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About Shannon
Shannon McKay represents private equity sponsors, investors and financial institutions in complex business transactions involving the upstream, midstream and downstream sectors. She assists clients in the purchase and sale of oil and gas assets, as well as the financing of exploration and producing properties, production and storage facilities and pipeline systems.
Experience
Recent Notable Matters
Subsidiary of a publicly-traded midstream company — negotiation of an anchor shipper arrangement with a large publicly traded exploration and production operator for the buildout of a gathering system in the Utica Shale
Phillips 66 — agreement to sell the Belle Chasse Terminal, formerly the Alliance Refinery, to Harvest Midstream
Arroyo Energy Investment Partners LLC — sale of two US electric power generation investments, Brandywine and Broad River. The sale includes more than 1,100 MW of power generation.
Invenergy and energyRe — as project sponsors, in forming a consortium of investors that secured one of six leases in the New York Bight offshore wind auction
Equinor — negotiation of purchase and sales agreements and conditional grant agreements with the New York State Energy Research and Development Authority (NYSERDA) in support of the 1,260 MW Empire Wind 2 and the 1,230 MW Beacon Wind projects
Equinor — $1.1 billion sale of a 50 percent interest in two US offshore wind development projects to BP, including formation of a partnership to develop and operate the Empire Wind project offshore New York and Beacon Wind project offshore Massachusetts, which together could generate up to 4.4 GW
Wells Fargo Bank, N.A. — as administrative agent for the first lien lender group in the Alta Mesa Chapter 11 bankruptcy case
Phillips 66 — formation of Bluewater Texas Terminal LLC, a joint venture with Trafigura Group Pte. Ltd., to develop an offshore deepwater port project in the Port of Corpus Christi
Apache Corporation — $612 million asset sales in the Western Anadarko Basin and the SCOOP/STACK play
Texas Microgrid, LLC — first-of-its-kind project financing for the construction and operation of a portfolio of distributed microgrids consisting of ultra-clean natural gas-fired generators within ERCOT service territory with up to 232 MW of generating capacity
Par Pacific Holdings, Inc. — acquisition of 100 percent of the equity interests in U.S. Oil & Refining Co. and certain affiliated entities for $358 million, including a 42,000 bpd refinery, a marine terminal and associated logistical system in Tacoma, Washington
AP Energy Holdings Inc and South Field Energy LLC — $1.3 billion project financing and equity arrangements for the construction of the South Field Energy project, a 1,182 MW combined-cycle natural gas electric generating facility located near Wellsville, Ohio
Phillips 66 — option agreement pursuant to which DCP Midstream LP acquired an option to purchase up to a 30 percent ownership interest in Phillip 66’s new fractionators under construction at its expanded Sweeny Hub
Phillips 66 Partners LP — joint venture construction and operating agreements with Andeavor and an equity option with Canadian midstream company Enbridge Inc. in relation to the Gray Oak Pipeline, LLC joint venture, and in a joint venture with Buckeye Partners LP to develop the new South Texas Gateway Terminal at the mouth of Corpus Christi Bay
GEP Haynesville, LLC — exchange of non-operating working interests located in the Haynesville Basin with Vine Oil & Gas LP
Independent oil and natural gas exploration and production company — sale of substantially all of its Gulf of Mexico assets to Fieldwood Energy LLC for over $700 million
Three Rivers Operating Company III LLC — sale of 59,000 net acres in the Delaware Basin for an undisclosed cash consideration to Admiral Permian Resources, LLC
Noble Energy, Inc. — sale of 30,200 net acres in the DJ Basin in Weld County, Colorado to SRC Energy Inc. for $608 million