Skip to content
L. Price Manford
L. Price Manford
Senior Partner — Tax
Senior Partner — Tax

L. Price Manford

L. Price Manford

1001 Fannin Street
Suite 2500
Houston, TX 77002

New York

The Grace Building
1114 Avenue of the Americas
32nd Floor
New York, NY 10036

L. Price Manford

Price’s principal area of practice is federal income taxation. He has a broad-based energy tax practice, encompassing business transactions, publicly traded partnerships (MLPs), renewable energy, and tax controversy matters before the Internal Revenue Service. He also has significant experience in all tax aspects of the firm’s Energy practice.

Over the last few years Price has advised clients with respect to the formation, operation, reorganization, and restructuring of numerous MLPs and private partnerships in the upstream, midstream, and downstream energy business. He has also focused on the tax aspects of the acquisition, development, operation, and disposition of a variety of alternative fuel investments, including coal-based synthetic fuel, wind-powered assets, solar, and other renewable energy sources.

Price’s tax controversy practice encompasses audit, administrative appeals, and various matters before the Treasury Department and the National Office of the Internal Revenue Service.

Experience Highlights

  • Pattern Energy Group in a series of strategic transactions that include a $724 million long-term commitment by an investment entity managed by Riverstone

  • Westlake Chemical Partners LP in its $311 million initial public offering of common units

  • Susser Petroleum Partners LP in its $224 million initial public offering of common units

  • Apollo Global Management and Riverstone Holdings in the $7.15 billion acquisition, among a consortium of investors, of El Paso’s upstream assets

  • Multinational financial institute in a series of renewable fuels joint ventures with power plants

  • Obtained a favorable resolution for a multinational financial institute in connection with an IRS audit of alternative energy investments

  • PetroLogistics LP in its $595 million initial public offering of common units

  • Sprague Resources LP in its $153 million initial public offering of common units

  • CVR Partners, LP in its $353 million initial public offering of common units

  • Hoegh LNG Partners LP in its $221 million initial public offering of common units

  • Exmar Energy Partners LP in its initial public offering of common units (In Registration)

  • Foresight Energy LP in its $350 million initial public offering of common units

  • Energy Transfer Partners in the $1.8 billion acquisition of Susser Holdings Corporation, the owner of retail convenience stores and a wholesale fuel distributor, in a unit and cash transaction

  • Apollo Global in the $620 million acquisition by its portfolio company, Talos Energy, of Gulf of Mexico oil and gas assets from Helix Energy Solutions Group

  • PVR Partners in the $5.6 billion sale of the company, a publicly traded MLP which owns and operates a network of natural gas midstream pipelines and processing plants, and owns and manages coal and natural resource properties, to Regency Energy Partners

  • MarkWest Energy Partners in its $950 million joint venture with The Energy & Minerals Group for the construction and operation of midstream infrastructure in the Utica Shale, and subsequent increase of EMG’s funding commitment to the joint venture

  • Buckeye Partners in the $1.14 billion merger between Buckeye Partners and Buckeye GP Holdings

  • Soros Fund Management and Albright Capital Management in their $250 million investment in APR Energy, a provider of major turnkey temporary power generation services

  • The owner of over 100,000 acres of oil and gas rights in Eagle Ford Shale in south Texas in arrangements with a major international oil and gas company to develop such properties

  • Tyr Energy, an Itochu Corporation, in its $500 million joint equity investment in the 845 MW Shepherds Flat wind power generation project in Eastern Oregon, currently the largest wind farm in the world

  • A private equity fund in a $100 million acquisition of a portfolio of solar assets from a major utility

  • A private equity fund in connection with the acquisition of wind assets from major wind developers

  • Riverstone Holdings in connection with the formation of Pattern Energy Group to develop renewable energy and transmission assets in North America and parts of Latin America, and acquisition of Babcock and Brown’s $400 million wind development portfolio

  • Obtained a favorable resolution for StoneMor Partners L.P. in connection with an IRS audit to determine the client’s status as a partnership


  • The University of Texas School of Law, J.D., 1976 (Order of the Coif)
  • The University of Texas, B.A. with honors, 1973
  • The Best Lawyers in America© (BL Rankings, LLC), Tax Law, 2005−2017
  • Legal 500 U.S.,  Domestic Tax, 2015
  • Selected to the New York Metro Super Lawyers list, Super Lawyers (Thomson Reuters), 2014−2017
  • Member: American and Houston Bar Associations
  • Texas
  • “Thoughts for Officers and Directors of E&P Companies and MLPs in 2016,” V&E website, January 19, 2016 (co-author)
  • “Trends in Energy Transactions,” V&E Client Presentation, Houston, Texas, November 7, 2013
  • “ARRA Launches Obama’s Green Revolution,” Petroleum Economist, March 2009 (co-authored with Stephen Angle, John Decker, Debra Duncan, and Christine Vaughn)
  • Lecturer at numerous tax institutes
  • Written articles on taxation that have been published by The Institute on Oil and Gas Law and Taxation and The Journal of Taxation