Steven Tredennick

Partner, Houston

Biography

Overview

Steven Tredennick is a partner in White & Case's M&A practice, based in Houston, Texas with particular expertise in transactions involving the oil & gas industry. Steven focuses on merger and acquisitions, corporate finance matters, joint ventures, and governance matters with respect to limited liability companies and partnerships, including the formation, merger, acquisition, dissolution or restructuring of all forms of alternative business entities and regularly represents private equity funds and their portfolio companies in merger and acquisition transactions.

Steven has a broad range of experience with mergers and acquisitions in a variety of energy related industries, including oil and gas exploration and production, oilfield services, natural gas storage and manufacturing.

Steven is also experienced in the negotiation and analysis of joint operating agreements, participation agreements, unit and unit operating agreements, joint development agreements, farmouts and other oil and gas joint venture arrangements. In addition he has represented both acquiring and acquired interests in transaction structuring in anticipation of foreign investment/national security reviews before the Committee on Foreign Investment in the United States ("CFIUS") under the Exon-Florio statute.

Prior to joining the Firm, Steven was a partner and chair of the Houston corporate practice at another leading international law firm.

Bars and Courts
Texas
Education
JD
University of Virginia
MP
University of Virginia
BA
Whittier College
Languages
English

Experience

Oil and Gas; Midstream & Downstream Transactions

  • Priority Power Management, LLC, an independent energy management services and consulting firm, in its acquisition of Satori Enterprises LLC (d/b/a Satori Energy), a leading energy consulting firm based out of Chicago, Illinois serving more than 55,000 industrial, municipal and residential clients in 25 states, the District of Columbia, Canada and Mexico.
  • Macquarie Infrastructure Corporation in connection with the sale of its International-Matex Tank Terminals business to an affiliate of Riverstone Holdings, Inc. for US$2.67 billion, and including assumed debt of approximately US$1.11 billion.
  • Milestone Environmental Services, LLC in connection with its Main Street Loan Facility.
  • CSG Investments, Inc. in connection with modification of its $250 million senior secured term loan for a subsidiary of U.S. Well Services, Inc. are related convertible preferred stock issuance.
  • Jefferies, financial advisor to the Board of Directors of SemGroup Corporation, in Energy Transfer LP's approximately $5 billion acquisition of SemGroup Corporation.
  • Motiva Enterprises in connection with its acquisition of Flint Hills Resources' chemical plant in Port Arthur, Texas.
  • Five Point Energy LLC and WaterBridge Resources in connection with the sale of a minority equity stake in WaterBridge Resources to affiliates of GIC.
  • An oilfield waste disposal services provider in multiple asset acquisitions and divestitures across the Permian Basin, Eagle Ford Shale and Haynesville Shale.
  • Delek Group in its Participation Agreement and Line of Credit with GulfSlope Energy, Inc. covering various oil and gas drilling sites in the Gulf of Mexico, including Delek Group's acquisition of approximately 26% of the common stock of GulfSlope.
  • Delek Group in its acquisition of a 22.45% working interest in the Caesar Tonga field in the Gulf of Mexico from Shell for US$965 million, and a long-term purchase agreement with Shell Trading (US) Company for the produced oil.
  • Recoil Resources, LLC in its acquisition of oil and gas assets in the Eagle Ford from Lonestar Resources, Inc.
  • Ara Partners in its majority investment in Priority Power Management, LLC, an independent energy management services and consulting firm.
  • WaterBridge Resources LLC in the acquisition of water gathering and disposal assets from Luxe Energy LLC.
  • WaterBridge Resources LLC in the acquisition of water gathering and disposal assets from Concho Resources Inc.
  • Jefferies LLC, financial advisor to the Conflicts Committee of MPLX LP, in Marathon Petroleum Corp.'s US$9 billion merger of MPLX LP and Andeavor Logistics LP.
  • Jefferies as financial advisor to the Conflicts Committee of the Board of Directors of High Crush Partners LP in connection with its conversion to Hi-Crush, Inc.
  • Jefferies as financial advisor to the Conflicts Committee of the Board of Directors of the general partner of Valero Energy Partners LP in connection with its acquisition by Valero Corporation.
  • Milestone Environmental Services, LLC, an oilfield environmental services provider, in an exchange of real property and produced water disposal assets with High Roller Group.
  • Ara Partners Group in its majority investment in Centric Gas Services, an owner and operator of local gas distribution companies and gas transmission pipeline companies.
  • Junction Energy Capital and Ara Partners Group in connection with their majority investment in Puralube, Inc.
  • Recoil Resources, LLC in its acquisition of oil and gas assets in the Eagle Ford from Hunt Oil Company.
  • Energy Allied International Corporation and Sandpiper Chemicals LLC as sponsors in the development and construction of a 3,000 m/ton per day methanol facility in Texas City, Texas.
  • Water Bridge Resources LLC in the acquisition of EnWater Solutions, LLC, a leading produced water gathering and disposal company in the Southern Delaware Basin.
  • Water Bridge Resources II in the acquisition of Arkoma Water Resources, LLC, a produced water gathering and disposal system owned by USG Surface Facilities I, LLC.
  • IDG Energy International Limited in its acquisition of US$170 million of non-operating oil and gas assets in the Eagle Ford.
  • SEAH Steel Corporation in the acquisition of Sojourn Partners, L.L.C. and O.C.T.G., O.L.L.P.
  • Guggenheim Investments as a "stalking horse" bidder for the assets of CCNG Energy Partners, L.P.
  • Venture Mud One, L.P. and its affiliates with the sale of substantially all of their assets to Canadian Energy Services & Technology Corp.
  • R360 Environmental Solutions, Inc. with its acquisition of Prairie Disposal, Inc. and Prairie Liquids, LLC, leading providers of E&P waste management services in the Williston Basin.
  • Waste Connections Inc. in its acquisition of Zenith Produced Water, LLC.
  • Buccaneer Energy in its disposition of offshore oil and gas properties in Alaska's Cook Inlet.
  • Buccaneer Energy in a participation agreement covering the joint development of offshore oil and gas properties in Alaska's Cook Inlet.
  • Buccaneer Energy in the purchase and acquisition financing of the jack-up rig, The Endeavor: Spirit of Independence.
  • Juno Energy, LLC in the sale of oil and gas properties to Sheridan Production Co. LLC.
  • Element Petroleum LLC in the sale of oil and gas properties to Mariner Energy, Inc.
  • OFS Energy Services, LLC in the sale of most of its assets to Key Energy Services, Inc.
  • Thorpe Corporation in the leveraged buyout by The CapStreet Group.
  • Special Committee of National Energy Group, Inc. in the ultimate sale of E&P assets to affiliate of American Real Estate Partners, LP.
  • ArcLight Capital Partners, LLC in the acquisition and later sale of its ownership interest the Southern Pines Energy Center.
  • ArcLight Capital Partners, LLC in the acquisition of the Houston Fuel Oil Terminal Company.

Private Equity Commitments

  • ARM Energy Holdings, LLC in connection with the formation of ARM Resource Partners, LLC (ARM Resources) with a capital commitment from EIV Capital, LLC. ARM Resources will focus on making investments in various non-operating working interests, producing and non-producing mineral interests, royalty interests and other passive upstream investments within the United States.
  • ARM Energy Resources, LLC in connection with its US$100 million equity commitment by EIV Capital, LLC and ARM Energy Holdings, LLC.
  • WaterBridge, a portfolio company of Five Point Energy and provider of water management solutions to the E&P industry, on its issuance of US$345 million of equity capital through the issuance of US$195 million of common equity to Five Point Energy, GIC and management and issuance of US$150 million of perpetual preferred equity to a subsidiary of Magnetar Capital.
  • Fortuna Resources MGMT, LLC in an undisclosed equity commitment by North Hudson Resources Partners.
  • Triten Energy Partners, LLC in its US$150 million equity commitment by Tailwater Capital.
  • Recoil Resources, LLC in its equity commitment by Energy Transfer Partners.
  • Water Bridge Resources II LLC in its US$400 million equity commitment by Five Point Capital Partners.
  • Water Bridge Resources LLC in its US$200 million equity commitment by Five Point Capital Partners.
  • Rover Petroleum Holdings LLC in its US$250 million equity commitment by Riverstone Holdings LLC.
  • Castex Energy in its US$200 million equity commitment by Riverstone Holdings LLC and Riverstone Energy Limited.

Cross Border Mergers and Acquisitions

  • Motiva Enterprises in connection with itsacquisition of Flint Hills Resources'chemical plant in Port Arthur, Texas.
  • Five Point Energy LLC and WaterBridge Resources in connection with the sale of a minority equity stake in WaterBridge Resources to affiliates of GIC.
  • Delek Group in its Participation Agreement and Line of Credit with GulfSlope Energy, Inc. covering various oil and gas drilling sites in the Gulf of Mexico, including Delek Group's acquisition of approximately 26% of the common stock of GulfSlope.
  • Delek Group in its US$965 million agreement to acquire the Caesar Tonga oil field in the Gulf of Mexico assets from Shell.
  • Junction Energy Capital and Ara Partners Group in connection with their majority investment in Puralube, Inc.
  • COSCO Shipping Holdings Co. Ltd. in its voluntary general offer for Orient Overseas International Limited.
  • Marubeni America Corporation in its acquisition of a leading auto parts distributor in the Southwestern United States and Caribbean.
  • KBR Inc. in its acquisition of Chematur Engineering Subsidiaries Weatherly Inc., Plinke GmbH and Cuematur Ecoplanning Oy.
  • Marubeni America Corporation in its acquisition of direct-to-the installer automotive parts supplier.
  • Norsk Hydro ASA in its acquisition of NYSE listed Spinnaker Exploration Company.

Investor Representation

  • General Electric Pension Trust in its initial and follow-on co-investments in Venari Resources LLC.
  • General Electric Pension Trust in its co-investment in Warwick-Minerva, LLC.
  • Chinese pension fund in its investment in EPE Acquisition, LLC, the acquirer of EL Paso Energy Corporation.
Awards and Recognition

Leading Lawyer for M&A and Private Equity in the United States, Euromoney's Expert Guide, 2018, 2019, 2020, 2021