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.
Recent Notable Matters
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
Hellenic Republic Asset Development Fund (HRADF) —Joint sale (with Pan European Oil and Industrial Holdings SA) of 50.1 percent of the shares of Hellenic Petroleum SA, Greece's largest oil refiner with a market capitalisation in excess of €2.33 billion. The transaction is expected to be Greece's largest privatisation so far.
PetroLogistics Company LLC — formation of PetroLogistics II LLC, a joint venture between the founders of PetroLogistics, Quantum Energy Partners, Stonecourt Capital LP, and others with initial capital commitments in excess of $500 million for the development of petrochemical facilities
Sumitomo Mitsui Banking Corporation — project financing of a multi-million dollar methanol facility being purchased overseas, disassembled and rebuilt in the U.S. on the site of the offtaker
Borrower — $200 million revolving credit facility for a privately-held lubricant base oil production company joint venture between two major energy companies
Holly Energy Partners, L.P. — $278 million acquisition from HollyFrontier Corporation of newly constructed crude, fluid catalytic cracking and polymerization units at HFC's Woods Cross refinery
Independent oil and natural gas exploration and production company — negotiation of a propylene sales agreement
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
VTTI Energy Partners GP, LLC — acquisition of a 6.6 percent interest for $75 million and an 8.4 percent interest for $96 million in the operating company owning petroleum product terminals in the Netherlands, Belgium, Malaysia, the UAE and the U.S.
Yuhuang Chemical, Inc. — project development and financing of a $1.85 billion greenfield methanol project in Louisiana
Refinery owner and operator — tolling agreement to process Doba Crude for an international oil company
Chevron Corporation — sale of Unocal's crude oil and refined products terminal located near Beaumont, Texas, to Phillips 66, an energy manufacturing and logistics company
Phillips 66 — exchange of Phillips Specialty Products Inc. to Berkshire Hathaway Inc. for shares of Phillips 66 stock held by Berkshire Hathaway affiliates, valued at approximately $1.4 billion
M&G Finanziaria S.r.l. — representation of the developer in the permitting and development of major new chemical manufacturing facilities
Major petrochemical company — arrangements for the delivery of ethane to manufacturing facilities
Company — obtained an indemnification for multimillion dollar environmental claims arising out of the acquisition of a major manufacturer of chemicals
Sinclair Oil Corporation — litigation challenging the EPA's denial of a regulatory exemption for two of Sinclair's petroleum refineries