After nearly seven years in-house at ExxonMobil, Katie Wiley has been recruited to be the general counsel at 547 Energy, the clean energy investment platform of Quantum Energy Partners.
Wiley, who started at 547 Energy in June, said her main motivation was to get out of oil and gas, after an especially tumultuous year for the industry, and find an opportunity to work for a company that is embracing the energy transition.
The Ohio State-trained lawyer started her career at Skadden, Arps, Slate, Meagher & Flom, where she worked on multibillion-dollar acquisitions, divestments and project financings. The relationships she developed in representing ExxonMobil in its $3.2 billion strategic partnership with Rosneft Oil Company paved the way for her joining the oil major and moving to Houston.
Wiley elaborated on her move to 547 Energy in the following Q&A with The Texas Lawbook.
The Texas Lawbook: How did the 547 Energy opportunity come up? Why did you decide to make the move?
Katie Wiley: My main motivation in my job search was to get out of oil and gas. I recognize that we are moving towards a low carbon (or lower carbon) future and I really wanted to work for a company that is embracing being part of the energy transition. Given the low price environment and the pandemic, the last year has not been the most fun time to work in oil and gas. So many planned investments or projects were cancelled or put on hold. I started looking for jobs in the energy transition space, preferably in renewables or clean energy. I wanted to find a smaller, more nimble company, that was able to make decisions and move quickly, and that was in growth mode. I found the 547 Energy opportunity through a recruiter and it was exactly what I was looking for when I decided that I was ready to move on from ExxonMobil.
The Lawbook: How did your tenures at ExxonMobil and Skadden prepare you for this opportunity?
Wiley: 547 Energy has a global footprint and is actively investing in and developing renewable energy projects throughout the world. I have a strong background in international project development, project finance and M&A from my time at ExxonMobil and Skadden, so the move really was a perfect fit experience-wise.
The Lawbook: What are one or two deals that you handled during your time at Exxon that stand out and why?
Wiley: One of the most exciting deals I worked on at ExxonMobil was the $2.5 billion acquisition of InterOil Corporation. It was a truly international deal. InterOil was incorporated in the Yukon in Canada, listed on the NYSE, headquartered in Singapore, with operations primarily in Papua New Guinea. The deal was particularly exciting because we beat out a competing bid by Oil Search Limited, which had entered into a prior deal to buy InterOil.
The Lawbook: What about from your time at Skadden?
Wiley: I represented ExxonMobil in its $3.2 billion global strategic partnership with Rosneft Oil Company, a first-of-its-kind transaction, which involved establishing the legal framework for the two companies to conduct joint oil and gas exploration, development and production activities in Russia and various countries throughout the world. The relationships I built while working on this transaction ultimately led me to move to Houston to work for ExxonMobil.
The Lawbook: What are the important considerations for you when hiring outside counsel?
Wiley: Expertise, personability and responsiveness are all equally important considerations for me when hiring outside counsel.
The Lawbook: Do you have a “go-to” list of outside counsel?
Wiley: I did a lot of work with Skadden, Latham & Watkins and Davis Polk during my time at ExxonMobil.
The Lawbook: What kinds of matters/issues are keeping you up at night?
Wiley: I am used to working at large companies with lots of processes and procedures. It is both intimidating and exciting to be at a company that is so new and growing so quickly.
The Lawbook: What are your goals as GC of 547 Energy?
Wiley: I am excited about the opportunity to help build something. It is hard to really move the needle with anything you do at a place as large as ExxonMobil, but here I have the ability to really influence decisions and see the tangible results of those decisions.
The Lawbook: What kinds of investment opportunities is 547 Energy interested in?
Wiley: 547 Energy is focused on cleantech, renewable power, mobility, energy efficiency and infrastructure, grid resilience and digitization of the energy sector.