© 2015 The Texas Lawbook.
By Brooks Igo
(May 4) – Jones Walker recently tapped the corporate legal departments of two energy companies and enhanced their Houston office by bringing on David Roth and Shahid Ghauri.
Roth was the general counsel at Northern Star Generation LLC, a Houston-based privately held power generation company, for more than 10 years. Earlier in his career, he has practiced at Akin Gump and Paul Hastings and was assistant general counsel at Dynegy, where he led the finance and corporate transactions legal group.
A University of Texas School of Law graduate, Roth will practice in Jones Walker’s real estate group. He has more than two decades of experience counseling clients in transactions and financing in the energy industry.
Ghauri was the assistant general counsel of BHP Billiton Petroleum, where he was responsible for the legal function of the company with respect of its shale assets in the U.S., primarily in the Eagle Ford, Permian, Haynesville and Fayetteville shales. A former wireline logging engineer for Schlumberger, Ghauri will lead Jones Walker’s Texas oil and gas transactional practice.
His clients include E&P companies, midstream companies, petrochemical companies, oilfield service providers, private equity funds and lending institutions. He has also represented host governments and national and international oil companies with respect to structuring exploration and development programs in most of the world’s oil producing regions.
In a Q&A with The Texas Lawbook, the two Houston lawyers discuss why they chose Jones Walker, how their experience in-house has shaped the way they think about private practice and what hot topics they are keeping an eye on in 2015.
TLB: Why did you make the move to Jones Walker?
DR: After 11 years as general counsel at Northern Star Generation, I was looking for a new challenge. My previous experiences and relationships led me to the conclusion that building a practice of my own, supported by the right people and the right resources, was the exact thing I was looking for at this point in my professional life. Also, before my time at Northern Star, I had split my career pretty evenly between firm practice and in-house practice, and I liked that mix of skills and experiences. It was the right time for me to return to a firm, and Jones Walker was the right platform for the type of practice I planned to build.
SG: I was drawn to the firm’s depth of corporate and finance experience in energy matters, particularly in the firm’s footprint in Gulf South where many unconventional resources are located. I have a deep respect for the firm’s knowledge and experience in the E&P and oilfield services field sectors, and I wanted to join this talented team of attorneys.
TLB: How do you expect your experience in-house will shape the way you approach private practice?
DR: There are almost too many ways to list them all. Having served as a member of a senior management team sensitizes you to both how your advice is used and how it is received. You learn how to be effective, and when to marshal your resources for another day. And, of course, as a consumer of legal services, you have a keen understanding of the value of different types of legal services, and how to communicate the value of services that are necessary, but not very glamorous. Finally, you come to realize that the role you play has a potential impact on the professional lives of everyone you come into contact with, not just the CEO, CFO and General Counsel. Treat those people with the same care and respect and you win an ally, and maybe a friend, for life.
SG: I understand what clients are looking for in their outside legal team. They are looking for problem solvers who add value and efficiency to the way that matters are handled for their company. I know that a direct and straight answer is appreciated.
TLB: What trends/hot topics do you expect you and your clients will be addressing in 2015?
DR: It’s common wisdom that 2015 will be a challenging year for oil and gas clients, but I expect the power business to strengthen if the regulatory climate becomes more certain. I also think that later this year, we could see an opportunity for clients with available cash who have been waiting to buy assets at more reasonable valuations. In the broader economy, things seem to be picking up across the board, and that will eventually stimulate demand for a broad array of new projects.
SG: I believe that E&P and oilfield services companies will be looking at M&A opportunities in 2015. The companies with access to capital will be able to act opportunistically. I also expect that there will be a lot of discussion around issues relating to capital formation, liquidity, and reserve reporting. I also think that there will be a greater focus on operational efficiencies. Companies will need lawyers to advise them on maximizing their contractual options, particularly in respect to supply and procurement issues.
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