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Stephen D. Davis
Stephen D. Davis
Experience | Education | Recognition | Activities | Publications
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Biography
Steve, a partner who has practiced at the firm since 1982, is a member of the firm's Corporate Department and both its Energy Transactions/Projects and M&A/Private Equity practice groups. He was a founding member of its worldwide Project Finance and Development practice and is also a member of the firm's Energy and Infrastructure Practice Coordinating Committee and its Brazil and Africa focus groups. Currently based in the firm's Houston office, from 1995 to 2001 Steve was the Managing Partner of V&E's first Asian office.
Steve has broad experience in representing sponsors/developers and project companies, sellers and buyers, financial institutions, private equity investors, and other parties to major transactions relating to oil and gas, LNG, power, refining, midstream, processing, petrochemical, renewables and cleantech, pipeline, and other energy industries, with emphasis on project finance and development, mergers and acquisitions, joint ventures, foreign direct investment, private equity and venture capital, and restructuring and reorganization transactions, including ones involving climate change, carbon capture, emissions credits, and related issues.
In recent years, Steve has worked on over 50 major transactions in these areas, in jurisdictions spread over five continents. He has been named in The Best Lawyers in America® 2012 in the practice areas of Energy Law and International Trade and Finance Law; Euromoney’s Best of the Best 2010 and 2008 as one of the top 25 energy lawyers in the United States; The International Who's Who of Oil & Gas Lawyers, 2010 and 2011; Legal Media Group’s (Euromoney's) inaugural edition of the Expert Guide to Leading Practitioners: China, 2011, in Energy, M&A, and Private Equity; Legal Media Group’s (Euromoney's) Expert Guide to the World’s Leading Project Finance Lawyers, 2010 and Legal Media Group’s (Euromoney's) Expert Guide to the World’s Leading Energy and Natural Resource Lawyers, 2011; PLC Which Lawyer? Yearbook 2009/10 as a leading energy lawyer; and as a “Top Notch Lawyer” in international law, Texas Lawyer’s Go-To Guide, 2007. In addition, Steve for a number of years was named one of Asia’s Leading Lawyers in Asia Law & Practice surveys of practitioners in the region.
Steve has also served as co-head of the firm's Middle East/North Africa practice group. In addition to his roles within the firm, Steve serves as Past Chair of the International Law Section of the State Bar of Texas (having served on its Council since 2004), as a member of the Board of Directors of the Houston World Affairs Council, and as a member of the Texas Supreme Court Task Force on the practice of international law. Steve's undergraduate degree is in Chemical Engineering.
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Representative Experience
Project Finance and Development View All
- Representing a large East Asian company in connection with a project to source natural gas from several suppliers, process it into LNG at a U.S. liquefaction facility and market the LNG to East Asian buyers
- Representing a European utility in connection with establishment and expansion of its U.S. renewable energy operations
- Representing an international chemical company in connection with its proposed development of a U.S.-based ethylene cracker and polyethylene project, including sourcing of long-term suppliers of ethane extracted from shale gas resources
Mergers and Acquisitions View All
- Representing a leading U.S. financial institution in connection with a joint venture with an Asian state-owned company to pursue acquisitions of U.S. oil and gas properties
- Representing a U.S. venture entity in connection with analysis of the implications of the spin-off of Phillips 66 by ConocoPhillips Company
- Represented a leading U.S. private equity investor in connection with its large investment in a Brazilian platform company pursuing E&P investments
Financings and Structured Transactions View All
- Representing an international E&P company in obtaining financing from JOGMEC (Japan Oil, Gas and Metals National Corporation) in connection with development of a U.S. oil and gas project
- Represented a large financial institution in connection with a complex contract monetization transaction involving a long-term supply contract between a refiner and a power plant
- Represented a Japanese trading company in connection with a trade financing involving a Venezuelan oilfield service company
Private Equity View All
- Representing a private investment company in connection with a series of proposed investment transactions globally, including in North America, Africa and the Middle East
- Represented a leading U.S. private equity investor in connection with its large investment in a Brazilian platform company pursuing E&P investments
- Represented a clean water technology and equipment company on transactions to raise funding for the further expansion of its business providing technology and equipment to treat flowback water from hydraulic fracturing of shale gas wells
Asia-Pacific View All
- Represented Sinopec International Petroleum Exploration and Production Company (Sinopec) in connection with its agreement with Repsol Brasil to subscribe for new shares comprising 40% of the share capital of Repsol Brasil for an aggregate base consideration of US$7.109 billion and related shareholder, subscription, and diligence matters
- Handled matters related to the U.S. $5 billion development of Philippine natural gas reserves and related pipeline facilities and power plants, including negotiation of numerous gas sales agreements and government support documents, analysis of project finance issues, work on EPC matters, and other related matters
- Handled matters related to the development and project financing of a U.S. $1.2 billion Indonesian gas gathering, processing and transmission project, which involved a unique natural-gas-for-crude-oil exchange and export feature, including EPC work for the large gas processing plant and a “step-in rights” agreement related to construction of the gas pipeline
Power View All
- Represented a large financial institution in connection with a complex monetization transaction involving a long-term supply contract between a refiner and a power plant
- Representation of a U.S.-based independent developer in connection with a turbine supply agreement for a Latin American power project
- Handled matters related to coal-based synthetic fuel transactions in the United States, including several M&A and project transactions, all involving the power industry
Construction View All
- Representing the lead sponsor of the first Canadian LNG liquefaction facility on development, LNG sales, EPC arrangements, and financing matters, as well as the lead sponsor of an Australian LNG liquefaction facility to be supplied by coal-bed methane on EPC-related matters
- Representing a U.S. petrochemical company on negotiation of a major equipment supply and license agreement with a Japanese supplier and preparation of a procurement services agreement with a Chinese contractor
- Represented three different energy companies on matters relating to development or restarting of four different LNG receiving terminals in North America, including the EPC contracts for both the onshore works and the jetty works for the Canaport LNG project in New Brunswick, Canada, Canada's first re-gas terminal
Prior results do not guarantee a similar outcome.
Education and Professional Background
- The University of Texas School of Law, J.D. with honors, 1981
- Louisiana State University, B.S. Chemical Engineering with honors, 1979
- Brown & Root, Abu Dhabi, United Arab Emirates, and Bahrain, 1979 - 1980
- Admitted to practice: Texas, 1982
- Extensive travel throughout Asia, Australia, Europe, Southern Africa, the Middle East, and Central and South America
Professional Recognition
View All
- The Best Lawyers in America® in energy law, 2009 - 2012; international trade and finance law, 2006 - 2012; in corporate, M&A, and securities law, 2005 and 2006
- Legal Media Group's (Euromoney's) inaugural edition of the Expert Guide to Leading Practitioners: China in Energy, M&A, and Private Equity, 2011
- Legal Media Group's (Euromoney's) Expert Guide to the US Best of the Best in energy and natural resources law, 2008 and 2010
Activities and Affiliations
View All
- Past Chair of the International Law Section of the State Bar of Texas
- Member: Texas Supreme Court Task Force on the Practice of International Law
- Member: Association of International Petroleum Negotiators (AIPN)
Publications and Presentations
- Steve has published numerous articles on a variety of international energy and finance topics and is a frequent speaker in numerous venues on international project finance and energy industry topics
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Full Biography
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First City Tower 1001 Fannin Street Suite 2500 Houston, TX 77002-6760
Tel +1.713.758.3862
Fax +1.713.615.5597
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