Bracewell is nationally recognized for its deep experience in the legal issues related to Master Limited Partnerships, or MLPs. We have represented MLPs, their special committees and MLP sponsors since the creation of the modern MLP structure in the 1980s.

We represent many of the largest and most active MLPs in IPO and other capital markets offerings, drop-downs, mergers and acquisitions, and commercial contracts, as well as in tax, finance, regulatory, environmental and litigation matters. We also represent conflicts committees in drop-downs, MLP buy-ins and mergers, incentive distribution right (IDR) waivers and restructurings, preferred unit issuances and other related-party transactions, investment banking firms in fairness opinions rendered to conflicts committees of MLPs and lenders to MLPs.