Representative Company Representations

• TPC Group, a North American petrochemical company, in its successful reorganization that raised $450 million of new capital and eliminated over $950 million of secured funded debt and over 11,000 contingent property damage and personal injury claims.
• Bristow Group, a leader in global vertical aviation solutions and helicopter transportation services, in its successful chapter 11 reorganization of $1.6 billion of debt, consisting of seven secured and unsecured debt issuances and credit facilities; reorganization shed over $900 million of debt, reprofiled aircraft fleet leases and aircraft secured debt facilities, and raised $535 million of fresh capital -- all without any disruption in worldwide operations.
• Public energy company in its assessment of capital markets solutions and debt optimization strategies.
• ETX Energy (f/k/a New Gulf Resources), an upstream oil and gas producer, in its successful chapter restructuring of $530 million of debt to equity with $135 million of new convertible secured PIK notes on exit.
• West Virginia oil and gas producer in its out of court restructuring and sale.
• Hercules Offshore in its pre-packaged, chapter 11 restructuring of $1.2 billion of debt to equity with $450 million of new financing on exit; 60-day court process.
• ASARCO LLC, a mining, smelting and refining company, in its reorganization and discharge of multi-billion dollars of asserted asbestos, bond and environmental claims. Plan confirmed; creditors paid in full. Performance based fee enhancement awarded to Baker Botts in what court opinions described as one of the most successful chapter 11 cases in history.
• Special Committee of the Board of Directors of Enviva Inc. in connection with investigation of related-party and select material transactions, in the United Bankruptcy Court for the Eastern District of Virginia.
• Publicly traded E&P company in connection with distressed debt exchange and capital solutions transaction.
• Global Geophysical Services, a worldwide seismic company, in its chapter 11 reorganization in the United States and Columbian cross-border insolvency proceeding.
• Pacific Lumber, a California timber harvesting and milling company, in its chapter 11 reorganization in the United States Bankruptcy Court for the Southern District of Texas.
• Crescent Machinery, a heavy equipment rental and sales rollup with 14 branch locations in six different states, in its chapter 11 reorganization in the United States Bankruptcy Court for the Northern District of Texas (previous firm experience).
• Private midstream company in the Bakken in connection with out-of-court financial restructuring.
• Public MLP energy transport company in connection with out-of-court workout (following chapter 11 filing of its ultimate parent and largest customer).

Representative Distressed Acquisitions

• Diversified Energy in its acquisition of EdgeMarc Energy’s Appalachian basin assets in a competitive section 363 sale process in the United States Bankruptcy Court for the Southern District of Texas.
• Buyer in its acquisition of Utah and Colorado oil and gas upstream, midstream and processing assets in a competitive section 363 sale process in the United States Bankruptcy Court for the Southern District of Texas.
• Anchor member of consortium in bid to acquire assets of Seadrill (second filing) in the United States Bankruptcy Court for the Southern District of Texas.
• Bidder for upstream oil and gas assets in Colorado in United States Bankruptcy Court for the District of Delaware.
• Buyer in its acquisition of retail liquor chain in the in the United States Bankruptcy Court for the Northern District of Texas.
• Buyer of consumer electronics chain in a competitive 363 sale process the in the United States Bankruptcy Court for the Northern District of Texas.
• Buyer of Crusader Energy, an upstream oil and gas producer, through a plan of reorganization and reorganized stock purchase agreement.
• Joint venture party in connection with JV's acquisition of harsh weather Seadrill new build rig for $500 million; transaction approved in Seadrill Limited’s (first filing) bankruptcy.
• Bidder for Rockdale upstream E&P assets in the Marcellus shale.
• Non-U.S. private equity fund in acquisition of distressed Eagle Ford shale assets and negotiation of transaction support agreement with first lien lenders, second lien lenders and sponsor to implement debt forbearance to effectuate transaction and achieve objectives out of court.
• Buyer of Enre's oil and gas assets, confirming creditor chapter 11 plan in litigious competing chapter 11 plan process (previous firm experience).
• Stalking horse purchaser, a large international company based in Japan with operations in 40 countries, in proposed sale of Kodak's document imaging business, a carve-out transaction involving 1,100 employees and assets and operations in the U.S., UK, and 26 other countries, in the United States Bankruptcy Court for the Southern District of New York.

Representative Committee and Creditor Representations

• Official Committee of Unsecured Creditors of Southland Royalty, increasing cash recoveries to general unsecured creditors, in the United States Bankruptcy Court for the District of Delaware.
• Creditor and member of Creditors Committee, a midstream company, in opposing rejection of midstream contracts as covenants running with the land, in the chapter 11 cases of Extraction Oil & Gas in the United States Bankruptcy Court for the District of Delaware.
• Non-U.S. company in termination of agreements with Vice Media and negotiation of resolution of claims with Vice Media and its secured lenders.
• Major E&P company, in opposing Fieldwood Energy's abandonment of certain of its own offshore Gulf of Mexico P&A and decommissioning obligations, in the United States Bankruptcy Court for the Southern District of Texas.
• Creditor and co-chair of Creditors’ Committee of Seadrill Partners in the United States Bankruptcy Court for the Southern District of Texas.
• Subsidiary of Marathon Petroleum, in negotiation of settlement to protect rights under farmout, operating and marketing agreements for oil and gas properties in Utah, in EP Energy chapter 11 case in the United States Bankruptcy Court for the Southern District of Texas.
• Midstream company in the protection of its dedication of Rex Energy's oil and gas interests to client's gathering infrastructure as covenants running with the land in the United States Bankruptcy Court for the Western District of Pennsylvania.
• Official Committee of Unsecured Creditors to media company in the United States Bankruptcy Court for the Northern District of Texas (previous firm experience).
• Private equity fund, a secured noteholder in debt-for-equity conversion and change of control transaction under Arsenal Resources’ pre-packaged chapter 11, in the United States Bankruptcy Court for the District of Delaware.
• Major offshore drilling company, largest creditor in chapter 11 cases of spun-off former subsidiaries and defense of spin transaction from fraudulent transfer challenge.
• Public MLP energy transport company in connection with the bankruptcy case of SemGroup and SemCrude, its then ultimate parent and sister-companies, in the United States Bankruptcy Court for the District of Delaware.
• Senior lender bank group in chapter 11 of one of the largest quick lube franchisees (previous firm experience).
• Eleven-member bank syndication under a defaulted $500 million mortgage loan warehouse facility in the Harbor Financial bankruptcy, with recoveries and repayment of over 95 percent of the debt, through pre-filing sale of portion of collateral and liquidation of remaining collateral in the United States Bankruptcy Court for the Northern District of Texas (previous firm experience).
• Representation of industrial conglomerate (with operations in 61 countries) in complex litigation involving environmentally impacted property that involved three years of litigation, discovery in four different states, and two favorable partial summary judgment rulings in our client's favor, including a ruling that our client's claims were not discharged in chapter 11 bankruptcy, with client's objectives being granted through settlement (previous firm experience).
• Representation of a creditor in Nevada bankruptcy proceeding involving a residential subdivision near Reno in which, following a trial on the merits of the client's rights and damages under an option to purchase a key portion of the subdivision, and a ruling in favor of our client from the Court of Appeals for the Ninth Circuit (sitting en banc) on the enforceability of the option in a federal bankruptcy proceeding, the client received cash on remand (previous firm experience).
• Non-operators, operators, gatherers and farmees in connection with bankruptcy filings of In re Samson Resources (Delaware) and In re Sabine Oil and Gas (New York).
• Public E&P company in connection with mitigating counter-party bankruptcy risks in respect of development, gathering, transportation and marketing contracts in shale plays across the country.
• Private equity fund in deployment of capital to distressed E&P companies in non-traditional financing structures, production payments and farmout agreements.
• Major midstream company on mitigating operator bankruptcy risks under gathering and transportation agreements in various states.
• International oil & gas company in connection with UK and U.S. insolvency proceedings in respect of Afren.
• Utility in securing natural gas supply under production payment structures and mitigating operator counter-party bankruptcy risk.
• Private equity fund in connection with credit facility to non-operating working interest owner under numerous joint operating agreements for leases throughout Texas and Oklahoma.
• International offshore drilling company in connection with mitigating counter-party bankruptcy risk and assessment of strategic acquisition opportunity in volatile commodity price environment.
• Private equity fund in connection with chapter 11 case of portfolio company, an offshore E&P company with leases and P&A liabilities in the U.S. Gulf of Mexico.
• Independent E&P company in connection with capital deployment and farmout agreements; mitigating counter-party bankruptcy risk.
• Representing lenders in connection with amendments of credit agreements to international offshore drilling company.