Beginning as a full-service Houston firm in 1981, the firm has cut out a unique niche dealing extensively with middle and lower market transactions, while still competing with the large coastal firms that have come to dominate Houston’s transactions.
The firm is heavily involved with the oil and gas and healthcare industries, however they keep a diverse portfolio in dealing with business transactions of all sorts.
Building on the firm’s Texas presence, Porter Hedges established their Oklahoma City office in 2014 in order to leverage mutual clients and further established relationships by putting a particular emphasis on advising corporate clients on upstream and midstream oil and gas transactions.
The firm’s Oklahoma City team continues to be active in many local M&A transactions, including its representation of White Star Petroleum, a local Oklahoma City oil and gas company, in its sale of its interest in a midstream gathering system and associated assets to 4 AM Midstream, a local midstream company.
Porter Hedges’ capital markets group consists of six partners with expertise in representing issuers, underwriters, and trustees in public and private offerings and financings and financings of equity and debt securities across a broad array of industries, primarily focused in upstream, midstream alternative and oilfield services in the energy industry. The team’s experience can highlighted in serving as underwriter’s counsel for JP Morgan Securities in a public offering by Sanchez Energy Corporation of 10,500,000 shares of its common stock at a public offering price of $12.50.
The firm’s powerhouse M&A practice represents public and private acquirers, targets, financial advisors, independent board committees, private equity funds, and other equity investors in domestic and international transactions. The team represented Five Point Capital Partners, a Houston based private equity firm, in the formation of San Mateo Midstream, along with Matador Resources Company. San Mateo Midstream will own, operate and expand natural gas, crude oil, and produced water midstream assets in the Delaware Basin, for a total value of $500 million at closing.
The team’s restructuring practice represents debtors, creditors, trustees, creditors’ committees, institutional lenders and investors in connection with out of court debt restructurings, acquisitions and financings, in addition to Chapter 7, 9, and 11 bankruptcy cases throughout the US, with a particular focus on reorganisations. The firm’s restructuring practice can be seen in its representation of Business Property Lending, a wholly owned subsidiary of EverBank Financial Corporation, in prosecuting a creditor plan of liquidation and related disputes in the chapter 11 bankruptcy case of Cowboys Far West in the United States Bankruptcy Court for the Western District of Texas, San Antonio Division, with Everbank serving as the senior secured lender.