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David Palmer Oelman

David Palmer Oelman Partner, Capital Markets and Mergers & Acquisitions

David focuses his practice primarily on corporate and securities transactions for public companies, private companies, investment banks, and private equity firms.

His representation includes publicly traded limited partnerships; advising boards on corporate governance matters; public offerings and private placements of equity and debt; mergers, acquisitions, and dispositions; and joint ventures and private equity investments. David has particular experience with publicly traded master limited partnerships, exploration and production companies, and royalty trusts. David was the leading domestic IPO practitioner in 2012 and 2011, and third overall from 2010-2014. 

David co-heads the firm’s Mergers & Acquisitions and Capital Markets practice group.

    Experience Highlights

    • Continental Resources in its $220 million sale of mineral rights in the SCOOP and STACK oil and gas plays and formation of a joint venture with Franco-Nevada Corporation
    • BP Midstream Partners LP in its $765 million initial public offering of common units 
    • Select Energy Services in its $1.3 billion merger with Rockwater Energy Solutions
    • SemGroup Corporation in its $2.1 billion acquisition of Houston Fuel Oil Terminal Company, one of the largest oil terminals in the U.S., from Alinda Capital Partners
    • Oasis Midstream Partners LP in its $147 million initial public offering of common units
    • Liberty Oilfield Services, Inc. in its $249 million initial public offering of common stock 
    • Underwriters to Antero Midstream GP LP in its $875 million initial public offering of common units by a selling securityholder
    • Select Energy Services, Inc. in its $122 million initial public offering of common stock
    • The General Partner of Dominion Midstream Partners in the $1.725 billion acquisition of Questar Pipeline from Dominion Resources 
    • Plains GP Holdings, L.P. in its $7.2 billion simplification transaction between Plains All American Pipeline, L.P. and Plains AAP, L.P.
    • Underwriters to CNX Coal Resources LP in its $83 million initial public offering of common units

    Master Limited Partnerships

    • Underwriters to Tallgrass Energy GP, LP in its $1.4 billion initial public offering of common units
    • Underwriters to EQT GP Holdings, LP in its $714 million initial public offering of common units by a selling securityholder
    • Dominion Midstream Partners, LP in its $423 million initial public offering of common units
    • Westlake Chemical Partners LP in its $311 million initial public offering of common units
    • Plains GP Holdings, L.P. in its $2.9 billion initial public offering of common units
    • Columbia Pipeline Partners LP in its $1.2 billion initial public offering of common units
    • Antero Midstream Partners LP in its $1.15 billion initial public offering of common units
    • Underwriters to CONE Midstream Partners, LP in its $443 million initial public offering of common units
    • Western Refining Logistics, LP in its $348 million initial public offering of common units
    • Underwriters to Tallgrass Energy Partners, LP in its $314 million initial public offering of common units

    IPOs & Equity Offerings

    • GlobeLTR Energy Inc. in its $115 million Rule 144A offering of Class A-1 common stock 
    • Select Energy Services, Inc. in its $360 million Rule 144A offering of Class A-1 common stock 
    • FMSA Holdings Inc. in its $400 million initial public offering of common stock by a selling stockholder 
    • Midstates Petroleum Company, Inc. in its $234 million initial public offering of common stock
    • Pacific Drilling S.A. in its $57 million initial public offering of common stock
    • C&J Energy Services, Inc. in its $384 million initial public offering of common stock
    • ECA Marcellus Trust I in its $202 million initial public offering of trust units
    • Oasis Petroleum Inc. in its $676 million initial public offering of common stock
    • Continental Resources, Inc. in its $443 million initial public offering of common stock

    Mergers & Acquisitions

    • Energy Transfer Partners in the transfer of 100% of outstanding interests in Trunkline LNG Company, whose primary asset is a regasification facility in Lake Charles, Louisiana, to Energy Transfer Equity
    • The Shaw Group in its $3 billion sale to Chicago Bridge & Iron
    • Devon Energy Corporation in the $8.84 billion contribution of substantially all of its U.S. midstream business to Crosstex Energy, Inc. and Crosstex Energy, L.P, to form a consolidated midstream business controlled by Devon
    • Energy Transfer Partners in the $3.75 billion purchase of Energy Transfer Equity’s 60% interest in ETP Holdco Corporation
    • Energy Transfer Partners in the $1.5 billion contribution by Southern Union Company, its affiliate through a joint venture with Energy Transfer Equity, of Southern Union Gas Services to Regency Energy Partners; transaction includes 5,600-mile gathering system and approximately 50 million cubic feet per day of processing and treating facilities in West Texas and New Mexico
    • Energy Transfer Equity in the $5.3 billion drop down of interest in Southern Union Company into an Energy Transfer Partners-controlled entity


    Contact Details

    Houston

    T +1.713.758.3708
    M +1.832.266.9503
    F +1.713.615.5861
    doelman@velaw.com
    1001 Fannin Street
    Suite 2500
    Houston, TX 77002
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    David's Practices

    • University of Texas School of Law, J.D. with honors, 1990 (Chancellors; Phi Kappa Phi; Order of the Coif)
    • Princeton University, B.A. Public and International Affairs summa cum laude, 1987 (Phi Beta Kappa)
    • Admitted to practice: Texas
    • Legal 500 U.S., Capital Markets: Equity Offerings, 2013-2019; Debt Offerings, 2013-2019; High-Yield Debt Offerings, 2018; Venture Capital and Emerging Companies, 2017; Real Estate Investment Trusts, 2019
    • The Best Lawyers in America©(Woodward/White, Inc.),  “Lawyer of the Year,” Corporate Law (Houston), 2013
    • The Best Lawyers in America©(Woodward/White, Inc.), Corporate Law, Mergers & Acquisitions Law, 2005-2019
    • Chambers Global, Capital Markets: Debt & Equity (USA) 2014–2019
    • Chambers USA, Capital Markets: Debt & Equity (Nationwide), 2013–2018; Capital Markets: Debt & Equity (Texas), 2013–2019; Corporate/M&A (Texas), 2005–2015; Capital Markets: Debt & Equity: Central United States (Nationwide), 2019
    • The International Who’s Who of Capital Markets Lawyers, 2007, 2008, and 2010
    • Selected to the Texas Super Lawyers list, Super Lawyers (Thomson Reuters), 2003–2018
    • Board of Directors: Master Limited Partnership Association 
    • Board of Directors: Theatre Under the Stars
    • Board of Trustees: The Kinkaid School

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