Cross-Border Canadian Bankruptcy Exit Financing Lending and Hedge Providing
Represented large financial institution as a lender and hedge provider under a $130 million cross-border, bankruptcy exit financing credit facility for a Canadian borrower, secured by properties in Alberta and other areas of Canada.
Oil and Gas Physical and Financial Transaction
Represented Asset Risk Management, an oil and gas marketer, in connection with its sale of physical gas and purchase of financial hedges.
Represented Trans Energy, Inc. in the re-purchase of warrants issued to Chambers Energy Partners.
Revolving Credit Facility
Represented Deutsche Bank AG as lender in connection with a $140 million senior secured revolving loan with borrower Great Western Petroleum, LLC. The four-year term credit facility is secured by the borrower's and its subsidiaries' oil and gas properties and assets in Colorado.
$75 Million Development Loan
Represented the mezzanine capital provider in the negotiation of a senior secured credit facility to finance the development of Permian Basin oil and gas properties. The facility involved an advancing line of credit secured by all of the borrower’s assets, including the oil and gas properties. The lenders under the debt facility additionally received a net profits interest in the oil and gas properties.
Debt and Equity Facility in Upstream and Midstream Oil and Gas Company
Represented the capital provider in the negotiation of a senior secured credit facility and equity investment to finance the acquisition and development of oil and gas properties and related midstream facilities located in the mid-continent region. The credit facility involved an advancing line of credit secured by all of the borrower’s assets, including the oil and gas properties and midstream assets. The lenders under the debt facility additionally received a net profits interest in the oil and gas properties and in the cash flow from the midstream system.
Revolving Credit Facility
Represented Deutsche Bank AG as lender in connection with a $130 million senior secured credit facility with co-borrowers Jay-Bee Production Company and JB Exploration I, LLC. The credit facility featured borrowing base and over advance loans and was secured by the borrowers’ oil and gas properties and assets in West Virginia.
Represented a large financial institution as administrative agent and lender in $200 million senior secured credit facility with an independent E&P company. The loan proceeds will be used to refinance existing swap facilities and finance the purchase of oil and gas properties in Divide County, North Dakota.
Represented a large financial institution as administrative agent and lender in a senior secured credit facility with an E&P and gas gathering company. The credit facility features a revolver commitment of $180 million, with a development loan commitment of $20 million. The loan is secured by borrower's properties in Kentucky and Tennessee.
Represented a large financial institution as a lender in a $200 million revolver loan with a letter of credit feature. The loan proceeds will be used to develop the borrower's and subsidiary's oil and gas properties in Texas and Louisiana.
$500 Million Senior Secured Credit Facility
Represented E&P company as borrower under $500 million credit facility entered into in connection with the company's refinancing of existing indebtedness and acquisition of oil and gas properties.
Guggenheim Partners - Secured Term Loan
Represented agent and lender in a secured term loan to an oil recycling refinery, with operations across Louisiana, Indiana, Nevada and California, secured by liens upon the various refining and storage operations. The lenders additionally received an equity kicker in the form of warrants in the borrower. Further represented the lenders in the negotiation of multiple intercreditor agreements and subordination agreements among the various other creditors of the borrower.
$60 Million Senior Secured Credit Facility
Represented administrative agent and lender in a $60 million senior secured credit facility and equity kicker agreement with a borrower in the oil and gas waste disposal business.
$250 Million Secured Credit Facility
Represented offshore E&P company as borrower in a $250 million credit facility secured by the borrower's offshore Gulf of Mexico properties. In connection with the credit facility, represented the borrower in the negotiation of multiple intercreditor agreements with the second lien creditors and the hedge providers.
$250 Million Senior Secured Credit Facility
Represented E&P company as borrower under a $250 million credit facility entered into in connection with the company's refinancing of existing indebtedness and recapitalization.
Panda Power Funds/Temple Gas-Fired Power Plant
Represented Panda Power Funds in the secured financing of the development of a natural gas-fired power plant in Temple, Texas.
$50 Million Senior Secured Second Lien Term Loan Facility
Represented Wells Fargo Energy Capital, Inc., as the administrative agent and sole lender, in a $50 million senior secured second lien term loan to LRR Energy, L.P. The loan was secured by LRR Energy, L.P.'s oil and gas properties located in the Permian Basin as well as Oklahoma and the Texas Gulf Coast.
Restructuring of Debt and Equity Structure for Offshore Oil and Gas Exploration Company
Represented Pisces Energy LLC and its parent company, Pisces Energy Holding, LLC in the partial prepayment and amendment and restatement of its second lien loan agreement, and the exchange by one of its investors of all of its second lien debt in Pisces Energy LLC in exchange for preferred equity in the parent company.
$56 Million Syndicated Credit Facility for Cadre Proppants, a Frac-Sand Proppant Company
Represented a frac-sand company in a $56 million syndicated credit facility with multiple tranches of debt.
$150 Million Development Loan - Marcellus Shale
Represented Wells Fargo Energy Capital, Inc. in a secured $150 million development financing involving shale oil and gas assets in Pennsylvania. Facility was secured by the oil and gas properties and the lenders additionally received a net profits interest from the production.
Amegy Bank, N.A. and National Bank of Arizona - Solar Energy Project Financing
Represented the agent and lender in a complex financing of a solar energy company which will lease solar equipment to thousands of homeowners. The financing was secured by various federal and state solar energy grants and incentives and the leased solar equipment.
Guggenheim Partners - $50 Million Debt Purchase and Refinancing
Represented credit provider in connection with a $50 million distressed debt purchase and subsequent refinancing of a green energy oil recycling refinery in San Francisco, California.
$100 Million Senior Secured Credit Facility and $60 Million Equity Investment - Eagle Ford Shale
Represented the administrative agent and investor in joint debt and equity facilities to finance the acquisition and development of oil and gas properties located in the Eagle Ford Shale Play. The debt facility involved a $100 million advancing line credit facility secured by all of the borrower’s assets, including the oil and gas properties. The lenders under the debt facility additionally received a convertible royalty interest, consisting of an overriding royalty interest that converts into a net profits interest, in the oil and gas properties. The equity facility involved the formation of a limited partnership to own and operate the properties and an initial capital investment of $30 million.
Negotiation of ISDA Annex for Gas Purchases
Represented an independent power producer in the negotiation of an ISDA with an ISDA North American Gas Annex for gas purchases.
Negotiation of ISDA Annex for Crude Oil Purchases
Negotiated an ISDA with an ISDA North American Crude Oil Annex for crude oil purchases by a chemical company from an international bank.
Prepaid Swap Facility
Represented DB Energy Trading LLC in a $42.5 million prepaid swap facility, with multiple tranches of debt and ability to increase and reset the swap amount upon meeting certain conditions with Great Western Oil and Gas Company, LLC.
Prepaid Swap Facility
Represented DB Energy Trading LLC an affiliate of Deutsche Bank, AG and J&S 2008 Program, L.L.C. in a prepaid swap facility for $10.5 million.
Representation - Contracts Related to Bituminous Coal Ash Reprocessing
Represented a large, coal-fired power plant project with contracts relating to the re-processing of bituminous coal ash.
Representation of Australian Company - Acquisition of Finance Services Company
Represented an Australian publicly traded company with the acquisition of the premier provider of special purpose entity and structured finance services, which required collaboration with accountants concerning generally accepted accounting principals (GAAP) and international accounting standards (IAS) relating to the non-consolidation rules, including FASB Interpretation No. 46, Consolidation of Variable Interest Entities (FASB 46), and the IAS 27, Consolidated Financial Statements and Accounting for Investments in Subsidiaries, for special purpose entities holding billions of dollars of assets.
Representation of Hedge Fund - Investment in Gas Compressor Company
Represented a hedge fund with the investment in a gas compressor company consisting of warrants, subordinated debt, term loans and revolving loans, which refinanced numerous lease financing vehicles for gas compression equipment.
Representation of Hedge Fund - Investment in Seismic Gathering Company
Represented a hedge fund with the investment in a seismic gathering company consisting of term loans and warrants, acting as a bridge financing until the initial public offering of the company.
Representation of Hong Kong Company with Acquisition
Represented a Hong Kong company with the acquisition from a Japanese venture capital fund of debt and warrants in a U.S. company holding Chinese oil and gas concession rights, and subsequent restructuring of the investment.
Representation of Investor - Alternative Energy Project
Represented an investor in an alternative energy project that will use renewable biogas energy sources to sell natural gas and carbon credits.
Representation of Natural Gas Power Plant - Outage and Refurbishment of Turbine and Transformers
Represented a large, natural gas power plant project with the outage and refurbishment of its turbine and transformers, which involved the extensive negotiation of engineering, procurement and construction (EPC) agreements and master service agreements (MSAs).
Negotiation of Electricity Purchase Contract
Represented a large real estate management company in negotiating an electricity purchase contract from a retail electricity provider (REP), lowering the cost of power for its properties by less than half.
Advised a wholesale electric provider with the negotiation of agreements with a retail electricity provider to provide financing, price hedges and for physical sales of electricity and natural gas.
Hedge Fund Representation - Purchase of Mineral Interests
Represented a hedge fund in a combined loan and purchase of mineral interests to fund an oil and gas development program.
Sale and Purchase of Natural Gas
Represented an independent power producer in the negotiation of a NAESB base contract for sale and purchase of natural gas with an energy trading affiliate of an international bank.
Sale of Physical Power
Represented a wholesale power marketer with an ISDA Master Agreement with the ISDA Power Annex for the sale of physical power, with amendments for the Nodal changes for the ERCOT market.
Securitization of Receivables - Large Chemical Company
Represented a large chemical company with the securitization of its receivables financed by a commercial paper conduit.
Securitization of Receivables from Contract with Mexican Government
Represented a large oil and gas service company with the securitization of its receivables from a large contract with a unit of the Mexican government, including rendering a true sale opinion under New York law and assisting with a true sale opinion rendered by Mexican counsel.
Structured Financing - Coal Mine
Represented the buyer of a coal mine in Pennsylvania with the structured financing of the purchase price which included physical and financial hedges of coal.
Structured Forward Sale of Crude and Natural Gas Production
Represented an oil and gas company with a structured forward sale of production "prepaid" hedging transaction secured by oil and gas assets located in Long Beach, California, using ISDA documents for the hedges and traditional oil and gas financing documents for collateral support.
Structured Forward Sale of Production
Represented an oil and gas company with a structured forward sale of production under a "prepaid" hedging transaction secured by oil and gas assets located in California, Texas and Kansas, using ISDA documents for the hedges and traditional oil and gas financing documents for collateral support.
Term and Revolving Loan - Oil and Gas Exploration and Production Company
Represented a large commercial bank with a term and revolving loan to an oil and gas exploration and production company secured by oil and gas reserves.
Gas Storage Asset Management Agreement
Represented a gas trading firm with an asset management agreement with a gas midstream company for managing and trading gas storage.
Cross-Collateralized Credit and Hedge Facility
Represented an oil and gas company in a cross-collateralized credit and hedge facility with hedge providers and banks, secured by oil and gas properties in Texas.
Acquisition - Refining and Waste Processing Facility
Represented venture capital investors with the acquisition and restructuring of the equity and debt of a refining and waste processing facility used to extract metals from heavy oil waste from refineries.
Prepaid Swap Facility
Represented DB Energy Trading LLC, an affiliate of Deutsche Bank, in a $20 million prepaid swap facility between AG and GWOG Williston, LLC secured by Williston Basin, North Dakota oil and gas assets.