Energy transactions: oil and gas in United States

Baker Botts L.L.P.

With full-service capability regarding transactional matters, Baker Botts L.L.P. ‘brings powerful legal analysis that is coupled with an extremely commercial approach’ and the experienced oil and gas practitioners who make up the group have ‘a wealth of market knowledge and deploy that in their advice’. Joint ventures and capital raising in the oil and gas sector are a core part of the team’s caseload, but it is also active in the increasingly important areas of green and sustainable bonds, as well as environmental counselling and carbon capture projects. The deep bench of specialists is co-led by Jason Bennett in Houston, Mike Bengtson out of Austin, and Dallas-based David Emmons. Other key names in the practice group are senior counsel Steven Miles in Washington DC,  Erin Hopkins and Scott Looper in Houston, and Jonathan Platt, who works from Dallas.

Practice head(s):

Jason Bennett; Mike Bengtson; David Emmons

Other key lawyers:

Steven Miles; Erin Hopkins; Scott Looper; Jonathan Platt; Rob Butler; Matthew Fusina

Testimonials

‘Responsive, client-focused, and cost-effective for the caliber of service they provide.’

‘A fantastic team, led by Jason Bennett. The BB team brings powerful legal analysis that is coupled with an extremely commercial approach. They have a wealth of market knowledge and deploy that in their advice. They are much more like partners than advisors. They roll up their sleeves, dig into a project and become part of the deal team.’

‘Jason Bennett – one of the best lawyers and advisors in the market. Top five lawyers I have worked with over my 20 year career. He is a counsellor and advisor. He is who you want in a crisis.’

‘Rob Butler – a fantastic partner. Technically very strong but brings the commercial awareness that is the hallmark of the Baker team.’

‘Matthew Fusina – a brilliant lawyer who becomes a core part of every internal deal team. Earns the trust of his clients faster than almost any lawyer I have ever seen.’

Key clients

BP America, Inc.

Broken Hill Proprietary (USA), Inc.

Cabot Oil & Gas Corporation

Carrizo Oil & Gas, Inc.

CenterPoint Energy, Inc.

Chesapeake Energy Corporation

ConocoPhillips

Eagle Materials Inc.

Energy Spectrum Partners LP

EQT Production

ETX Energy, LLC

Hibernia Energy III, LLC

Hunt Energy Network L.L.C.

Hunt Oil Company

Kimbell Royalty Partners LP

MDC Texas Energy LLC

Murphy Exploration & Production Company

Tall Grass Energy, LP

Tudor, Pickering, Holt & Co.

Wyoming Governor’s Office

Work highlights

  • Advised Cabot Oil & Gas Corporation on its $17bn merger with Cimarex Energy Co., announced May 24, 2021.
  • Advised CenterPoint, as the largest common unitholder in midwestern US natural gas company Enable Midstream Partners LP, with regard to the latter’s approximately $7.2bn sale to competitor Energy Transfer LP in an all-equity transaction.
  • Represented BP in the $5.6bn sale of all its Alaska operations and interests to Hilcorp Alaska.

Kirkland & Ellis LLP

The Kirkland & Ellis LLP energy transactions team is ‘one of, if not the, best in the industry. They are exceptional practitioners, business oriented and completely understand the ins-and-outs of the key legal points’. The practice specializes in large acquisitions and the multidisciplinary team covers the spectrum of oil and gas matters, not least asset-backed securities and transactions involving assets located in all of the significant domestic shale and conventional plays, as well as the Gulf of Mexico. Andrew Calder focuses on complex M&A, corporate and securities law, and corporate governance. He co-leads the practice with Anthony Speier, who handles acquisitions, divestitures and the formation of joint ventures involving assets across the energy value-chain. Their Houston-based team includes ‘top energy transactional attorneyDavid Castro, as well as experienced practitioners Sean Wheeler, Kyle Watson, Chris Heasley, Lindsey Jaquillard, William Benitez and Rahul Vashi.

Practice head(s):

Andrew Calder; Anthony Speier

Other key lawyers:

David Castro; Sean Wheeler; Kyle Watson; Chris Heasley; Lindsey Jaquillard; Will Eiland; William Benitez; Rahul Vashi

Testimonials

‘The K&E O&G team is top notch in all aspects.’

‘David Castro, Kyle Watson, Chris Heasley, Lindsey Jaquillard, and Will Eiland are all stellar in every regard. They are always super thoughtful in their approach to any problems I throw at them, which is especially important in situations where we need to monitor our legal bill burn rate so that we don’t waste time and rack up large bills.’

‘The Kirkland energy transactions team is one of, if not the, best in the industry. They are exceptional practitioners, business oriented and completely understand the ins and outs of the key legal points.’

‘David Castro — top energy transactional attorney in the industry, so good.’

‘Rahul Vashi is excellent.’

‘Industry knowledge and vast experience. Appear to be active on the cutting edge transactions.’

Key clients

BCE-Mach III, LLC

Carnelian Energy Capital

Callon Petroleum Company

Devon Energy

EnerVest

EQT Corporation

Extraction Oil & Gas

GSO Capital Partners

HG Energy

Hilcorp Alaska

Indigo Natural Resources, LLC

Kohlberg Kravis Roberts & Co.

Magnolia Oil and Gas Corporation

Mesa Minerals

NGP Energy Capital Management

National Fuel Gas Company

Northern Oil and Gas

Parsley Energy, Inc.

Quantum Energy Partners, LP

SemGroup Corporation

Sentinel Midstream

Sixth Street Partners

SLANT Energy

The Blackstone Group

Latham & Watkins LLP

Representing clients from along the oil and gas value-chain, Latham & Watkins LLP advises on exploration and production matters, midstream infrastructure and LNG, and refining and petrochemicals. The firm has a strong reputation in upstream and midstream matters, but is also active in carbon capture and assisting traditional oil and gas clients transition to renewables. Practice head Justin Stolte is  global co-chair of the firm’s Energy & Infrastructure Group. The group also includes John M. Greer, who handles securities offerings, M&A, and general corporate and securities matters for public and private oil-and-gas companies; M&A and corporate-finance transactional specialist Ryan Maierson; Stephen Szalkowski, who focuses on domestic energy transactions; and corporate and M&A specialist Lauren Anderson who advises both private equity and strategic industry-players throughout the energy and infrastructure sectors. This impressive bench was further strengthened in 2021 by the arrivals of Trina Chandler and James Garrett from Vinson & Elkins LLP; the pair boost the  firm’s conventional power and M&A expertise, respectively. All named individuals are based in Houston.

Practice head(s):

Justin Stolte

Other key lawyers:

John Greer; Ryan Maierson; Stephen Szalkowski; Lauren Anderson; Trina Chandler; James Garrett

Testimonials

‘Industry knowledge and experience. Practical advice.’

Key clients

ArcLight Capital, LLC

Chesapeake Energy

Chevron USA

Colgate Energy

Centennial Resource Production

Diamondback Energy, Inc.

Energy Transfer LP

EQT Corporation

ExxonMobil Corporation

Global Infrastructure Partners

Hess Corporation

Navios Maritime Containers L.P.

Nine Point Energy

Phillips 66

QEP Resources, Inc.

Sasol Chemicals (USA) LLC

Spartan Energy Partners, LP

Sunoco LP

TechnipFMC

Vencer Management, LLC

Work highlights

    Vinson & Elkins LLP

    Combining ‘great experience and expertise, strong knowledge of the energy industry and ability to handle highly-complex transactions’, Vinson & Elkins LLP’s oil-and-gas practice draws from the firm’s strength in tax, environmental and regulatory law. With substantial cross-border experience, the group advises clients including producers, developers, midstream companies, oilfield-services companies, banks, regulatory commissions, contractors, fuel suppliers, private equity investors and hedge funds on matters the length of the hydrocarbons value-chain. The practice is led by three co-heads: John Connally, who handles the spectrum of domestic and international upstream and midstream M&A, joint ventures and development transactions; Kaam Sahely, whose experience covers renewable and sustainable energy-assets, power generation, traditional hydrocarbons’ and infrastructure assets; and Keith Fullenweider, who advises private equity firms and their portfolio companies on investments, financings and exit transactions. Other key names in the practice are transactional lawyer Bryan Loocke and Danielle Patterson, who focuses on the energy and infrastructure industries. All named individuals are based in Houston.

    Practice head(s):

    John Connally; Kaam Sahely; Keith Fullenweider

    Other key lawyers:

    Bryan Loocke; Danielle Patterson

    Testimonials

    ‘Everyone on the team has outstanding knowledge of the legal issues affecting our transactions, along with outstanding knowledge of market terms for transactions involving our industry.’

    ‘They are very intelligent, very hardworking, excellent negotiators and well aware of the terms for transactions in our industry.

    ‘Great experience and expertise, strong knowledge of the energy industry and ability to handle highly complex transactions.

    ‘Extremely knowledgeable and creative. On the forefront of deal developments. Very practical in providing advice.

    Key clients

    Antero Resources Corporation

    Blackstone Energy Partners and Blackstone Capital Partners

    Caerus Oil and Gas LLC

    The Carlyle Group, L.P.

    Charger Shale Oil Company

    Chisholm Oil and Gas, LLC

    Devon Energy Corp.

    Driftwood LNG LLC and Tellurian Inc.

    Energy Transfer Partners

    Flywheel Bakken, LLC

    Lucid Energy Group II, LLC

    Momentum Midstream

    Noble Midstream Partners LP

    Northwoods Energy LLC

    Oasis Petroleum LLC

    Osaka Gas Co.; Osaka Gas USA Corporation

    Pioneer Natural Resources USA, Inc.

    Plains All American Pipeline

    Quantum Energy Partners

    Riverstone Holdings L.L.C.

    Rosehill Resources, Inc.

    SandRidge Energy, Inc.

    Select Energy Services, Inc.

    TPG Capital Management, L.P. and subsidiaries

    Unit Corporation

    XCL Resources

    Work highlights

    • Advised DoublePoint Energy in connection with the sale of its leasehold interests and related assets to Pioneer Natural Resources Company.
    • Advised an affiliate of Talos Energy in connection with its $65m acquisition (cash and stock), of 16 selected assets from affiliates of Castex Energy 2005.
    • Advised funds managed by Oaktree Capital Management on the launch of a partnership with FourPass Energy to acquire and operate large-scale, oil-weighted, productive oil and gas assets.

    Akin Gump Strauss Hauer & Feld LLP

    Akin Gump Strauss Hauer & Feld LLP’s oil-and-gas transactional practice is led by the experienced John Goodgame, who is well regarded for strategic and capital-raising transactions in the energy sector. The firm’s broad engagement in the area includes matters involving oil and gas, petrochemicals, liquefied natural gas, coal, utilities, renewables and energy transition matters on behalf of public and private companies, sponsors, portfolio companies and management teams and investors from upstream to down. A key name in the team is David H. Sweeney, whose expertise ranges from exploration, production and processing to infrastructure and monetization; both he and Goodgame are based in Houston.

    Practice head(s):

    John Goodgame

    Other key lawyers:

    David Sweeney

    Key clients

    Diamondback Energy, Inc.

    Yorktown Partners LLC

    7-Eleven, Inc.

    Golar LNG Partners LP

    Genesis Energy L.P.

    Laredo Petroleum, Inc.

    Viper Energy Partners LP

    Pacific Drilling

    Amberjack Capital Partners LLC

    EP Energy

    PJSC LUKOIL

    Crestwood Equity Partners LP

    Rattler Midstream LP

    Schlumberger / Schlumberger New Energy

    HighPoint Resources Corporation noteholders

    Apache Corporation

    Approach Resources Inc.

    Tailwater Capital LLC

    ENR Partners II LP

    San Isidro Energy Company II, LLC

    Grenadier Energy III, LLC

    Tapstone Energy Holdings, LLC

    Viper Energy Partners LP

    Work highlights

    • Represented long-time client Diamondback Energy, an independent oil and natural gas company, in various M&A, capital markets and finance transactions over the past year; aggregate value approixmately $10bn.
    • Represented funds managed by Yorktown Partners in connection with the $2.7bn merger of one of its portfolio companies, Indigo Natural Resources, with Southwestern Energy Company.
    • Represented the conflicts committee of the board of directors of midstream-operator Golar LNG Partners, in its $1.9bn sale to global energy-infrastructure company, New Fortress Energy.

    Bracewell LLP

    Led by Alan Rafte and James McAnelly in Houston, the deep bench of oil-and-gas experts at Bracewell LLP covers an array of energy transactional matters, including those related to upstream exploration and development companies; oilfield service businesses; pipeline, storage and terminals companies; refining and petrochemicals companies; and commercial banks, trading houses and private equity investors. The firm is particularly known for energy finance and its strength in cross-border matters, with notable experience in the US, Europe, Africa, the Middle East, the North Sea region, Latin America and Canada.

    Practice head(s):

    Alan Rafte; James McAnelly

    Testimonials

    ‘Deep subject matter knowledge.’

    Key clients

    Navigator CO2 Ventures LLC

    Phillips 66

    Pioneer Natural Resources

    Apache Corporation

    Kinder Morgan, Inc.

    WaterBridge Resources

    Howard Energy

    Sabalo Energy, LLC

    Juniper Capital Advisors

    Holly Energy Partners, L.P.

    Work highlights

    • Representing Navigator CO2 Ventures (aBlackRock Global Energy & Power Infrastructure Fund III portfolio company), in developing an industrial-scale carbon-capture pipeline system.
    • Represented Phillips 66 in the formation of a 50/50 joint venture (Bluewater Texas Terminal), with Trafigura Group so ass to develop an offshore deepwater-port project in the Port of Corpus Christi.
    • Represented Kinder Morgan in its $1.225bn acquisition of Stagecoach Gas Services, a natural gas pipeline and storage joint venture between Consolidated Edison and Crestwood Equity Partners.

    Gibson, Dunn & Crutcher LLP

    Gibson, Dunn & Crutcher LLP advises clients throughout the oil and gas sector, including exploration, development and production companies; oilfield services and equipment operators; pipeline and other midstream companies and downstream businesses, as well as representing financial institutions, private equity firms and government entities active in the sector. Houston-based Michael Darden is practice head and focuses on international and domestic oil and gas ventures, energy infrastructure projects, asset acquisitions and divestitures, and energy-based financings.

    Practice head(s):

    Michael Darden

    Other key lawyers:

    Hillary Holmes; Michael De Voe Piazza

    Key clients

    Pioneer Natural Resources

    Contango Oil & Gas Company

    Atmos Energy

    Occidental Petroleum

    Patterson-UTI Energy, Inc.

    Crestone Peak Resources

    Solaris Water Midstream, LLC

    The Williams Companies

    Bank of America

    Goldman Sachs

    Work highlights

      Shearman & Sterling LLP

      Recommended for its ‘depth of experience across the disciplines', Shearman & Sterling LLP provides broad market knowledge that covers upstream, midstream and downstream matters. The firm also has particular expertise in the private equity space, advising sponsors and managers on oil and gas deals. Hugh Tucker focuses on commercial transactions related to the oil and gas, chemical and real estate sectors including acquisitions, divestitures, joint ventures, project development and financing. He co-leads the team from Houston with Sarah McLean, whose forte is private equity transactions - notably portfolio company investments, acquisitions and divestitures of upstream and midstream oil-and-gas assets, and midstream joint ventures. Another key name is Coleson Bruce in Austin, who handles a range of commercial transactions in the energy sector. The team continues to grow and 2021 saw the arrivals of Emily Leitch from Jones Day, Daniel Tristan from Baker Botts L.L.P. and counsel Gabriel Salinas from Avant Energy.

      Practice head(s):

      Hugh Tucker; Sarah McLean

      Other key lawyers:

      Coleson Bruce; Mallory Brennan; Erin Kaufman; Emily Leitch; Daniel Tristan; Gabriel Salinas

      Testimonials

      ‘Have worked with all levels within their firm and they are especially good at combining the right level of legal resource to the work required.

      ‘Sarah McLean is the best counsel I have worked with in the Energy space. She is smart, practical, business minded and has really helped us focus on the important issues when negotiating transactions.

      ‘Their firm has depth of experience across the disciplines we need and has been able to give us good counsel on almost every technical legal issue we have experienced.

      ‘Mallory Brennan has been tough but fair in helping us negotiate and settle some challenging business issues.

      ‘Erin Kaufman has consistently delivered timely, high quality work product on M&A transactions we pursued.

      Key clients

      Oryx Midstream Services, LLC  / Oryx Midstream Services II, LLC

      Oil Search Limited

      Orion Mine Finance

      CSW Industrials

      Mubadala

      Elephant Resources, LLC

      Tatanka Midstream, LLC

      Diversified Energy

      Ecopetrol

      Chevron

      Chesapeake Energy Corp

      Work highlights

      • Advised EnCap Flatrock Midstream on the sale of its portfolio company, Moda Midstream (which included the $3bn sale of Moda Ingleside Energy Center, one of the nation’s largest crude export terminals), to Enbridge
      • Advised Diversified Energy Company on its joint (with Oaktree Capital Management) acquisition of Tanos Energy Holdings III’s upstream oil and gas assets (and related facilities in Louisiana and Texas).
      • Advised Elephant Resources and its affiliates Elephant Assets and Elephant Nominee Corporation (collectively “Elephant”),on the negotiation of a Development Agreement with Warwick-Artemis, a newly formed subsidiary of Warwick Investment Group.

      Simpson Thacher & Bartlett LLP

      The multidisciplinary Simpson Thacher & Bartlett LLP practice is co-led by David Lieberman, head of the firm’s Energy and Infrastructure group, and Robert Rabalais, who focuses on lending and capital markets transactions in the oil-and-gas exploration and production segments, as well as in the midstream and related service sectors; both are based in Houston. The firm has strength in capital markets transactions and debt deals for oil and gas companies, as well as being active in a range of oil-and-gas transactions along the value chain – from exploration and production, to midstream, refining and petrochemicals.

      Practice head(s):

      David Lieberman; Robert Rabalais

      Key clients

      Apollo Credit

      ARM Energy Holdings

      Arsenal Resources (fka Mountaineer Keystone)

      Bank of Montreal

      BlackRock

      Blackstone Group

      Glass Mountain Pipeline

      Global Infrastructure Partners

      Goldman Sachs

      JPMorgan Chase Bank, N.A.

      KKR

      Morgan Stanley

      Oil States International

      Post Oak Energy Capital

      Quantum Energy Partners

      Riverstone Credit Partners

      Sixth Street Partners

      Seven Generations Energy

      Stonepeak Partners L.P.

      TNT Crane & Rigging, Inc.

      Venture Global LNG

      Wells Fargo Bank, N.A.

      Work highlights

        White & Case LLP

        Houston-based Jay Cuclis leads the team at White & Case LLP and has experience in a range of energy industry transactions, including domestic US hydrocarbons M&A, project development and finance, and joint venture work, as well as advising on unconventional and conventional onshore basins in North America and offshore transactions in the Gulf of Mexico. Clients include independents, integrated oil majors, international E&P companies, private equity funds, banks, investors, operators, national oil companies and commodity traders.

        Practice head(s):

        Jay Cuclis

        Other key lawyers:

        Saul Daniel; Chris Peponis; Bryan Cory

        Testimonials

        ‘Jay Cuclis and his team are experts in the practice of energy transactions and know how to collaborate with not just in-house counsel but also the business clients.’

        ‘Jay Cuclis is a true expert in the field of energy law and specifically with respect to international work. He has pulled together an excellent team in Saul Daniel, Chris Peponis and Bryan Cory. They work well as a team and their expertise covers all areas of exploration, development and production for gas and oil projects.

        Key clients

        EOG Resources, Inc.

        Occidental Petroleum Corporation

        Sixth Street Partners

        Vitol

        ARM Energy Holdings, LLC

        Macquarie Infrastructure Corporation

        Old Ironsides Energy, LLC

        Chevron Corporation

        Saudi Arabian Oil Company (Saudi Aramco)

        Sempra Energy

        Work highlights

          Willkie Farr & Gallagher LLP

          Willkie Farr & Gallagher LLP‘s Houston-based practice is known for its expertise in M&A, private equity, finance, restructuring, regulation, compliance and enforcement. Particular strengths of the team include the acquisition and divestiture of upstream and midstream assets, establishment of joint ventures, drilling partnerships and asset-level projects; energy finance and capital markets mandates; the formation of private equity funds and vehicles dedicated to energy investing; and corporate governance advice.

          Key clients

          Andros Capital Partners LLC

          Axis Energy Services, LLC

          Bruin Purchaser LLC (Bruin E&P)

          Carnelian Energy Capital III, L.P.

          Colony Capital, Inc.

          Enstor Gas, LLC

          Hawthorne Energy

          Haymaker Minerals

          Houston Energy

          Intrepid Partners

          Juniper Capital

          Laredo Petroleum, Inc.

          Oaktree Capital Management

          OneNexus Environmental

          Percussion Petroleum

          Pickering Energy Partners

          Rod and Tubing Services

          Samson Resources II, LLC

          Work highlights

            Holland & Knight LLP

            Holland & Knight LLP merged with Thompson & Knight in August 2021 and the firm (operating as Holland & Knight LLP) has ‘great experience in the oil and gas industry and a great reputation’. Work spans the sector and covers development, production, financings, storage and marketing, transportation and processing of energy resources. Tim Moran in New York, and Austin-based Juan Alcalá, are the Energy & Natural Resources Industry group co-heads and lead the team in the oil and gas segment with Robert Dougherty in Dallas. Dougherty’s practice centres on acquisitions, dispositions and joint ventures relating to oil and gas properties and exploration and production companies.

            Practice head(s):

            Juan Alcalá; Robert Dougherty; Tim Moran

            Other key lawyers:

            Tim Samson; Andy Derman; Gabriel Ruiz

            Testimonials

            ‘The HK team has great experience in the oil and gas industry and a great reputation through the acquisition of Thompson & Knight. HK’s reputation in the oil and gas industry is excellent and the firm delivers consistent work product.’

            ‘Tim Samson is a very experienced partner who is extremely responsive and helpful. Gabriel Ruiz is a partner in the Mexico office with great contacts and knoweldge of the Mexican oil and gas industry. Their team is exceptional and staffs its deals with an appropriate number of attorneys, as opposed to some of its competitors.’

            ‘Andy Derman is one of the few remaining true experts in international oil and gas matters, ranging from complex transactional issues, disputes, maritime boundary issues and just about everything else along the way.’

            Key clients

            Fieldwood Energy LLC

            Howard Midstream Energy Partners

            Natural Gas Partners

            Neste Oyj

            Oil India Limited

            Petrobras America Inc.

            PivotalPetroleum Partners

            Riley Exploration Permian, Inc.

            Stabilis Solutions, Inc.

            Surge Energy

            Work highlights

            • Advised Surge Energy on its $420m acquisition of producing properties in Texas from Grenadier Energy Partners II.
            • Advised Riley Exploration-Permian pn its merger with Tengasco, Inc.
            • Advised IPR Energy Group on its acquisition of key oil and gas exploration and production concessions in Egypt by way of farm-out agreements.

            Hunton Andrews Kurth LLP

            Hunton Andrews Kurth LLP represents multinational oil-and-gas companies in litigation, advises governments on the development of regulatory regimes, and assists energy companies, investors and lenders on the development, financing and acquisition of oil-and-gas interests. The team’s experience also covers oil-and-gas acreage, asset and entity acquisitions, and transactions involving exploration, production, development and transportation. Energy transactions specialist Harve Truskett leads the team from Houston and can call on the expertise of Michael O’Leary  (also in Houston) who focuses on corporate securities and M&A in the energy space.

            Practice head(s):

            Harve Truskett

            Other key lawyers:

            Michael O’Leary

            Key clients

            Al-Waha Petroleum Company Limited

            Emirates Global Aluminium PJSC

            Sable Permian Resources, LLC

            Vopak Americas

            OEG Offshore

            United States International Development Finance Corporation

            Remora Petroleum, LP

            San Juan Holdings LLC

            Ascribe III Investments

            Stakeholder Midstream

            SP Capital Holdings, LLC

            Conflicts Committee of the Board of Directors of the General Partner of Rattler Midstream LP

            Limetree Bay Terminals LLC

            Work highlights

            • Advising CNPC-subsidiary Al-Waha Petroleum Company on commercial agreements relating to its role as an international oil-and-gas contractor in Iraq, including negotiating amendments to an upstream petroleum contract, a joint venture agreement, and subcontracting agreements for oilfield services.
            • Ongoing advice to Emirates Global Aluminium in connection with several gas sales-agreements signed during the previous year, including amendments to gas sales-agreements with ADNOC and Dolphin Energy and gas-to-power tolling agreements with Dubai Natural Gas Company (DUGAS) and Emirates Electricity and Water Corporation (EWEC).
            • Advised Royal Vopak and BlackRock’s Global Energy & Power Infrastructure Fund on the formation of a joint venture, Vopak Industrial Infrastructure Americas, and then on its subsequent $620m purchase of three of Dow Chemical Company’s chemical storage terminals on the US Gulf Coast.

            Jones Day

            Well regarded for ‘significant expertise in energy deals’ as well as ‘good depth among the team', Jones Day represents clients operating in upstream, midstream and downstream oil-and-gas markets and infrastructure development. The firm’s broad experience includes regulatory issues arising during acquisitions, mergers and other transactions that require FERC approval. Practice head Jeffrey Schlegel is based in Houston and has particular expertise in oil and gas, chemicals/petrochemicals and energy-related infrastructure.

            Practice head(s):

            Jeff Schlegel

            Testimonials

            ‘Significant expertise in energy deals; good depth among the team’

            ‘Excellent experts at managing energy deals (esp. Jeff Schlegel)’

            Key clients

            Chevron

            OGE Energy Corp

            National Fuel Gas Company

            Marathon Petroleum

            CITGO Petroleum Corporation

            Work highlights

              King & Spalding LLP

              Creative and super commercial’, King & Spalding LLP's practice advises oil-and-gas sector clients on a range of transactions including acquisitions, divestments, financing, offtake agreements and high-value EPC contracts. The Houston-based team is co-led by Stuart Zisman, who acts primarily in midstream and downstream energy transactions and projects, and construction law specialist Scott Greer. Another key practitioner is Peter Hays, a commercial oil-and-gas lawyer who handles upstream, midstream and downstream hydrocarbons transactions.

              Practice head(s):

              Stuart Zisman; Scott Greer

              Other key lawyers:

              Peter Hays

              Testimonials

              ‘The team is creative and super commercial. They bring tons of value through their creativity and willingness to think outside the box to achieve client needs.’

              ‘Peter Hays is an excellent partner in their energy transactions practice. A huge part of the value he adds is his up front contribution – willing to brainstorm and help clients structure their transactions in a way that set them up for success. He’s a pleasure to work with.’

              Key clients

              Anadarko Petroleum Corporation

              Bayport Polymers

              Brookfield Infrastructure Partners LP

              Castleton Resources

              Cheniere Energy

              Chevron Corporation

              Clear Fork Inc

              Commonwealth LNG, LLC

              ConocoPhillips

              Enervest Inc.

              Enterprise Products

              EOG Resources, Inc.

              Exterran Corporation

              Helmerich & Payne

              HOBO Renewable Diesel

              InstarAGF Asset Management Inc.

              JPMorgan

              Kinder Morgan Inc.

              Kraton

              Mitsui & Co., Ltd.

              Providence Energy

              P66

              Rockcliff Energy

              Starwood Energy Group Global Inc.

              Tallgrass Energy Partners, LP

              Third Coast Midstream

              Trafigura

              Work highlights

              • Advised Kraton Corporation on its acquisition (in a public M&A deal) by DL Chemical Company – an all-cash transaction valued at approximately $2.5bn.
              • Represented Natural Gas Pipeline Company, a joint venture between Kinder Morgan and Brookfield Infrastructure Partners, on the $830m sale of a 25% minority interest to a fund controlled by ArcLight Capital Partners.
              • Represented Trafigura Trading on a renewable hydrocarbons (drop-in biofuels) purchase-and-sales agreement with Gevo, valued at nearly $1bn.

              McGuireWoods LLP

              Anthony Carna leads McGuireWoods LLP's practice from the firm’s Pittsburgh office, advising publicly-traded and privately-held energy companies on M&As, joint ventures, project development, regulatory matters and mineral conveyancing among other matters in the energy industry. The team is best-known for representing energy clients that explore, develop, produce, store, market, transport and process energy resources, with particular expertise in M&A (both traditional and strategic assets), infrastructure projects and general commercial work.

              Practice head(s):

              Anthony Carna

              Work highlights

              • Representation of Dominion Energy in the pending $1.975bn sale of Questar Pipelines to Southwest Gas Holdings Inc., including the assumption of $430m of existing indebtedness.

              Norton Rose Fulbright

              Norton Rose Fulbright advises across the spectrum of upstream, midstream and downstream matters for a client roster that includes for NOCs, IOCs, independents, oil and gas producers, oilfield services companies, refiners, energy traders and marketers. The firm also represent banks, multilateral and bilateral/export credit agencies, equity infrastructure investors and other financial institutions active in the sector. Global head of energy John Mauel leads the practice from the firm's Houston office, where senior associate Jessica Rodriguez -who handles energy matters, notably those related to pipeline systems, oil and gas properties and LNG export projects- also impresses.

              Practice head(s):

              John Mauel

              Key clients

              Shell Oil Company

              BHP

              Atlas Operating Company

              Work highlights

              • Representing Royal Dutch Shell subsidiary Shell Enterprises in connection with the sale of its Permian business.
              • Advised multilateral lenders in connection with the financing of the Acajutla LNG-to-power project in El Salvador, including all associated aspects of the FSRU conversion, construction and financing, as well as the financing of the power plant and all associated facilities.
              • Advised oilfield services group Pioneer Energy Services on its $295m sale to Patterson-UTI Energy, a land-drilling and pumping-services provider.

              Orrick, Herrington & Sutcliffe LLP

              Recommended for being ‘efficient, business oriented' and having 'an incredible ability to communicate succinctly and clearly’, Orrick, Herrington & Sutcliffe LLP handles transactions the length of the oil-and-gas value-chain. The team’s work includes upstream, midstream, downstream matters, natural gas infrastructure, oilfield services with respect to M&A, joint venture arrangements, exploration, production and development projects. Blake Winburne has particular strength in M&A, joint ventures and other strategic arrangements, financings and project-development work in the oil-and-gas sector. He co-leads the team from Houston with Dahl Thompson.

              Practice head(s):

              Blake Winburne; Dahl Thompson

              Testimonials

              ‘Efficient, business oriented and an incredible ability to communicate succinctly and clearly to our business team. The Orrick team has it all.’

               

              Key clients

              Equinor

              TotalEnergies

              ConocoPhillips

              Chevron

              Occidental Petroleum Corp.

              Munich Re Risk Reserve Financing, Inc.

              Nuveen (investment manager of Teachers Insurance and Annuity Association of America)

              Wells Fargo Bank

              NOVA Chemicals

              Ares Management

              Corpus Christi Polymers, LLC

              ArcLight Capital Partners, LLC

              Ocean Rig UDW, Inc.

              Schlumberger

              WGL Midstream

              Cabot Oil & Gas Corp

              Vega Energy

              Work highlights

              • Advised Occidental Petroleum Corp. on the commercialization of carbon capture utilization and storage technology to capture airborne CO2 and permanently sequester it underground.
              • Advised Equinor on an agreement to divest its interests in the Bakken field in North Dakota and Montana to Grayson Mill Energy (backed by EnCap Investments), for a total consideration of $900m.
              • Advised Third Coast Midstream on the sale of its natural gas transmission business (including seven regulated natural gas lateral pipelines with a total capacity of over 1,600 MDth per day and stretching approximately 550 miles) to Basalt Infrastructure Partners for an undisclosed amount.  

              Porter Hedges LLP

              Advising energy clients on day-to-day contract and operational negotiations, Porter Hedges LLP provides expertise in oil-and-gas sector water-asset acquisitions and sales. Robert Thomas represents domestic and international oil-and-gas companies on all aspects of the energy business and has particular expertise in the up- and midstream markets; he co-leads the team with Randy King, who focuses on a wide range of energy-related on- and offshore projects, including international mandates. Both Thomas and King are based in Houston.

              Practice head(s):

              Robert Thomas; Randy King

              Testimonials

              My preference in outside transaction-counsel are professionals that are up to speed not only on current rules and regulations impacting potential transactions as well as custom and practice and what’s customary in typical PSAs, stock or merger agreements. I’m also looking for counsel that is easy to work with and understands the business well enough to know when counsel on the other side is blowing smoke. Porter Hedges has all of this as well as any of the rapidly changing technologies that come along to facilitate negotiating and consummating a transaction.

              As someone with 40 years’ experience in the oil-and-gas sector with a specific focus on transactions, I can say that the folks I’ve worked with are some of the very best in this area. All of those who I’ve worked with at Porter Hedges have extensive oil-and-gas transaction experience with some of the partners at the top having track records that if not the best are very close to the top in experience relative to the broad spectrum of situations you might run into. They have been side by side with me on hundreds of transactions (buying and selling) and on multiple billion-plus transactions.

              Key clients

              The Williams Companies

              Noble Energy/Chevron USA, Inc.

              Black Stone Minerals, L.P.

              Laramie Energy

              Western Midstream Partners

              Strata Royalty Partners

              Salt Creek Midstream

              PureWest Energy

              Franco-Nevada Corporation

              Sage Road Capital

              Work highlights

              • Represented The Williams Companies in its negotiation of a joint venture with Crowheart Energy.
              • Represented The Williams Companies on its acquisition of Southland Royalty Company’s Wamsutter Field assets, as a part of Southland’s Chapter 11 reorganization process.
              • Represented Franco-Nevada Corporation on its $135m acquisition of a royalties portfolio from Mesa Minerals Partners.

              Reed Smith LLP

              The Reed Smith LLP practice is ‘highly experienced and skilled at navigating its clients through the legal maze of today’s oil-and-gas landscape’. The firm specializes in finance matters related to the sector and demonstrates particular expertise in downstream commodities trading and commodities finance, as well as providing solid upstream and midstream service offerings. Prajakt Samant in London and Houston-based Stan Perry co-lead a global team that also includes Ryan Purpura in Pittsburgh, who primarily focuses on advising upstream oil-and-gas companies, but also handles the gamut of supply and distribution-chain matters.

              Practice head(s):

              Prajakt Samant; Stan Perry

              Other key lawyers:

              Ryan Purpura; Ryan Haddad

              Testimonials

              ‘The Reed Smith O&G team is highly experienced and skilled at navigating its clients through the legal maze of today’s O&G landscape.’

              ‘Reed Smith’s O&G team, and especially Ryan Purpura and Ryan Haddad, are experts in their field and highly seasoned and adept at providing practical advise to their clients, doing so efficiently and timely.’

              Work highlights

                Weil, Gotshal & Manges LLP

                Weil, Gotshal & Manges LLP’s team is ‘very experienced in complicated matters', ‘very responsive’ and is particularly recommended for its close cooperation with the firm’s restructurings and Chapter 11 bankruptcy practice. Other areas of strength include M&A, joint ventures and the financing of securitization transactions, as well as providing experienced counsel in the private equity space. Working out of both Dallas and Houston, Rodney Moore leads the department and is known for advising PE firms and public and private companies on acquisitions, divestitures and joint venture transactions in the oil-and-gas industry.

                Practice head(s):

                Rodney Moore

                Other key lawyers:

                Samuel Peca

                Testimonials

                ‘The Weil team is very experienced in complicated matters and very responsive. The team assisted me in a time-intensive transaction and kept up their energy throughout the transaction. Because the energy team works with Weil’s top-rated restructuring team, their experience is vast in very complicated transactions.’

                ‘Rodney Moore is a very experienced partner who worked closely with me. He provided expert advice in our transaction and advocated well with opposing counsel. Samuel Peca handled most of the work on the transaction and did an excellent job.’

                Key clients

                Aethon United

                Algonquin Power & Utilities Corp.

                Apergy Corporation

                Basic Energy Services, Inc.

                Blackstone Energy Partners

                ChampionX

                Chevron U.S.A. Inc.

                Chishom Oil and Gas Operating LLC

                EP Energy Corporation

                Fieldwood Energy LLC (n/k/a QuarterNorth Energy Holding Inc.)

                Gavilan Resources

                Golden Gate Capital

                GSO

                Kinder Morgan

                Ontario Teachers’ Pension Plan

                PSP Investments

                RBC Capital Markets

                Searchlight Capital Partners

                SMBC Nikko Securities

                Truist Securities

                Wells Fargo

                Work highlights

                • Advising Blackstone Energy Partners, as 70% stakeholder in Vine Energy, (a developer of natural gas properties in the Haynesville Basin of northwest Louisiana), on the latter’s pending $2.2bn sale to Chesapeake Energy Corporation.
                • Advised oil-and-gas exploration and production business EP Energy Corporation, and certain of its affiliates, on their chapter 11 cases involving approximately $4.9bn in funded debt obligations.
                • Advised Fieldwood Energy (an acquiror and developer of conventional oil and gas assets in North America, including the Gulf of Mexico), on its $1bn sale of all deepwater assets and certain shallow water and other assets to QuarterNorth Energy Holding, as part of Fieldwood’s chapter 11 bankruptcy proceedings.

                Winston & Strawn LLP

                With experience throughout the oil-and-gas value chain, Winston & Strawn LLP has expertise in upstream matters and also on the up/midstream juncture, including commercial contracts. However, the practice stands out for its strength in the midstream market, advising clients including on issues ranging from water gathering and disposal, interstate pipelines, crude oil gathering, natural gas gathering and processing, and LNG projects. The practice is co-led by Mike Blankenship in Houston, the San Francisco-based Joe Karp, and Mike Pikiel and Rich Shutran in New York . Another key name in the practice group is Isaac Griesbaum in Houston, who focuses on up- and midstream oil and gas, oilfield services, and the produced water segment. Oil-and-gas specialist Max Stubbs joined from Locke Lord LLP in January 2022, further strengthening the Houston team.

                Practice head(s):

                Mike Blankenship; Mike Pikiel; Rich Shutran; Joe Karp

                Other key lawyers:

                Isaac Griesbaum

                Key clients

                ION Geophysical Corporation

                National Oilwell Varco, Inc.

                NGL Energy Partners LP

                NOW Inc.

                PER Manager, LLC

                Ranger Energy Services, Inc.

                SandRidge Energy, Inc.

                Silver Wolf Midstream LLC

                WaterBridge Resources LLC

                Work highlights

                • Represented WaterBridge Holdings in connection with its acquisition from Colgate Energy of the produced-water infrastructure associated with Colgate’s recent asset acquisition from Oxy in the Delaware Basin.
                • Represented independent well service rigs provider Ranger Energy Services in the closing of its previously announced acquisition of certain assets of Basic Energy Services (and its subsidiaries) through its controlled subsidiary, Ranger Energy Acquisition.
                • Represented independent oil and gas company SandRidge Energy in connection with the all-cash sale of its North Park Basin upstream oil-and-gas assets located in Jackson County, Colorado, to Gondola Resources.

                Cleary Gottlieb Steen & Hamilton

                Full-service firm Cleary Gottlieb Steen & Hamilton assists energy clients with M&A, capital markets, restructurings, project financings, litigation and regulatory matters. In the oil and gas sector, the firm advises on exploration and production activities, the refining and marketing of oil and its derivatives, and pipelines and other related infrastructure, as well as liquefied natural gas and gas-to-liquids projects. Richard Cooper and Jeffrey Lewis co-lead the team from New York.

                Practice head(s):

                Rich Cooper; Jeff Lewis

                Key clients

                Underwriters to Chevron

                Ad Hoc Group of Secured Project Finance Lenders

                Petróleo Brasileiro (Petrobras)

                Grupo IDESA

                Credit Suisse

                Bladex

                Group Financiero Inbursa

                YPF (and three of its subsidiaries)

                Initial Purchasers to ENAP

                Work highlights

                  Eversheds Sutherland

                  New entrant to the rankings Eversheds Sutherland specialises in cross-border matters, with experience along the energy value-chain, including upstream, midstream, downstream and oil field services. Houston-based Benjamin Clark focuses on M&A, joint ventures and strategic alliances in the energy sector, with a particular focus on the oil-and-gas segment; his client base includes electric and gas utilities, pipelines, refineries, commodity trading firms and oilfield service companies. Clark's fellow practice co-head is Ram Sunkara, also in Houston, handles M&A, energy trading arrangements and joint ventures, and is a veteran of oil-and-gas transactional matters.

                  Practice head(s):

                  Benjamin Clark; Ram Sunkara

                  Key clients

                  Freepoint Commodities

                  Element Markets

                  Castleton Commodities International

                  Schoeller-Bleckmann Oilfield Equipment

                  ARM Energy Management

                  Shell

                  Vitol

                  Colonial Pipeline

                  Work highlights

                  • Advised Freepoint Commodities in connection with its participation in the equity financing, debt restructuring and corporate restructure of its Limetree Bay joint venture with ArcLight Capital Partners (and a group of investors led by EIG Global Energy Partners), so as to finance a refinery restart project in St Croix, as well as terminal and other related services.
                  • Represented the majority owners of Element Markets on the sale of an 80% majority interest sale to The Rise Fund, a global impact investing platform managed by alternative asset firm TPG.
                  • Represented Castleton Commodities International on the auction and subsequent sale to private equity firm Tailwater Capital of NorTex Midstream Partners.

                  Greenberg Traurig LLP

                  Greenberg Traurig LLP provides transactional, regulatory and litigation expertise to clients throughout the energy sector, including oil and gas, LNG, electricity, coal and renewable energy. A particular strength of the practice group lies in the developing areas of hydrogen, carbon sequestration and carbon-credit programs. The team is co-led by William S. Garner in Houston, Kenneth Minesinger from Washington DC and New York-based Iskender Catto.

                  Practice head(s):

                  William Garner; Kenneth Minesinger; Iskender Catto

                  Key clients

                  Oil & Gas Climate Initiative Fund

                  Texas LNG

                  Summit Agricultural Group

                  NGL Energy Partners

                  Alaska Gasline Development Corporation

                  Certum

                  Spot X Energy

                  Work highlights

                  • Representation of Summit Agricultural Group in the largest carbon sequestration project in the world and the largest American pipeline network for any product constructed in the US since 1970.
                  • Representing the State of Alaska and Alaska Gasline Development Corporation in connection with efforts to induce the construction of a major LNG export project, the Alaska LNG Project; if built, it will be one of the largest infrastructure projects in North American history.
                  • Assisted OGCI invest in the world’s first carbon-neutral ammonia plant to be located in Indiana; and in the development the UK’s largest carbon sequestration project, the Teesside Clean Gas Project.

                  Locke Lord LLP

                  Locke Lord LLP represents energy clients across the Americas, Africa, Europe, the Middle East and Asia, at each stage in the value chain. The firm’s key experience includes exploration and production, processing, storage and pipeline transmission, refining, conventional and renewable power generation, and energy commodity trading. A key name in the practice is Bill Swanstrom in Houston, who advises energy companies on acquisitions, divestitures, project development and finance activities. Swanstrom co-leads the practice with Terry Radney, also in Houston, who handles oil, gas and energy, infrastructure project development and real estate law.

                  Practice head(s):

                  Bill Swanstrom; Terry Radney

                  Testimonials

                  ‘The practice is extremely responsive to requests and has a deep knowledge of the energy industry, especially midstream transactions. They often spot issues that others would not and are able to work with business folks to come up with creative solutions.

                  Key clients

                  Comstock Resources, Inc.

                  Crestwood Equity Partners

                  Enterprise Products

                  Kosmos Energy

                  Martin Midstream Partners

                  NuStar Energy

                  Summit Midstream

                  Tailwater Capital

                  White Deer Energy

                  WildFire Energy

                  Work highlights

                  • Advised independent energy platform company WildFire Energy on its approximately $650m acquisition ‎of independent E&P company Hawkwood Energy.
                  • Advised independent natural gas producer Comstock Resources on its $154m purchase from Northern Oil & Gas of the latter’s assets in the Bakken shale basin.

                  Milbank

                  New York-based Daniel Bartfeld spearheads Milbank's oil-and-gas practice and is known for multi-sourced financings, as well as representing international investors on development and M&A activities in Latin America. Advising along the length of the oil-and-gas value chain in North America, the firm’s experience includes project development, financing, M&A, disputes, tax, and environmental and regulatory issues.

                  Practice head(s):

                  Daniel Bartfeld

                  Work highlights

                    Morgan, Lewis & Bockius LLP

                    Morgan, Lewis & Bockius LLP ‘offers an extremely deep bench for assistance on energy transactions. In particular, its attorneys in the midstream space are among the best in the country’. Washington DC-based Kirstin Gibbs represents pipeline operators; oil-and-gas producers, traders and marketers; utilities and end-users across a range of issues. She co-leads the practice with Felipe Alice, in Houston, who focuses on energy transactions, energy-related infrastructure projects and corporate issues.

                    Practice head(s):

                    Kirstin Gibbs; Felipe Alice

                    Testimonials

                    ‘Morgan Lewis offers an extremely deep bench for assistance on energy transactions. In particular, its attorneys in the midstream space are among the best in the country.’

                    ‘Kirstin Gibbs is an incredibly capable advisor in midstream transactions. She is brilliant, but she is also pragmatic. She takes the time to understand the objectives of her clients and she always offers valuable insights on how to approach transactions. In addition to those things, she is also extremely responsive and cost-conscious in how she personally supports and staffs transactions. She is amazing and I genuinely enjoy working with her.’

                    Key clients

                    Summit Arkansas Gas / Summit Oklahoma Gas

                    HollyFrontier

                    South Jersey Industries

                    BP

                    Chevron

                    Spire Marketing and Spire Storage West

                    Titan America

                    New Tech Global

                    MPLX/Marathon

                    Equinor Natural Gas LLC

                    Piedmont Natural Gas

                    Duke Energy Kentucky

                    Duke Energy Ohio

                    Diversified Gas and Oil

                    Shell Trading US

                    Summit Arkansas Gas and Summit Oklahoma Gas

                    HollyFrontier

                    South Jersey Industries

                    BP

                    Chevron

                    Spire Marketing and Spire Storage West

                    Titan America

                    New Tech Global

                    MPLX/Marathon

                    Equinor Natural Gas LLC

                    Piedmont Natural Gas

                    Duke Energy Kentucky

                    Duke Energy Ohio

                    Diversified Gas and Oil

                    Shell Trading US

                    Work highlights

                    • Advising South Jersey Industries regarding an investment in, and the development of, renewable natural gas (RNG) projects across the Northeast that will allow SJI’s gas utilities to decarbonize the company’s footprint in New Jersey.
                    • Advised HollyFrontier Corporation in connection with the acquisitions by HollyFrontier and Holly Energy Partners of Sinclair Oil and Sinclair Transportation, respectively, from The Sinclair Companies.
                    • Represented MPLX Delaware Basin NGL in a joint venture with WhiteWater Midstream to acquire a 30% undivided interest in a 323-mile natural-gas-liquids pipeline in Texas from EPIC Midstream for approximately $120m.

                    Skadden, Arps, Slate, Meagher & Flom LLP

                    Skadden, Arps, Slate, Meagher & Flom LLP has an experienced transactional and regulatory oil and gas practice, covering M&A, asset auctions, joint ventures, strategic alliances, corporate and project financings, and major energy-project development. Practice head Frank Bayouth  leads from the Houston office, which also houses complex energy and infrastructure transactions specialist Cody Carper.

                    Practice head(s):

                    Frank Bayouth

                    Other key lawyers:

                    Cody Carper

                    Work highlights