Paul Hastings Adds Energy-Focused Partners

The Paul Hastings law firm has brought on two energy-focused transactional partners in Houston.

Ned Crady and David Peterman joined from Baker Botts, and their arrival will bolster Paul Hastings’ M&A, capital markets, finance and private equity capabilities, according to the firm.

“With its intense degree of transactional activity and reliance on the global financial and capital markets for funding, the energy industry is an important driver of growth in the legal marketplace,” said Seth Zachary, chairman of Paul Hastings.

“Strengthening our robust, focused and strategic practices in Houston is a top strategic priority for the firm,” he added.

The lateral market for lawyers with energy-related experience has been active, especially in Texas, as major firms tap into established expertise to beef up their practices in energy and infrastructure.

Paul Hastings said its Houston office is the gateway for Texas-based energy clients to access its capital markets, finance, tax advisory and litigation advisers.

Its Houston team, the firm said, has been advising in high-profile and complex energy matters, including the recent $4 billion refinancing of Valero Energy Corporation’s unsecured revolving credit facility.

Other matters include two senior unsecured revolving credit facilities, involving $2 billion, for Murphy Oil Corporation, and over 35 energy financing deals—valued at over $20 billion—for Wells Fargo in the past four years.

Paul Hastings’ hiring of Crady and Peterman is the latest in a steady stream of corporate partner additions. Crady has worked extensively in the oil, gas and power sectors, and on energy projects and transactions throughout the United States, as well as internationally, including in Brazil, Canada, Mexico, Spain and Venezuela.

Peterman’s experience is focused on M&A, particularly in energy and oilfield services.

Crady said he was attracted to Paul Hastings because of the strength of its practices in M&A, capital markers, finance, private equity and tax.

“The firm’s practice prowess, together with its strength in Houston, New York and London, was very attractive to us and our clients,” he said in a statement.

Recently, Paul Hastings also added Jonathan Ko, a capital markets lawyer. Other new hires in the works are mergers and acquisitions partner Jonathan Kellner and capital markets partner David Flechner, and several members of their team, in Sao Paulo.

Earlier this year, the firm said it added more than a dozen partners, in a range of practices, in its New York, London, Palo Alto, Paris, and Washington offices.