Boyd G. Carano

Boyd G. Carano Partner, Energy Transactions & Projects

For more than 25 years, Boyd has built a law practice focused on international business transactions, and has represented clients in more than 100 international engagements. Currently based in Houston, Boyd previously worked in Palo Alto, Mexico City, New York, and Singapore. He is a member of Vinson & Elkins' Energy Industry group and worldwide Project Finance and Development practice group.

Having acted as lead counsel to multinational companies and partnerships in a variety of energy transactions in North America, Asia, and Latin America, Boyd has particular experience in mergers and acquisitions, and development projects in upstream, midstream, power, clean energy, and refined product sectors. He also advises clients on joint ventures and acquisitions in the renewable energy, financial, manufacturing, hospitality, and real estate sectors.

Experience Highlights

  • Statoil in the $2.5‎ billion acquisition from Petrobras of a 66 per cent interest (and operatorship) in the Carcara field in block BM-S-8 offshore Brazil
  • Talos Energy LLC, as member of a consortium and Operator, in its successful bid for two awarded offshore blocks in Mexico’s first hydrocarbons auction and other matters in respect of their operation and joint ownership
  • Riverstone Holdings LLC in the formation and $525 million (aggregate) initial capitalization of Sierra Oil & Gas S. de R.L. de C.V., Mexico’s first independent exploration and production company
  • Energy Transfer Partners in the $400 million proposed development of a cross-border natural gas pipeline to the Chihuahua industrial corridor in Mexico
  • HRT O&G Exploração e Produção de Petróleo in a sale and purchase agreement to acquire a 40% interest in the Polvo Field offshore Brazil from Maersk Energia Ltda. in exchange for cash consideration and the assumption of certain decommissioning obligations
  • Sinopec in the $7.1 billion acquisition of a major interest in the Brazilian assets and operations of a large European energy company, and related shareholder, subscription, and diligence matters

Upstream Oil & Gas Transactions

  • Statoil in the $3.08 billion sale of a 40% share in the Peregrino oil field in Brazil to Chinese state-owned oil company Sinochem Group
  • HRT O&G Exploração e Produção de Petróleo in the transfer to a Russian oil major of concession rights in 21 exploratory blocks in the Solimões basin covering 48,500 square kilometers for $1 billion (plus contingent payments of as much as $5 billion), and agreements for their joint operation and ownership, including a put/call option for the possible future transfer of majority ownership and operatorship of the Solimões concession
  • A U.S. oil company in the farmout of interests in offshore oil and gas concessions in Brazil, and the negotiation of related joint venture and joint operating arrangements
  • A large Asian oil company in renegotiating and restructuring its investment in Orinoco Belt extra heavy oil properties and processing facilities in response to Venezuelan state action
  • HRT O&G Exploração e Produção de Petróleo in its $135 million asset acquisition from BP Energy do Brasil Ltda of a 60% operating interest in the Polvo field, including the Polvo A fixed platform, a 3,000-horsepower drilling rig, and other assets necessary to operate the field, which produces 13,000 barrels per day of oil from the Campos Basin offshore Brazil
  • A European energy company in its $2.1 billion acquisition of offshore oil and gas properties in Brazil and the Gulf of Mexico
  • A consortium of Chinese oil companies in connection with the $1.42 billion acquisition of oil and pipeline interests in Ecuador, including net proved reserves of approximately 143 million barrels and a 36 percent stake in the 500-kilometer export pipeline with transport capacity of 450,000 barrels per day

Power, Clean Energy & Renewables

  • eSolar in connection with a transaction with NRG Energy, Inc. for the development of three solar thermal power plants totaling up to 500 MW in the U.S
  • Aurora Biofuels/Aurora Algae in the development of a commercial scale algae-to-fuel biorefinery in Western Australia, including negotiation of CO2 supply agreements, seawater access agreements, and EPC contracts
  • El Paso Corporation in $358 million sale to Petrobras of its interest in the Macae 928 MW gas-fired power plant in Brazil, including the prepayment of approximately $229 million of related non-recourse project financing
  • Warburg Pincus in the $205 million joint line of equity commitment to Omega Energia, a Brazilian developer of small hydropower projects
  • A solar gasification-based renewable energy company in the ongoing development of a commercial-scale biorefinery, utilizing concentrating solar power, biomass, and natural gas for the production of liquid “drop in” transportation fuels
  • An international energy company in the sale of its 50 percent interest in an 1,800 MW power project at Incheon, Korea, for approximately $285 million

Other Mexico & Latin American Transactions

  • Warburg Pincus in evaluating the development of a crude and refined products terminal in Colombia in connection with its lead role in a $600 million line of equity investment in Zenith Energy
  • An international telecommunications infrastructure services company in a series of transactions for the installation of dark fiber infrastructure in South America’s Southern Cone
  • A private equity fund in stock and asset acquisitions of seed producers in Argentina and Chile
  • A significant U.S. real estate development and management company in its winning bid for the purchase of a 21-story office building in Mexico City from FOBAPROA, the predecessor to IPAB and Mexico’s version of the RTC
  • Two leading U.S. hospitality companies in their joint acquisition of two Mexico City hotels valued at $133 million
  • A $5 billion multinational office products company in its acquisition of an office products company with operations throughout Mexico
  • An Illinois-based auto parts company in its joint venture with a leading Mexican auto parts company to manufacture truck suspension systems in Mexico for worldwide distribution
  • A major U.S. fertilizer company in the negotiation, organization, and ultimate dissolution of its joint venture with a leading agricultural marketing company to market and distribute fertilizer products in Mexico
  • A major U.S. paint and adhesives manufacturer in the acquisition of a specialty adhesives manufacturing plant in Mexico City
  • A leading horticulture supply company in its investment in a joint venture of several U.S. fresh-cut flower companies for the production of roses in Mexico for export
  • A large U.S. industrial company in its acquisition of a Mexican maquiladora plant engaged in the fabrication of steel construction components, including doors, door frames, and similar pieces
  • A leading U.S. investment firm specializing in roll-ups in the Mexican tax and legal structural planning of its acquisition of a heavy-duty construction equipment company with Mexican manufacturing and distribution facilities


Contact Details


T +1.713.758.2534
F +1.713.615.5051
1001 Fannin Street
Suite 2500
Houston, TX 77002
Local time: 8:09 AM
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Boyd's Practices

  • Georgetown University Law Center, J.D., 1984
  • Georgetown University School of Foreign Service, B.S.F.S., History and Diplomacy, 1981 (Rowe Citation as Outstanding Graduate in Latin American Studies)
  • Admitted to practice: Texas; District of Columbia; New York; California
  • Other Language: Spanish
    • Chambers Global, Energy & Natural Resources (Latin America), 2016
    • Chambers Latin America, Energy & Natural Resources, 2016 and 2017 
    • Chambers USA, Latin American Investment (Texas), 2016
    • Legal 500 Latin America, Corporate and M&A, 2012–2016; Projects and Energy, 2013–2016
    • Latin Lawyer 250, 2014–2016
    • Who's Who Legal (Law Business Research Ltd.); Energy, 2014–2016
    • Legal Media Group’s (Euromoney’s) Expert Guide to the World’s Leading Banking, Finance & Transactional Lawyers, Project Finance, 2012 and 2014–2016
    • Latinvex, Latin America’s Top 100 Lawyers, 2014–2015
    • The International Who’s Who of Oil & Gas Lawyers, 2010–2013; “Most Highly Regarded Individuals,” 2012
    • LMG Cleantech & Renewable Energy, Cleantech 100, 2013
    • Legal 500 U.S., Energy Transactions, 2012; Project Finance, 2011
    • Chambers Global, Projects, 2011
    • Legal Media Group’s (Euromoney’s) Expert Guide to Leading Practitioners: China, Energy (International), 2011–2012; Project Finance (International), 2011–2012; M&A, 2011
    • Legal Media Group’s (Euromoney’s) Expert Guide to the World’s Leading Energy and Natural Resource Lawyers, 2001, 2004, 2006, 2008, 2010 and 2011


      • Member: Board of Directors, World Affairs Council of Houston, 2006–2009
      • Life Fellow: Houston Bar Foundation
      • Co-Chair: Legal Services Committee, American Chamber of Commerce in Singapore, 2002–2004
      • Member: Inter-American Affairs Committee, Association of the Bar of the City of New York, 2000
      • Adviser on Legal Matters: Investment Promotion Task Force, the American Chamber of Commerce in Mexico, 1997
      • Vice Chair: U.S. and Cross Border Legal Matters Committee, American Chamber of Commerce in Mexico, 1996–1998