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Tax

Tax

Bracewell’s tax attorneys serve as counsel on public and private company mergers, acquisitions and dispositions, private equity investments, joint ventures, capital markets transactions and bankruptcies. We advise clients on federal, state and international tax issues related to structuring and documenting business transactions. In cooperation with our transactional counterparts, we provide comprehensive legal advice, with an eye toward optimizing business transactions and maximizing our clients’ after-tax returns. We are familiar with the tax considerations relevant to c-corporations, s-corporations, partnerships, MLPs, REITs, trusts, and sovereign entities.  

Market commentators in Chambers Global 2015 noted that our experience make us a “popular choice in the energy industry,” as we regularly handle tax issues arising in transactions in all aspects of the energy sector, including upstream and midstream oil and gas, oil field services, power generation and transmission, and renewables.

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Experience

Recent Notable Matters

Alinda Capital Partners, LLC and GE Energy Financial Services, Inc. — definitive agreement to sell SourceGas Holdings LLC to Black Hills Corp. for $1.89 billion

Optim Energy, LLC — Chapter 11 proceedings, including the $126 million sale in a bankruptcy auction of the 305 MW coal-fired Twin Oaks Plant to a unit of Blackstone Group LP and the confirmation of a plan of reorganization for its other operational power plants

Alinda Capital Partners — acquisition of a 50 percent interest in the entity that owns the general partner of Martin Midstream Partners L.P.

Apache Corporation — $1.4 billion sale of approximately 90,000 net acres in southern Louisiana and 115,000 net acres in the Anadarko Basin to Tapstone Energy

Bluescape Resources Company — investment by Energy Strategic Advisory Services LLC (ESAS), a subsidiary of Bluescape, in EXCO Resources, Inc.

Canada Pension Plan Investment Board — $450 million commitment by its wholly-owned subsidiary, CPPIB Credit Investments, to LongPoint Minerals, LLC, an entity formed to buy minerals and royalties in the U.S. 

Chesapeake Energy Corporation — initial public offering of Chesapeake Granite Wash Trust

Chevron Corporation — sale to ONEOK Partners, L.P. of the Mesquite Pipeline and its 80 percent interest in the West Texas LPG Pipeline Limited Partnership for approximately $800 million

Constellation Energy Group — acquisition of StarTex Power, an electric retail provider serving 170,000 residential and commercial customers in Texas

Energy & Exploration Partners, Inc. — Chapter 11 bankruptcy cases jointly administered with its subsidiary debtors

Great Plains Energy Inc. — $12.2 billion acquisition of Westar Energy, the largest deal in the U.S. electricity distribution market in 2016

Howard Midstream Energy Partners, LLC — purchase of northeast Pennsylvania gathering assets from Southwestern Energy Company for $500 million

HPS Investment Partners LLC — $350 million recapitalization of Alta Mesa Holdings, Inc. through a combination of convertible preferred stock and senior notes

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

Phillips 66 Partners LP — 50/50 joint venture with Plains All American Pipeline L.P. to own and operate the STACK Pipeline LLC

Pioneer Natural Resources Company — acquisition of 28,000 acres in the Midland Basin from Devon Energy Corporation for $435 million

Rockland Capital, LLC — acquisition of 100 percent of the equity interests in Michigan Power LP, LLC, which owns a 125 megawatt natural gas-fired combined cycle cogeneration facility located in Ludington, Michigan, from affiliates of ArcLight Capital Partners, LLC

Tenaska Inc. — development, project financing, offtake and purchase agreements with Brownsville Public Utilities Board for construction of a 800 MW natural gas-fueled combined cycle electric generation station in Brownsville, Texas

Venoco, Inc. — creditor negotiations and Chapter 11 reorganization, which resulted in the elimination of almost $1 billion in debt. The bankruptcy proceeding was completed in four months and with the agreement of all creditor groups.

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Awards

News

Knowledge Center

Events

Past Events

ABA Section of Taxation 2015 May Meeting

Washington, D.C.
May 8, 2015

81st Annual API Federal Tax Forum

Houston
April 27, 2015
April 28, 2015

3rd Midstream Oil & Gas Law Conference

Houston
December 4, 2014
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