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Oil & Gas Projects

Oil & Gas

We Know Energy®. Over the last 30 years, we have designed Bracewell to be an oil and gas projects law firm. We handle a wide variety of large and small clients involved in the oil and gas value chain, including upstream exploration and development companies; oilfield service businesses; pipeline, storage and terminals companies; refining and chemicals companies; commercial banks, trading houses, investors and private equity investors involved in oil and gas; and investment banks, other intermediaries and strategic advisors to oil and gas companies and investors. Bracewell has developed targeted practices, such as regulatory, environment, tax, intellectual property, and strategic communications, to serve the oil and gas industry. Our industry focus enables us to maintain cutting-edge experience and in-depth knowledge of the commercial, legal and regulatory challenges faced by our clients, so that we can provide the most effective legal solutions to facilitate transactions and resolve disputes.

One client in Chambers Global (2020) noted that: “One differentiator for them as a firm is they have experts in both UK and US energy markets. As a business we have some transactions we have started to do in recent years that are hybrids of the norm, and what Bracewell is able to do that no other equivalent firm is able to do is to bring equivalent expertise from both markets, which leads to a very seamless service.”

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Representing clients in the upstream oil and gas industry in jurisdictions across the globe is at the core of what we do.  Our integrated team, which is one of the largest in the world, covers every aspect of the upstream sector, including transactions; financings; project development and commercial arrangements; environmental and other regulatory permitting, compliance, enforcement and defense; governmental relations; and disputes.  Our clients include independent upstream businesses, major integrated oil companies, private investment funds and financial institutions. 

The oil and gas midstream business is a primary focus at Bracewell. In 2018 alone, our lawyers represented clients in 10 of the 16 announced long-haul Permian to Gulf Coast pipelines. We are unique in our depth and breadth of experience in all aspects of the midstream sector. As a result, we are able to efficiently provide comprehensive legal advice to midstream businesses and investors. Our large midstream team includes practitioners with experience in the US and across the globe in the development, regulation, ownership, operation, acquisition and disposition of gas and liquids pipelines, gathering systems, storage and processing facilities, terminals, and LNG facilities. We cover the complete midstream life-cycle, from project development, permitting, financing and construction through operations, sales and purchases of midstream assets and companies, and ultimately through the abandonment and satisfaction of the related regulatory requirements. Our experience includes environmental permitting, compliance and incident management and defense; precedent agreements and other storage, processing, gathering and throughput agreements; tariffs and ongoing regulatory compliance; antitrust analysis and compliance; and government relations to influence policy and facilitate regulatory approvals. In addition, in the US, we routinely support clients before Congress, FERC, PHMSA, EPA, OSHA and other federal and state regulatory agencies.

Private equity investing, including both debt and equity, is a core component of our transactions business. Our private equity experience has a particular focus in oil and gas, power and infrastructure investments, but also includes a wide variety of other industries. We handle all types of transactions on behalf of private equity clients, including fund development, joint ventures, distressed investments and exit transactions. Our team includes lawyers with significant experience advising private equity clients on fund formation, tax, and regulatory matters.

Bracewell is among the leading law firms in standardized and structured transactions involving physical and financial power, oil, gas and other commodities.  We bring a unique perspective with several lawyers on our team who have had in-house experience working for commodity trading businesses as well as experience with federal energy commodity regulators.  Our lawyers are intimately familiar with agreements promulgated by the International Swaps and Derivatives Association and the North American Energy Standards Board and have significant experience with structured commodity transactions, acquisitions and divestitures involving trading portfolios and compliance with related regulations.

Bracewell has experience in all aspects of downstream oil and gas operations, including refining, manufacturing, marketing, and distribution businesses.  We act for some of the largest refining and petrochemical companies in the world, as well as financial institutions and other lenders to the industry. Our lawyers represent clients in connection acquisitions and disposals, project and portfolio financing, operational arrangements (including feedstock and offtake contracts), environmental and compliance issues, permitting and other regulatory matters, intellectual property issues, and defending and prosecuting litigation.

Our deep understanding of the upstream and midstream sector has made us the go-to firm for various water management stakeholders involved in unconventional shale plays. Our engagements to date include representing upstream producers and newly formed water management companies in the drafting and negotiation of gathering, disposal, connection, transportation and recycling agreements; the acquisition and disposition of water producing and disposal assets; and the drafting and negotiation of freshwater supply, recycling and redelivery agreements. We also engage in legislative and administrative advocacy as it relates to this burgeoning industry, both at the federal and state level.

Experience

Recent Notable Matters

TC Energy Corporation US counsel in connection with the Government of Alberta’s $1.1 billion equity investment and $4.2 billion loan guarantee to support construction of the Keystone XL crude oil pipeline

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 (2020)

Anadarko Moçambique Area 1, Limitada multiple aspects of the multi-train $15 billion+ Mozambique LNG export project, including on the complex unitization of straddling reservoirs and the development of common facilities

TC Energy Corporation — approximately $1.275 billion sale of US midstream assets held by its subsidiary, Columbia Midstream Group, to a subsidiary of UGI Corporation

Holly Energy Partners, L.P. formation of a 50/50 joint venture, Cushing Connect Pipeline & Terminal LLC, with Plains All American Pipeline, L.P. for the purpose of owning and operating a crude oil terminal in Cushing, Oklahoma and constructing, owning and operating a crude oil pipeline from Cushing, Oklahoma to Tulsa, Oklahoma

Kinder Morgan, Inc. and Kinder Morgan Canada Limited — counsel to KMI in its $1.546 billion sale of the US portion of the Cochin Pipeline to Pembina Pipeline Corporation and US counsel to KML in concurrent sale of all outstanding KML common equity to Pembina

Sabalo Energy, LLC  divestiture of produced water gathering and recycling infrastructure assets in the Midland Basin to H2O Midstream LLC, including negotiation of long-term produced water gathering, disposal and recycling agreements

COG Operating LLC  contribution of 13 salt water disposal wells and approximately 40 miles of large-diameter produced water gathering pipelines to Solaris Water Midstream, LLC in exchange for cash and equity in Solaris Midstream Holdings, LLC

SPE Guinea Bissau AB (a wholly owned subsidiary of Svenska Petroleum Exploration AB)  agreement to sell participating interests in the Sinapa and Esperança oil and gas licences, offshore Guinea Bissau, to CNOOC

Etablissements Maurel & Prom S.A.  acquisition of producing interests in Angola from Mitsubishi Corporation

Apache Corporation  $612 million asset sales in the Western Anadarko Basin and the SCOOP/STACK play

Apache Corporation  sale of multiple UK North Sea upstream oil and gas assets to Chrysaor Limited

Global Infrastructure Partners  contribution of $200+ million Bakken water gathering and disposal system to Hess Infrastructure Partners, a joint venture between Global Infrastructure Partners and Hess Corporation

Ophir Energy Plc  sale of its interest in Block 5 in the Salina Basin offshore Mexico, which includes the Cholula discovery, to Murphy Oil Corporation, Petronas and Wintershall-DEA

Eni Petroleum US LLC  acquisition of 70 percent and operatorship of the Oooguruk oil field in Alaska from Caelus Natural Resources Alaska, LLC

Eni S.p.A.  sale to Qatar Petroleum of a 35 percent interest in the Area 1 development in Mexico, which holds an estimated 2.1 billion barrels of oil

Genel Energy plc  acquisition of interests in the Chevron-operated Sarta and Qara Dagh blocks in the Kurdistan region of Iraq

Halcón Resources Corporation  $325 million divestiture of all water infrastructure assets across the Delaware Basin to a subsidiary of WaterBridge Resources LLC

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

Pioneer Natural Resources Company  divestiture of its pressure pumping assets to ProPetro Holding Corp. in exchange for total cash and stock consideration of $400 million and entry into a 10 year pressure pumping and related services agreement with ProPetro

Apache Corporation — creation of $3.5 billion midstream company with Kayne Anderson Acquisition Corp., forming the only publicly traded, pure-play Permian Basin midstream company that is a C-corporation

Alinda Capital Partners  sale of NorTex Midstream Partners, LLC, a company owned by funds managed by Alinda that own Texas gas storage facilities, to a subsidiary of Castleton Commodities International LLC

Eni S.p.A. — $934 million sale of a participating interest in the Egyptian Shorouk Concession, containing the Zohr gas field, to Mubadala Petroleum

HPS Investment Partners, LLC and Kingfisher Midstream, LLC  merger agreement between Kingfisher, Silver Run Acquisition Corporation II and Alta Mesa Holdings, LP to combine and form Alta Mesa Resources, Inc.

Kinder Morgan, Inc. — investment between Kinder Morgan Texas Pipeline LLC, DCP Midstream, LP and an affiliate of Targa Resources for the $1.7 billion Gulf Coast Express Pipeline Project, designed to transport up to 1.92 billion cubic feet per day of natural gas

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LNG in Europe 2020: Current Trends, The European LNG Landscape and Country Focus

October 8, 2020

This article provides an overview of current trends in the European LNG market, describes the status of the pan-European LNG landscape, and looks at recent activities in individual European LNG-importing countries.

LNG Developments Post-COVID-19

June 16, 2020
Bracewell Legal Bites

Nigerian Marginal Fields: New Bid Round and New Guidelines

June 2, 2020
Energy Legal Blog®

Nigeria’s Department of Petroleum Resources (“DPR”) announced on 1 June 2020 the launch of a new marginal field bid round. Fifty-seven marginal fields have been made available, being a mix of onshore, swamp and shallow-offshore fields. The DPR also released new...

LNG lockdown lessons: what next for the LNG industry post-COVID?

May 21, 2020
Energy Legal Blog®

The LNG industry was already dealing with more than its fair share of challenges when it was thrown further off course by the “double whammy” of reduced energy demand due to the steep decline...

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