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About Lance
Lance Behnke advises clients on a wide range of tax matters with a special focus on partnerships and corporations in the energy industry that are involved in complex domestic and international business transactions. His experience includes tax issues of private equity funds, their portfolio companies and management teams seeking PE financing.
He is a retired law lecturer at the University of Washington School of Law, where he taught federal tax law in the J.D. and LL.M. programs. Lance is a former head of Bracewell's tax practice and a frequent speaker at seminars and educational programs.
Experience
Recent Notable Matters
The Robert A. Welch Foundation — creation and funding of The Welch Institute, a $100 million joint venture with Rice University that will combine fundamental chemistry and materials science with the latest in machine learning and artificial intelligence to accelerate the discovery, design and manufacture of the next generation of materials with applications to new energy systems, sustainable water, space systems, telecommunications, manufacturing, transportation, security and more
Private equity firm — tax issues related to the organization, capitalization, disposition and ongoing operation of portfolio companies engaged in exploration and production activities in the Bakken Shale, Permian Basin, Utica Sale, Eagle Ford Shale, Marcellus Shale, Piceance Basin and Williston Basis
Overstock.com, Inc. — issuance of rights offering allowing its shareholders to purchase shares of its preferred stock, including Blockchain Series A Preferred shares to be issued and traded exclusively on the t0 platform, a registered alternative trading platform developed by Overstock.com’s subsidiary
Pro Trans Logistics, Inc. — Action, Inc.’s subsidiary’s acquisition of the stock of Pro Trans Logistics, Inc.
Kinder Morgan, Inc. — acquisition of all the outstanding equity securities of Kinder Morgan Energy Partners, L.P., Kinder Morgan Management, LLC, and El Paso Pipeline Partners, L.P., for a total transaction value of approximately $76 billion
Kinder Morgan, Inc. — $38 billion acquisition of El Paso Corporation, creating the third largest energy company in North America
University of Texas M.D. Anderson Cancer Center — securities matters relating to its acquisition of shares of Class B common stock of Premier, Inc. regarding the reorganization of Premier Healthcare Alliance, L.P. and the initial public offering by Premier, Inc.
Chesapeake Energy Corporation — initial public offering of Chesapeake Granite Wash Trust
Pilot Chemical Company — privately-held and independent specialty chemical manufacturer, in its acquisition of the assets and business of Liquid Minerals Group and of Mason Chemical Company
Conflicts committee of Encore Energy Partners — acquisition by Vanguard of the interests in Encore owned by the public for approximately $545 million of Vanguard common units
Constellation Energy — acquisition of StarTex Power, an electric retail provider serving 170,000 residential and commercial customers in Texas
Allison Marine Contractors, Inc. — sale of all its holdings to Lincolnshire Amc Holding, LLC
Enerplus Corporation — conversion from a Canadian income trust to a Canadian corporation
Scotia Capital Inc. — lead underwriter regarding the initial public offering of Eagle Energy Trust, a Canadian trust that owns upstream properties in the United States
BNY Mellon Trust Company — trustee in the initial public offering of trust units in each of these royal trusts
Affiliate of Royal Dutch Shell plc — sale to Buckeye Partners, L.P. of a refined petroleum products terminal located in Puerto Rico
Publications and Speeches
"The October 4, 2016 Final, Temporary and Proposed Treasury Regulations under Sections 704, 707 and 754," WSBA CLE in partnership with the WSBA Tax Section, December 15, 2016.
"Tax Issues Can Unexpectedly Complicate Mezzanine Financings," Oil & Gas Financial Journal, April 11, 2014.