© 2015 The Texas Lawbook.
By Mark Curriden
(March 31) – Barry Smitherman has been an investment banker who specializes in the capital markets. He prosecuted domestic violence cases as a lawyer in the Harris County District Attorney’s office. He chaired the Texas Public Utility Commission and the state’s Railroad Commission.
In an era when law firms focus its lateral hiring to fill needs in narrow, specific specialty practices, V&E’s decision to bring Smitherman into its stable of 700 lawyers hearkens back to an age in which partners touted expertise across multiple legal disciplines.
“He’s so great because he can advise clients involved in litigation, regulatory and transactional matters,” V&E Chairman Mark Kelly said. “From his days in investment banking, Barry has a tremendous amount of contacts at private equity shops and CEOs at so many companies.
“As the chairman of the PUC and the Railroad Commission, he is one of the leading experts on energy regulatory matters and has been at the forefront on fracking-related science and developments,” Kelly said.
Smitherman, who will office in Austin, said he chose V&E because of its favorable reputation in the oil and gas sector.
“I think people should spend time in the public sector and in private practice,” he said.
Smitherman, who unsuccessfully ran for Texas Attorney General as a Republican last year, said he will not be able to represent clients with issues before the state Railroad Commission for two years because of state ethical rules. But he said that does not prohibit him from educating V&E lawyers and the public about state regulatory trends and issues.
“These are amazing times in energy because, until a few years ago, we were running out of crude oil in the U.S., and then along came fracking,” he said. “But this also brought with it many additional issues, including public safety and environmental concerns.”
One big issue, according to Smitherman, is the trend of local city and county governments implementing regulations that impact energy companies. He said cities and counties “definitely have an interest” in protecting their local residents, but states also have a need to look at the bigger picture.
“Everyone is looking for the right balance,” he said.
Under Smitherman’s leadership, the Railroad Commission executed a number of key initiatives, including the development of rules requiring disclosure of chemical ingredients and water volumes used to hydraulically fracture wells in Texas. He also led a successful effort by the agency to overhaul, for the first time in 30 years, its well construction requirements related to casing, cementing, drilling, well control and completions.
The RRC also created rules encouraging the recycling of hydraulic fracturing “flow-back fluids” and adopted disposal well rule amendments to address operations in areas of historical or future seismic activity.
Jim Thompson, the head of litigation at V&E in Houston, said Smitherman’s “deep understanding” of regulations in the upstream and midstream oil and gas business and in the electric and gas utility industries are a huge addition for the firm’s clients.
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