Strengthening capabilities on the funds side through the hire of Clay Brett who brings expertise and knowledge from previous in-house experience, as well as M&A, financing and capital markets proficiencies in the form of ex-Vinson & Elkins LLP duo Caitlin Lawrence and Andrew Schulte, Baker Botts L.L.P.‘s multidisciplinary team continues to be frequently sought out by a multitude of clients due to its reputation as a leading player in the oil and gas sector. Tax, regulatory, and environmental acumen underpin the group’s range of transactions that comprehensively encompass upstream, midstream and downstream, with an increased flow of mandates pertaining to carbon capture and gas gathering that sit alongside its multi-billion-dollar basin M&A and commercial agreement deals. The practice is led by three individuals who operate out of Houston, Austin and Dallas respectively: Jason Bennett, who has been predominantly active on CCUS and novel RNG ventures; Mike Bengston, who works closely with companies and investors on a wealth of M&A, private equity and capital markets transactions; and David Emmons, who is highly regarded for his corporate finance practice. Steven Miles' eminent sector reputation continues to generate significant activity for the group, while Larry Hall is a leading advisor to the firm’s most consequential oil investors and operators on M&A, possessing impressive geographical coverage. Scott Looper is recognized for his extensive work in the midstream space while also being an active presence on the firm’s gas gathering, treating and CO2 sequestration contractual work, whereas Erin Hopkins regularly engages with M&A and acquisition financing in the upstream space. Jonathan Platt is equally instructed by public and private companies on a range of transactions. Gerry Morton and Clint Rancher are further names of note in Houston.

Gibson, Dunn & Crutcher LLP made a significant impression in the US oil and gas market with the hire of Rahul Vashi from Kirkland & Ellis LLP in May 2023, whose formidable transactional capabilities bolsters an already prolific team that advises on landmark M&A, with client Pioneer Natural Resources’ merger with ExxonMobil highlighting this. The group is highly active across the entire value chain, working with energy producers and asset managers on both company and project-based upstream acquisitions, midstream mergers, and disposals of manufacturing and distribution centers, as well as negotiating lease agreements. Vashi is joined as practice head by Michael Darden, a practitioner with vast sector experience whose practice spans oil and LNG transactions and financings as well as wider gas ventures such as carbon capture, utilization and sequestration projects. Hillary Holmes has been active on acquisition, disposal and merger deals whilst also possessing a formidable capital markets offering, while Michael De Voe Piazza co-heads the firm’s private equity group and largely focuses on matters of this nature. Tull Florey also comes recommended for his wide-spanning expertise. The team operates out of Houston.

 

Featuring a team of ‘consistent high performers’ who possess ‘incredible breadth’ across the oil and gas space, Kirkland & Ellis LLP continues to be a chief point of contact for both longstanding investors and new market entrants seeking counsel for big-ticket work. Bringing together sophisticated experience in M&A, private equity, joint ventures, and complex financing structures, the group has seen an influx of multi-billion-dollar transactions as major players seek to consolidate inventory, working with the likes of EQT, Ovintiv, ONEOK and Diamondback Energy, whilst also boasting an impressive array of mandates in the midstream space that involve energy-focused private equity entities such as I Squared Capital and Blackstone Energy Partners. Team head and founding partner of the firm’s Houston office Anthony Speier has deep-rooted connections to the local market and is equally well-equipped to advise across M&A, commercial, development, regulatory and financing matters. David Castro and Christopher Heasley are widely praised by clients for their ‘exceptional work ethic, problem solving, and industry knowledge’, with both practitioners holding M&A and private equity as the flagship components of their work, while Dallas’ Will Eiland is similarly praised by clients for his creative and constructive approach towards transactions. Andrew Calder handles acquisitions, disposals, investments and joint venture deals with a firm focus on LNG and natural gas-fired generation facilities, a practice akin to Sean Wheeler and William Benitez, who have engaged with blockbuster buyouts and mergers in the upstream space. Chad Smith showcases in-depth knowledge of both upstream and midstream oil and gas assets and is active on acquisitions of operating and non-operating interests in a multitude of basins and subbasins. Beyond her work as a strategic and commercial advisor to complex energy projects, Lindsey Jaquillard is also well-reputed for her M&A proficiency. Associate Isaac Bate has been a growing presence on the firm’s key mandates. Other than Eiland, the team is based in Houston.

 

Providing transactional advice on a litany of premium deals, Latham & Watkins LLP maintains a leading position in the market, trusted by a roster of industry players, private equity sponsors, and investment banks. The firm has been responsible for overseeing some of the sector’s largest company mergers, including Magellan Midstream Partners’ acquisition by ONEOK, as well as Permian Resources’ merger of equals with Colgate Energy Partners, LLC – among others. The firm demonstrates notable activity across the entire oil & gas spectrum, including in the offshore space where the group has handled impressive business combination mandates, while carbon capture projects continue to be a flagship component of the team’s far-reaching practice, often advising prominent clients on the sale and purchase of CCUS projects and developers. Global co-chair of the firm’s energy & infrastructure group, Justin Stolte leverages previous industry experience to advise on M&A, joint ventures and project financing, often focusing on the midstream space alongside M&A and private equity specialist Lauren Anderson. Tom Greer is engaged with multi-billion-dollar transactions in the Delaware and Permian Basins, whereas James Garrett‘s far-reaching practice includes acting on joint ventures to acquire ultra-deepwater drillships. Michael R. King is the chief point of contact for private equity sponsors for both upstream and midstream matters, while Ryan Maierson has been a key figure in the group for large-scale mergers and consolidation deals. Stephen Szalkowski has been highly active across the entire oil & gas space, including prominent assets such as the South Texas Gateway Terminal. All practitioners mentioned sit in the Houston office.

 

Vinson & Elkins LLP fields a team of ‘knowledgeable and commercial’ practitioners that provide ‘excellent advice and judgment’ across an array of important transactions. The firm is a frequent port-of-call to a growing roster of top name clients that include independent oil and gas exploration and production companies, prominent private equity firms, hedge funds, and investment banks, with a notable focus on the upstream and midstream space. Recent work highlights include multi-billion dollar upstream asset acquisitions, midstream joint venture merger transactions, as well as vast company takeovers. The practice is jointly led by Kaam Sahely, Danielle Patterson, and Matthew Strock, with Patterson and Strock particularly singled out for their wealth of expertise pertaining to M&A and private equity. ‘Real thought leaders’ Matthew Falcone and Lande Spottswood are ‘terrific’ across the full range of hydrocarbon transactions, with the former especially well regarded for his financial sponsor-oriented work and the latter for her expertise in public company mergers or change-of-control transactions. Bryan Loocke has overseen a multitude of matters involving high quality asset consolidations involving major active basins, particularly the Permian Basin, while Austin’s Douglas Bland focuses on midstream transactions, from pipelines to natural gas storage facilities. Keith Fullenweider has recently been active on multi-billion dollar upstream assets and gathering and processing asset deals. Shay Kuperman also comes highly recommended for his capabilities across the entire oil & gas spectrum. Other than Bland, the team operates out of Houston.

 

Regularly advising on the sale and purchase of assets, company acquisitions, stock mergers, and public offerings, Akin is a popular choice for industry players, sponsors and investors engaging with oil & gas, petrochemicals and LNG. The team is frequently called upon by premium clients such as Tug Hill Inc. and DiamondBack energy as they expand their portfolios, and the group has been largely active on upstream and midstream M&A, often handling multi-billion-dollar deals. Co-head of the corporate practice, New York’s Zachary N. Wittenberg possesses a multifarious offering, working with public and private companies across a range of instructions. Sitting alongside Wittenberg at the head of the team and operating out of Dallas, Wesley Williams is an M&A specialist with a notable focus on upstream and midstream transactions. The Houston-based John Goodgame is often positioned as a financial advisor to clients, guiding them through capital raises, while Stephen Boone, also based in Houston, has overseen the acquisition of interests in both the Permian and Texas Delaware Basin, as well as actively engaged with a number of different pipelines, over the past twelve months. Cole Bredthauer operates out of Fort Worth and is a regular advisor to FireBird Energy II LCC alongside other exploration and production companies. Washington DC’s Emily Mallen adds further midstream knowledge and understanding to the team. David Patrick Elder departed the firm in February 2024.

Bracewell LLP has extensive experience in M&A and energy finance across upstream, midstream and downstream focused transactions, complementing transactional prowess with expert regulatory and environmental know-how. A key point of differentiation for the group is its stellar work regarding carbon capture assets, active across the acquisition and disposal of both projects and developers as well as development mandates, demonstrating engagement in both onshore and offshore work of this nature. Team lead Alan Rafte is the leading figure in the group for carbon capture, sequestration and utilization projects, while also being highly regarded for his prolific upstream and midstream oil and LNG practice. Working alongside Rafte on some of the firm’s most consequential CCS instructions, fellow group head W James McAnelly is a go-to for a range of clients, and has recent highlights that include offshore gathering and transportation mandates. Jason Jean is well-experienced advising private equity investors across the entire upstream and midstream value chain, while also possessing a formidable capital markets capability. Molly Butkus is active on M&A, joint venture formation and private equity transactions, while New York-based lawyer Austin Lee is able to bring valuable financing proficiencies to bear on a number of client instructions. Also in New York, Parker Lee, who joined the team from McDermott Will & Emery LLP in March 2024, advises infrastructure funds on a diverse range of transactions. Unless otherwise stated, all lawyers are based in Houston.

Trusted by some of the market’s premium oil and gas operators and producers, King & Spalding LLP regularly acts on large-scale project financings and developments, advising on mandates not only in the domestic space but in wider jurisdictions such as South America, Asia and the Middle East. The team is well versed advising on EPC agreements, construction contracts, and transportation, supply and product offtake arrangements – amongst others – while counting joint ventures and debt and equity restructurings as part of a diverse array of workstreams that also includes entrenched M&A capabilities. Recent key matters have involved carbon capture and storage, blue hydrogen and ammonia production facilities, renewable diesel and sustainable aviation fuel facilities, as well as floating LNG projects. Spearheading the group is Stuart Zisman who offers a wide range of corporate transaction and advisory support, particularly in regard to midstream and downstream. Peter Hays is noted for ‘his eye for detail’ and ‘ability to efficiently simplify and capture complex commercial terms’, and is often sought out for hydrocarbon transactions across the entire value chain. David Lang is another name of note, offering highly valued LNG expertise. Mitchell Tiras joined the team in August 2023 from Locke Lord LLP, offering deep experience in the energy and renewables transactions and funds space. All individuals are based in Houston.

Norton Rose Fulbright is a key advisor on a number of transactions across the upstream, midstream and downstream space that span M&A, joint ventures, and debt and equity arrangements. The firm is able to count some of the foremost majors and domestic energy companies as part of its impressive client roster, and these players turn to the firm for its vast asset knowledge. The firm demonstrates considerable expertise in deepwater drilling mandates, with activity on a number of corporate and commercial transactions pertaining to the Gulf of Mexico and offshore Brazil, whilst also showing an impressive range of asset engagement that includes carbon capture, ethylene and bromine – among others. Craig Vogelsang continues to helm the practice and is a key figure for names such as BP, Conoco and Shell as he handles their marquee transactions in both major oil and gas basins and offshore sites, possessing the ability to advise across the full gamut of hydrocarbons. Mac Marshall is at the forefront of the group’s upstream and midstream sector transactions, and is particularly strong counseling on commercial agreements. Senior counsel Alex Niebruegge has shown prolific activity across the board, active on M&A, private equity, and commercial agreements, both on the domestic and international front. John Mauel retired in January 2023, while Jessica Rodriguez left the firm in December 2023. All practitioners operate out of Houston.

Orrick, Herrington & Sutcliffe LLP‘s Houston-based team is well-positioned in the market to advise a diverse client base that includes oil majors, multinational investment companies, and eminent financial institutions on a near-unrivaled series of assets that cover the entire oil and gas waterfront. While entrenched work in the oil and LNG space is evident through M&A engagement with upstream assets, gas gathering and storage facilities, and PPAs and securitizations involving leading oil producers, the firm’s evolving portfolio of work sits at the intersection between tradition, energy transition and technology transactions, and as such the group has advised on a variety of innovative carbon capture and hydrogen ventures, handling M&A through to the financing, development, IP and regulatory piece. Leading the practice from Houston, Blake Winburne is a highly experienced advisor who regularly handles big-ticket deals for leading private equity funds and global corporates, with particular expertise in the midstream space. Joe Roger, who stands out for his strong M&A background, is often retained by both independent exploration and production companies and state-owned multinationals in mandates involving project acquisitions and disposals, whereas Jonathan Ayre is crucial to the firm’s securitization work. Bradford Gathright has been active across gas gathering, CO2 storage, and plastic-waste-to-chemicals facilities, while Adam Kowis is also noted for his far-reaching practice, with strong activity in relation to CCUS, hydrogen, midstream and non-energy infrastructure projects. David Aaronson supports both the firm’s M&A and securitization mandates. New York’s Adam Griffin also comes recommended.

Fielding a ‘talented and commercial’ team that ‘listens to client needs and responds appropriately’, White & Case LLP boasts a stellar and diverse client roster that includes majors, state-owned energy players and investment funds, and new market investors. The group has engaged with large-scale greenfield project financings, both domestically and internationally, floating production storage and offloading vessels, LNG regasification terminals, and direct air capture facilities – among others. This impressive asset engagement sits alongside continued excellence regarding multi-billion dollar M&A and private equity transactions, joint ventures and company spin-offs, handling mandates across upstream, midstream and downstream. Team lead Jay Cuclis has a wide corporate practice that is particularly focused on the upstream, and is noted for his strong work regarding CCUS. The ‘phenomenal‘ Mingda Zhao is praised for his ‘pragmatic’ and ‘commercial’ mindset is often instructed by private equity funds and their portfolio companies. Possessing M&A, finance and development expertise, Steven Otillar has predominantly been engaged with offshore mandates, while Clark Wohlferd focuses on large company takeovers, often working with the likes of Saudi Aramco. Emery J. Choi demonstrates prolific activity across the entire oil and gas value chain, handling M&A, joint ventures and strategic partnerships, whereas Charlie Ofner has led the team on mineral and royalty interest deals as well as spin-offs. Miami’s Sean Goldstein heads up the firm’s Americas-facing practice, specializing in project development and energy infrastructure work in Latin America. All practitioners are based in Houston unless otherwise stated. Christopher Richardson departed the firm in March 2024.

Holland & Knight LLP fields a robust team of experienced oil and gas transactional lawyers who routinely represent a range of multinational and independent oil and gas companies, private equity and petrochemical companies across the full spectrum of oil and gas transactions. These range from mergers and acquisitions, lease interpretations, and midstream commercial agreements, to divestitures of federal offshore oil and gas leases, land acquisitions and sales related to refinery plant expansions. Co-head of the oil and gas subsector group Seth Belzley is one of the main contacts, splitting his time between Denver and Houston and advising clients from the pipeline, midstream, oil and gas, renewable fuels, and solar industries. From Denver, fellow co-chair Robert Dougherty specializes in acquisitions, divestitures and joint ventures related to oil and gas properties and exploration and production companies, while Dallas’ Andy Derman leads the firm’s international energy practice and is well-versed in oil and gas investment projects and cross-border transactions. Ram Sunkara, based between Houston and Atlanta, is noted for his expertise in complex mergers and acquisitions, joint ventures, and project finance transactions across the oil and gas sectors.

Alongside its expertise in advising a range of energy companies, investors and lenders on complex transactions related to the development, financing and acquisition of oil and gas interests, Houston-based Hunton Andrews Kurth LLP is also recognized for assisting clients with a range of LNG projects across the United States. Further core workflows include acquisitions of acreage, assets and entities in the oil and gas sector and transactions involving exploration, production and transportation. Ian Goldberg is noted for routinely advising exploration and production companies on transactions, acquisitions, and divestitures in onshore oil and gas basins in the United States, and offshore in the Gulf of Mexico. Co-chair of the corporate team, Michael O’Leary, is a key player in corporate securities and energy industry-related mergers and acquisitions and represents both issuers and underwriters in public and private offerings of energy-related equity and debt securities.

The Houston-based team at Jones Day continues to advise an array of clients in the upstream, midstream, and downstream oil and gas markets on a variety of oil and gas transactions, encompassing energy mergers, acquisitions, dispositions, joint ventures and restructuring. The team is also routinely involved in regulatory matters, including due diligence and regulatory approvals. The firm’s global energy practice is spearheaded by Jeff Schlegel, whose capabilities are notably concentrated around M&A, project development, securities, and finance transactions for energy industry clients, while Kit Rockhill has considerable expertise in advising on international transactions such as specialized asset acquisitions and big-ticket liquefied natural gas (LNG) export projects. Alexandra Wilde and David Stringer have left the firm.

Porter Hedges LLP advises an array of major public and private E&P companies, private equity funds, and midstream and downstream companies for a wide range of oil and gas transactions. In addition to its expertise in advising on complex oil and gas acquisitions and divestitures, both conventional and unconventional, the team is also recognized as a major player in managing carbon sequestration agreements and transactions. Randy King and Robert Thomas jointly lead the Houston-based team, which includes Jeremy Mouton, known for handling some of the oil and gas industry’s largest acquisitions, divestitures, joint ventures and securitization transactions (ABS), and James T Thompson, who specializes in the upstream, midstream and renewable segments of the energy industry.

A deep roster of clients across the full oil and gas value chain, most notably private equity and investment banks, continues to turn to Simpson Thacher & Bartlett LLP for advice on complex M&A and related financings, investments, and dispositions. The team also routinely handles transactions for companies in the upstream, midstream, petrochemical, oil field services, offshore and LNG sub-sectors. From the Houston office, Erland Modesto is a standout player in the energy-related financing sector, where he frequently advises major banks on high-profile financings in the energy space. Breen Haire’s wide client base includes companies operating in the oil and gas exploration and production, midstream, and oil field service sectors, while capital markets specialist Brian Rosenzweig is recognized for his expertise in advising on high yield offerings by energy issuers, including oil field service companies, upstream producers, and midstream companies. With broad expertise in oil and gas exploration and production, Brandan Still is also recommended. All practitioners are based in Houston.

With significant expertise in complex M&A, joint ventures, restructurings, and financings, Weil, Gotshal & Manges LLP continues to assist a range of energy and private equity companies in oil and gas exploration and production, energy trading operations, and low-carbon energy matters. Omar Samji focuses on hydrogen, carbon capture and sequestration, and energy storage, while Chris Bennet notably concentrates on the midstream oil and gas sectors, where he advises on divestitures, joint ventures, and partnership development and negotiation. Working closely with Samji and Bennet, Cody Carper is recognized for his knowledge of upstream and midstream oil and gas asset acquisitions and divestitures, energy financing, and equity joint venture transactions. All lawyers mentioned are in Houston.

From its Houston, New York and Washington DC offices, Willkie Farr & Gallagher LLP routinely handles a mixture of energy-related transactions spanning the upstream, midstream and downstream sectors. In addition to advising on the acquisition and divestiture of upstream and midstream assets, joint ventures and drilling partnerships, the team also handles financing and capital markets projects in the energy sector, including syndicated debt restructuring and structured energy commodities.  The ‘exceptional’ Archie Fallon leads the team and represents private equity funds and corporate clients in a variety of energy transactions, while Jay Hughes focuses on complex corporate energy transactions and Brad Honeycutt is the go-to choice for upstream and midstream North American oil and gas companies. Tan Lu joined the firm from Vinson & Elkins LLP in early 2023, bringing expertise in upstream and midstream acquisitions and divestitures. All mentioned attorneys are based in Houston.

Winston & Strawn LLP continues to operate across the entire oil and gas value chain, where it notably advises a deep roster of midstream clients on a number of transactions and financing matters related to crude oil gathering, natural gas gathering and processing, and LNG projects. In the upstream space, the team is also consistently assisting with acquisitions and dispositions, joint development, exploration and participation agreements. The firm’s energy and infrastructure industry group is jointly spearheaded by corporate finance and securities law expert Mike Blankenship in Houston and New York-based Mike Pikiel and Rich Shutran. From Dallas, Rodney Moore and Larry Murphy regularly handle a range of M&A, joint venture, and financing transactions in both the traditional upstream and midstream sectors and in the evolving transitional energy space, areas in which Houston-based Chris Ferazzi is also well-versed. Isaac Griesbaum left the firm to move in-house in September 2023.

With offices in strategic locations including Dallas, Austin, and Houston, A&O Shearman’s team advises a varied client base encompassing governments, national and international oil companies, trading houses and institutional investors on all aspects of the oil and gas value chain, including acquisitions, joint ventures and divestitures. Austin-based Sarah McLean is a key contact for complex acquisitions and divestitures of upstream and midstream oil and gas assets. Mona Dajani departed the practice in December 2023, whereas Omar Samji left the firm in April 2023.

Based in New Orleans, Jones Walker LLP fields a robust team of practitioners fully equipped to advise on a range of transactions in the oil and gas space. In addition to regularly handling oil and gas exploration and production, as well as carbon capture and sequestration matters, the team is noted for its expertise in LNG and for recently advising on the development of a range of multi-billion dollar energy and petrochemical facilities in Louisiana and Texas. Grady Hurley jointly leads the team with Marjorie McKeithen, a leader in carbon capture and sequestration, while offshore oil and gas specialist Jonathan Hunter is recognized for representing leading offshore operators in highly complex litigation, government investigations, and transactions. The team also includes David Hunter, who notably focuses his capabilities on infrastructure and clean energy projects and on oil and gas offshore development.

McDermott Will & Emery LLP continues to advise major oil and gas clients across the full spectrum of traditional energy transactions, including upstream assets, midstream gas gathering and processing assets, and chemical and fuel storage terminals. The team routinely handles complex M&A between large oil majors, joint venture agreements, service contracts as well as acquisitions and divestitures. From the Houston office, team lead Jack Langlois is regularly sought out by a number of both public and private companies, private equity investors, lenders and national oil companies for his knowledge of energy-related investments and financing, while Kevin Brophy‘s focus is on the upstream and midstream oil and gas industry. Parker Lee departed the firm in March 2024.

McGuireWoods LLP’s oil and gas practice acts for a variety of clients in the oil and gas sector on a number of complex matters both in the transactional and regulatory space which include advice on exploration, development and production. From the firm’s Pittsburgh office, practice head Anthony Carna is a key contact for publicly traded and privately held energy companies on mergers and acquisitions, joint ventures, and project development matters, while associate Molleigh Thomas is noted for her expertise in reviewing and drafting oil and gas lease transactions, mineral conveyances, and oil and gas title opinions.

Alongside its specialism in equity investments in pipelines, terminals and refineries, Milbank also has considerable expertise in advising on complex M&A, project development, and financing projects. Daniel Bartfeld and Daniel Michalchuk jointly lead the firm’s global project, energy and infrastructure finance practice from New York, routinely assisting a range of financial institutions, investment firms and multinational companies with a number of oil and gas transactions, including LNG projects, transportation infrastructure and energy-related projects in the US, and throughout Latin America.

Morgan, Lewis & Bockius LLP‘s oil and gas practice continues to provide comprehensive transactional advice to a wide range of clients, routinely assisting with new oil, natural gas and gas generation projects, tariff agreements, complex asset management arrangements, and the sale and acquisition of oil and natural gas assets. From Washington DC and Chicago respectively, Stephen Spina and Elizabeth Hanigan lead the firm, which includes Washington DC’s Kirstin Gibbs, noted for her expertise in developing new oil and gas infrastructure and negotiating midstream transportation and storage agreements, and Philadelphia’s Benjamin Wills, who handles midstream and downstream oil and gas transactions. From Houston, Felipe Alice is a key contact for energy transactions related to oil and gas infrastructure and power plant development.

A broad range of operators, lenders and private investors routinely turn to Skadden, Arps, Slate, Meagher & Flom LLP for advice on acquisitions, divestitures, financings and development programs in the oil and gas exploration and production sector. The team is also regularly involved in investments in oil and gas properties in the US, including drilling programs with strategic parties, company or individual property acquisitions. From the Houston office, Eric Otness jointly leads the team together with Washington DC’s Lance Brasher, whose broad practice spans gas-fired power generation, power transmission and distribution, LNG, and pipelines.