client. No stranger to high profile matters, Terrell also served as trial counsel for President George W Bush and Vice President Dick Cheney in the contentious presidential election in Florida

Within Product liability and mass tort defense: pharmaceuticals and medical devices, Baker Botts L.L.P. is a third tier firm,

Baker Botts L.L.P. fields an ‘excellent’ practice for pharmaceuticals product liability defense, which is based in Houston and New York and is involved in many of the industry’s high-profile cases. It is co-national counsel for AstraZeneca on Seroquel litigation, for which the company has created a “virtual law firm” to handle the sprawling and complex caseload involving claims that the anti-psychotic drug causes diabetes. It has also been named as co-national counsel for Merck & Co on its Vioxx litigation, having initially represented it in Texas and Louisiana. Although this litigation is largely settled, the firm has continued to act for the client in cases brought by state attorneys general seeking to recoup money that state Medicaid programs spent on Vioxx. Other instructions from Merck & Co include a recently filed case pending in the Southern District of Texas in which plaintiffs allege liver injury as a result of taking a generic version of the company’s pioneer statin, Mevacor. The case has alarming significance for the industry due to its potential to spawn new precedents in Texas that could recognize that the pioneer manufacturer has a legal duty to warn regarding generic versions of the drug. Earl Austin heads the life sciences practice and co-chairs the pharmaceutical litigation practice in New York. Stephen Scheve in Houston is ‘an excellent trial attorney, not because of his superior court presence, but also his ability to strategize and adapt to ever-changing situations’. Kevin Jacobs and Travis Sales, also in Houston, are recommended.

Within White-collar criminal defense , tier 8

Headed by the ‘very knowledgeable and well-respected’ Mike Barta and Samuel Cooper, Baker Botts L.L.P.’s 14-partner team provides regulatory and compliance strength, and also benefits from lawyers with a deep well of trial experience should the matter become litigious. One such lawyer is the ‘acclaimed’ Bill Jeffress, who as well as a recent success at trial on behalf of former Delphi CEO JT Battenberg accused of financial fraud, is also currently representing Joe Price, former CFO of Bank of America, in a lawsuit alleging that Price and the company failed to disclose material information in connection with Bank of America’s merger with Merrill Lynch. The firm also continues to be a leader in the increasingly important field of multi-sovereign and cross-border investigations. In addition to its ongoing work for Halliburton in its FCPA investigation, it is also currently representing a key individual in the multi-sovereign Magyar Telekom investigation.

Within Technology: outsourcing, tier 4

Baker Botts L.L.P. represents suppliers and customers. Supported by a broad-based transactional practice, it is well placed to handle hybrid, multi-faceted transactions. Dallas-based John Martin was recently named chair of the firm’s technology sector committee. Work focuses on complex outsourcing transactions including BPOs and ITOs and offshoring deals, notably to India. An increasing number of instructions involve the disaggregation of multi-tower deals. The ‘extremely responsive and knowledgeable’ Martin and Brian Henchey are commended as ‘real pros who can take a transaction and run with it. They know what is important and explore creative alternatives’. Jordan Herman in Austin is singled out for praise. Recent highlights include representing a global management consulting company in the restructuring and expansion of one of the largest systems integration projects in the private sector. Clients include service providers Accenture, Alcatel, Cisco, CSC and Dell and customers in utilities, life sciences and financial services. The group also works closely with leading consulting companies including TPI, EquaTerra, Gartner, The Everest Group, UtiliPoint and Compass.

Within Technology: transactions, Baker Botts L.L.P. is a second tier firm,

Baker Botts L.L.P.’s interdisciplinary technology transactions group supports technology businesses at every stage from initial strategic planning through to IPO. The team wins praise for ‘exceptional quality and effort and lawyers who always respond quickly’. Practice head and chair of the technology sector committee John Martin in Dallas combines M&A and technology expertise, representing buyers and sellers in big strategic deals. Commended for ‘his ability to communicate with diverse internal and external client teams’, he has represented Accenture in numerous transactions, notably its $51m acquisition of Ariba’s sourcing services and business process outsourcing services assets. Together with newly promoted partner Courtney York, Martin represented CA in its $350m acquisition of Nimsoft, and its acquisitions of 3Tera and HyPerformix. The group represented AT&T in the $1.4bn sale of Sterling Commerce to IBM. The department is concentrated in Dallas, with attorneys in Austin, Houston, Washington DC, New York and Palo Alto. ‘Outstanding transactional attorney’ Jordan Herman is recommended as ‘calm under pressure and extremely thorough’. Michael Bengtson and Brian Henchey are singled out for praise. Major clients include Cisco, CSC, Dell, GENBAND, Perot Systems and Raytheon.

Within Telecoms and broadcast: transactional, Baker Botts L.L.P. is a third tier firm,

Clients consider Baker Botts L.L.P. ‘superior in all respects for transactional work’ and commend its ‘deal lawyers’, who ‘understand clients’ goals and work diligently, creatively and efficiently to achieve them’. The team in New York regularly assists holding company Liberty Media Corporation with its investment in media businesses, notably the anticipated spin-off of two of its three tracking stocks, Liberty Capital and Liberty Starz, to turn its third tracking stock, Liberty Interactive, into an asset-backed stock. The ‘exceptionally talented, creative problem solver’ Lee Charles and newly promoted partner John Winter represented OpenTV Corp in its $154m acquisition by Kudelski. Bill Howell assisted MetroPCS Wireless, the fifth largest facilities-based wireless carrier in the United States in public offerings of senior notes aggregating $2bn.

Within M&A: large deals ($1bn-5bn), Baker Botts L.L.P. is a third tier firm,

Baker Botts L.L.P.’s long-standing position as principal legal counsel to companies in the energy sector has led to it having a major role in the restructuring of various parts of that sector of American business. In 2010, the firm worked on more than 50 publicly disclosed deals, collectively totaling more than $70bn. The team was counsel to East Resources, a Pennsylvania-based independent oil and gas producer and one of the most active explorers in the Marcellus Shale, when it signed a definitive agreement, along with its private equity investor Kohlberg Kravis Roberts & Company, to sell the company’s business to a subsidiary of Royal Dutch Shell for a cash consideration of $4.7bn. The firm also advised MarinerMariner Energy in its merger agreement with Apache Corporation, pursuant to which Apache would acquire Mariner in a transaction valued at approximately $3.9bn. The practice worked on several transactions in 2010 in excess of $5bn, including the representation of the conflicts committee of Williams Partners in a $12bn restructuring of The Williams Companies to acquire Williams’ Gas Pipeline and Midstream Gas and Liquids business segments, and advising Schlumberger in the acquisition of Smith International in an all-stock transaction valued at $11.34bn, the merger widening Schlumberger’s lead as the world’s largest oilfield services company based on revenue and market capitalization. Houston-based David Kirkland and Doug Rayburn in Dallas are the firm-wide corporate deputy chairs. Recently, Sean Wheeler, a partner in the Houston office, left to join Latham & Watkins LLP and Dallas partner Soren Lindstrom departed to join K&L Gates. David Monk withdrew from the firm to join Dallas-based software company, RealPage, as senior vice president and deputy general counsel.

Within Overview,

The dissolution of Howrey LLP in March 2011, following the departure of more than 100 partners during the course of the preceding year, saw the break-up of a formerly leading antitrust practice. Beneficiaries of the fallout included Baker Botts L.L.P., which recruited a nine-partner antitrust team to its Washington DC office, and Covington & Burling LLP, which added a four-partner antitrust litigation team, also in Washington DC.

Within Real estate, Baker Botts L.L.P. is a third tier firm,

Patricia Stanton succeeded senior counsel Marley Lott as head of Baker Botts L.L.P.’s real estate department. Meanwhile, Fred Dunlop now practices under the title of senior counsel and Jeremy Gott was promoted to partner. Clients commend the team for its ‘excellent work’, ‘responsiveness’ and ability to act as ‘business advisers when needed’. Paul Landen represented Master Development LLC in a PPP involving the development of CityCenterDC, a 2.5 million sq ft mixed-use project in Washington DC. Stanton represented regular client Hines on construction financing and development for 300 North LaSalle, a 60-story “class A” office tower in Chicago. The financing was provided in the form of a traditional first lien loan from a syndicate of banks led by JPMorgan Chase and a mezzanine loan from another source. After development, the firm’s remit expanded to the subsequent sale of the property, which was purchased by a REIT sponsored by KBS Realty Advisors. Jonathan Dunlay represented BremnerDuke Healthcare Real Estate on its development and leasing at its new 470,000 sq ft cancer center in Dallas. Clients also recommend Robert Wright.

Within Domestic tax: Central, Baker Botts L.L.P. is a third tier firm,

Baker Botts L.L.P.’s Texas tax lawyers are housed in the Houston and Dallas offices, and make a significant contribution to the firm-wide practice. Clients comment on ‘a quality of work that is unsurpassed, excellent response times and a very good business understanding’. Several partners have practices which incorporate corporate and finance law in addition to tax expertise. The tax practice sub-divides into four service sections: transactions, planning, controversy, private client advice, and employee benefits and compensation. The firm’s penetration of the energy and power sector has extended beyond deep expertise in oil and gas tax issues into renewables. Department chair Gregory Nelson recently led the team which represented East Resources in its $4.7bn sale to a subsidiary of Royal Dutch Shell; the sale included East’s natural gas and oil exploration and production operations and holdings in related businesses. Also in Houston, Stuart Schaffer is ‘outstanding and innovative in many respects’, and Benjamin Wells has ‘provides sound judgment in uncertain tax positions’. In Dallas, Stephen Marcus and Felicia Finston are recommended, and Donald Stephenson is commended for ‘a very high level of technical knowledge of airline industry issues’. Outside the central scope, Washington DC-based Tamar Stanley, who is frequently called in on Texas cases, is ‘an exceptional tax professional who thinks through complex tax issues in a thoughtful and creative manner’. Practice group clients include Halliburton, CenterPoint Energy, Dominion Resources and Reliance Industries.

Within Employee benefits and executive compensation, tier 4

Baker Botts L.L.P.’s compensation and benefits practice fields six partners who practice predominantly in the discipline. In recent instructions, Gail Stewart and special counsel Elizabeth Piland advised on compensation issues when NYSE-quoted Noble Corporation acquired privately held rig-owner FDR Holdings in a $2.26bn June 2010 deal. James Raborn advised in the July 2010 Babcock & Wilcox spin-off of certain business operations to McDermott Will & Emery LLP. Recommended lawyers include Rob Fowler, and Dallas-based Felicia Finston. Lawyers are resident in Houston unless otherwise stated. Recent active clients of the practice group include AT&T and Dominion Resources.

Within International, tier 4

Baker Botts L.L.P.’s international tax work is handled mainly by three Houston partners, each of whom brings wider business expertise to the table. The firm’s strong position in the global energy sector, particularly in oil and gas, has stimulated tax expertise to match and the department is instructed in numerous transactions and financing deals. In recent instructions, Benjamin Wells, ‘an exceptional tax resource’, and Derek Green represented oilfield services giant Schlumberger its complex merger with Smith International, a deal with a value of $11bn, and advised international offshore contractor Transocean through a $2bn senior notes offering. The team works closely with lawyers in other offices in the Middle East, Asia, Russia and Azerbaijan. Clients recently represented in international tax matters include Noble Corporation, Total and Gazprom.

Within Tax controversy, tier 4

Baker Botts L.L.P. has ‘knowledge and experience in the particular field of estate tax disputes’, particularly those involving difficult valuations such as interests in closely held businesses, family limited partnerships and limited liability companies. John Porter, ‘the best in this field in the country’, and Keri Brown succeeded for the taxpayer in the extraordinarily complex Estates of Black v Commissioner of Internal Revenue, a case which involved trusts, a limited partnership and valuation issues. In a federal tax matter, in which the practice is ‘very knowledgeable about IRS practice and procedure’, Richard Husseini’s team successfully settled a dispute with the IRS relating to an interest allocation study utilizing the fair market value method of valuing assets in the hundreds of billions of dollars. The firm’s clients include Southwest Airlines, United Parcel Service of America, Pennzoil Company and Mariner Energy.