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As an energy-industry leader, Bracewell’s finance lawyers represent domestic and international lending institutions as well as public and private oil and gas companies in the full range of reserve-based financings.   Regardless of context, we advise our clients throughout the lifecycle of the loan, always with an eye toward meeting their broader goals.

Experience

Recent Notable Matters

Citibank, N.A. — $1 billion secured, reserve based revolving credit facility to a privately held oil and gas exploration and production company, as administrative agent

Bank of Nova Scotia — $175 million reserve-based lending facility provided by The Bank of Nova Scotia, HSBC Bank USA, National Association, and Société Générale to Amerisur Resources plc, as arranger

Bank of Nova Scotia — $350 million senior secured revolving credit facility to Eagle Hydrocarbons Inc. and Eagle Energy Canada Inc., upstream US and Canadian oil and gas exploration and production companies, as administrative agent

Citibank, N.A. — $400 million senior secured revolving and term loan facilities to USD Partners LP and USD Terminals Canada ULC, hydrocarbon rail transport and terminaling companies, secured by substantially all of the borrowers’ assets, including mortgages on rail terminaling facilities in Hardisty, Alberta, Canada and Casper, Wyoming, as administrative agent

Deutsche Bank and IFC — $160 million Facility for Kuwait Energy International Limited’s assets in Egypt and the Ukraine

Etablissements Maurel & Prom SA — up to $650 million revolving credit facility arranged by BNP Paribas, Crédit Agricole Corporate and Investment Bank, Natixis and Standard Chartered Bank

Group of 25 lenders — $2.5 billion secured loan and letter of credit facility for Lundin Petroleum, based on oil and gas assets in France, Indonesia, Norway and The Netherlands; the transaction was coordinated by HSBC as documentation bank and BNP Paribas as facility agent and security trustee, along with 15 other lead arrangers

ING Bank N.V., and a syndicate of five lenders — $340 million borrowing base facility for Oranje-Nassau Energie, based on oil and gas assets in the U.K., Netherlands and Gabon

JPMorgan Chase Bank, N.A. — $500 million oil and gas reserve based loan to White Oak Resources VI, L.L.C. in connection with White Oak’s refinancing of its existing credit facility with Frost Bank and simultaneous purchase of certain oil and gas assets from Milagro Producing, LLC, as administrative agent

Petroceltic plc — $500 million financing against the group's resources in Egypt, Italy and Bulgaria and contingent resources in Algeria

Privately held exploration and production company — $750 million senior secured reserve-based revolving credit facility with Wells Fargo Bank, N.A., as administrative agent, to finance the acquisition, development and maintenance of oil and gas properties located in Texas secured by substantially all assets of the borrower and its subsidiaries, including its oil and gas properties located in Texas, as borrower

Seplat Petroleum Company Plc — $1.7 billion term and revolving facilities comprising of a reserve-based financing with Nigerian banks and a corporate facility with international banks, each secured against Nigerian oil and gas assets

Société Générale — up to $650 million borrowing base facility to Cobalt Energy provided by Société Générale, Credit Agriole and Commonwealth Bank of Australia, as a mandated lead arranger

Société Générale, Commonwealth Bank of Australia, Natixis and Crédit Agricole — $150 million reserve based lending facility to Cobalt International, sized off Cobalt’s interest in the Heidelberg field in the Gulf of Mexico. This was a first-of-a-kind financing that merged U.S. and international RBL facility concepts to achieve hybrid documentation, which was acceptable to the U.S. borrower with U.S. assets, as well as the (largely) European syndicate of banks lending out of their American offices.

Sumitomo Mitsui Banking Corporation — $100 million senior secured reserve based facility for TransGlobe Petroleum to finance the development and operation of assets in Egypt and Yemen, as manadated lead arranger and facility agent

Wells Fargo Bank, N.A. — $300 million secured revolving credit facility to a private exploration and production company with oil and gas properties in Texas, as administrative agent

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