De-carbonization, ESG-driven investment, vocal stakeholders and other constituencies, and the advance of environmentally friendly new technologies are accelerating the pace of change—and the range of opportunities and risks in the energy arena. Companies seeking to navigate new paths to growth in the evolving energy industry face an array of complex challenges. Paul Hastings can help.

Client Successes

Energy Transition

• Represented PBF Energy, Inc., one of the largest independent refiners in North America, in connection with the $530 million sale of five steam methane reformer (SMR) hydrogen production plants to Air Products.

• Advised EnfraGen in the $1.7B refinancing of a portfolio of power generation facilities (solar, gas-fired and hydro) across Chile, Colombia and Panama.

• Assisted The Nature Conservancy in assessing whether the decision of the First Nations peoples to consent to imposition of a conservation easement on the Great Bear Rainforest in British Columbia was influenced by the ability to create carbon emissions credits.

• Advised Georgia Transmission Corporation, an owner and operator of $2.1B in electric transmission assets, in a variety of FERC and energy regulatory and contractual matters

Traditional Energy

• Represented White Oak Global Advisors in connection with the acquisition of multiple oilfield services businesses, including Felderhoff Brothers from Superior Energy, and the related restructuring and sale thereof to Scandrill, Inc., a transaction awarded Deal of the Year by ACG Houston in 2020.

• Represented Lotte Chemical in connection with a sale of stake in an ethylene production facility in Louisiana for a purchase price of $816.5M.

• Represented White Oak Global Advisors, LLC, as agent, and Kin Acquisition LLC, as borrower, in a $79.5M term facility to finance Kin's acquisition of the assets of SPN Well Services, Inc., which is in the business of providing and servicing oil drilling rigs.

• Represented JPMorgan as joint lead arranger and administrative agent on the refinancing of Valero Energy Corp.'s revolving credit facility. The facility consisted of a $4B unsecured revolving credit facility.

Providing Sophisticated, Market-Savvy Advice to Corporate Energy and Investor Clients

We have advised a wide range of clients, helping them pursue opportunities in the energy industry, including private equity firms and their portfolio companies, public and private corporations, MLPs, investment banking firms, and sovereign wealth funds.

Innovative Solutions

Our interdisciplinary team spans practices and borders to provide creative solutions encompassing mergers and acquisitions, equity and debt capital markets, joint ventures, litigation, regulatory, tax and corporate governance matters. We also represent distressed companies in the energy sector, as well as their lenders, creditors and other investors.

We excel at helping clients obtain the most competitive pricing and flexible terms to fund diversification, new partnerships, acquisitions and other energy transition initiatives, as well as for more traditional needs such as working capital and refinancing of existing facilities. We also offer cutting-edge knowledge of market trends such as ESG in equity, bond and loan capital markets. In addition, our lawyers advise on all aspects of complex environmental matters, from land use issues and health-based risk assessments to political concerns, regulatory and enforcement issues, and litigation exposure.

Deep Experience across the Energy Industry

Our multidisciplinary team has proven experience advising clients on:

• Development, financing and the buying and selling of power generation assets of all sizes and fuel types for both private equity and strategic investors (including solar, wind and hydro)

• Battery storage and other project specific assets (hydrogen supply, steam, distributed grids and related transactions)

• Transmission transactions, interconnection and regulatory matters

• Electric vehicles

• The nascent “green hydrogen” movement, including arrangements for relevant intellectual property

• Nuclear services and natural gas-fired conversion

• Key ancillary expertise in tax, federal and state energy regulatory, environmental, and intellectual property