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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 law lecturer at the University of Washington School of Law, teaching 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

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

"Chapter 29: Taxation of Partnership Operations; Transfer of Interest in Partnership Operating," Washington Partnership and Limited Liability Company Deskbook, 3rd ed., 2017.

"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.

Credentials

Education

New York University School of Law,
LL.M., Taxation
1980
Georgetown University Law Center,
J.D.
1977
Kansas State University,
B.S.
1973
magna cum laude

Bar Admissions

Washington
Texas
Kansas
Oklahoma

Affiliations

Washington State Bar Association
State Bar of Texas
Washington State Bar Association
Chair - Committee on Transactional Tax, Section on Taxation
2006 - 2009

News

News

The Best Lawyers in America Recognize 74 Bracewell Attorneys

August 15, 2016
Best Lawyers, Woodward White, Inc.

Unconventional Convertible Debt

December 15, 2014
Oil & Gas Financial Journal

Weil, Bracewell Advise on Kinder Morgan Deal: Business of Law

August 12, 2014
Bloomberg Businessweek - Online

Tax issues can unexpectedly complicate mezzanine financings

April 12, 2014
Oil & Gas Financial Journal - Online

Deal of the Week: Lots of Energy

May 3, 2013
Texas Lawyer - Houston Bureau

Best Lawyers in America Recognizes Eighty-Eight Bracewell Attorneys

August 23, 2012
Best Lawyers, Woodward White, Inc.

LAW: Texas firm plants roots in Pacific NW

August 30, 2010
Albany Business Review Online

Bracewell & Giuliani expands to West Coast

July 14, 2010
Houston Business Journal Online

Noteworthy

Noteworthy

The Legal 500 United States
US Taxes: Non-Contentious, 2017; Domestic Tax: Central, 2014 - 2015; Tax, 2012 - 2013
Thomson Reuters
Washington Super Lawyers
2008 - 2014; 2016 - 2017
Woodward/White, Inc.
Best Lawyers
Tax Law, 2007 - 2012, 2014 - 2018
Internet Brands, Inc.
Martindale-Hubbell® AV® Preeminent™ Rating

Events

Past Events

Bracewell Tax Network - September 12

Houston
September 12, 2013

Tax Symposium

Houston
September 20, 2012