George E. "Ned" Crady Partner Ned Crady is a preeminent dealmaker who has represented energy companies and strategic investors in complex transactions for nearly three decades. Clients turn to Ned to guide them through high-stakes acquisitions, divestitures, project development and financing, joint venture planning, and corporate governance matters in the energy space.
Ned has facilitated numerous energy deals, including billion-dollar acquisitions, divestitures of business units, project development and capital raises. His practice also encompasses advising clients on the purchase, transport, storage, tolling and sale of various energy commodities including natural gas, LNG, crude oil, chemicals, and bio-fuels. Ned leverages deep industry knowledge to negotiate and structure these intricate transactions while proactively mitigating risks.
Ned has previously worked for several large international law firms as well as served as in-house counsel for a global energy company, allowing him to acutely understand the commercial drivers, operational factors and regulatory landscape impacting energy deals. Most recently, he spent the last three years as General Counsel of a private equity-backed renewable fuels company developing a plant that converts biomass into renewable syngas, and syngas into green methanol.
In addition to his energy practice, Ned routinely counsels U.S. and international companies on cross-border transactions, joint ventures, commercial contracts and compliance matters. He has handled matters in Argentina, the Bahamas, Bolivia, Brazil, Canada, Chile, Colombia, Cyprus, Dominican Republic, El Salvador, Guatemala, Honduras, India, Jamaica, Kenya, Mexico, Nicaragua, Panama, Peru, Puerto Rico, Spain, Trinidad, Uruguay and Venezuela.
Representative Experience Oil & Gas, LNG and Related Infrastructure
- Represented a public master limited partnership in the acquisition of a 515 mile crude oil gathering system in the Permian Basin for $1.2 billion.
- Represented IFM Investors in the diligence and closing of its $10 Billion acquisition of the pipeline and terminal assets of Buckeye Partners.
- Represented a private equity backed pipeline developer in the development and joint venture planning relating to a 177 mile natural gas pipeline in the Marcellus region involving a $746 million equity investment by a consortium of public company and private equity backed investors.
- Represented Gas Natural Aprovisionamientos, SDG, S.A in the negotiation of an LNG purchase and sale agreement for the purchase of approximately 3.5 million tons per annum of LNG for a minimum of 20 years from the Sabine Pass liquefaction export facility.
- Represented a private equity backed midstream company in the development of a $300 million midstream gathering system in the Bakken Basin and in the negotiation of related gathering and processing agreements.
- Represented Gulf LNG Energy in the development, construction and financing of a 1.5 Bcf LNG import terminal in Pascagoula, Mississippi.
- Represented a private equity backed midstream developer in the negotiation of a long term natural gas transportation contract and hub services agreement in connection with the development of a new natural gas pipeline in the Trans Pecos region of Texas, which now comprises a 450-mile, 42 inch intrastate pipeline.
- Represented a public master limited partnership in the acquisition of Felix Midstream for $300 million.
- Represented a major international energy company in the development, construction, financing and joint venture planning relating to a $418 million extraction, fractionation, refrigeration, storage and injection facility in Jose, Venezuela.
- Represented a private equity investor in the development of the 13.5 Bcf Bobcat natural gas storage facility in Port Barre, Louisiana.
- Represented a pipeline developer in a proposed joint venture relating to a 50-mile natural gas pipeline in the Marcellus region and related open season and transportation agreements.
- Represented Pinto Realty Partners in the negotiation of a joint venture agreement to develop a 988 acre liquids storage and export terminal on the Houston ship channel with marine, pipeline and rail access.
- Represented a private equity fund in the purchase of Falcon Gas Storage Company, owner and operator of 20 Bcf of natural gas reservoir storage facilities in north Texas and 60 Bcf of proposed natural gas salt cavern storage facilities offshore Mobile, Alabama.
- Represented a major international energy company in the purchase of an equity interest in a 4104 mile pipeline in Argentina for $220 million.
- Represented a consortium of international energy companies in the purchase of Gas Natural de Lima y Callao S.A., a natural gas distribution company in Lima, Peru.
- Represented a major international energy company in the acquisition of an equity interest in the Gulf LNG terminal in Pascagoula, Mississippi with a 1.5 Bcf/day send out capacity.
- Represented a private equity backed international energy company purchase the Argentina drilling operation unit of Key Energy Services.
- Represented a major international energy company in the sale of its interest in Vengas S.A., an LPG distribution company in Venezuela, to PDVSA Gas S.A.
- Represented a major international energy company in the purchase of an equity interest in Centragas, a 350 mile pipeline in Colombia, for $50 million, and related joint venture planning with its partner.
- Represented a major international energy company in the sale of a development project consisting of an LNG import terminal in Freeport Grand Bahama and related natural gas export pipeline to Port Everglades, Florida, for $36 million.
- Represented a major international energy company in the purchase and subsequent sale of a large LPG and industrial gas business in Jamaica.
- Represented a major international energy company in the development of a proposed $600 million Bahamas LNG import terminal and associated natural gas export pipeline, transporting 832 million BTU of natural gas per day from Freeport, Grand Bahama to Port Everglades, Florida, and subsequent sale of the project to an international energy company for $36 million.
- Represented Pinto Energy Partners in a proposed 3 Bcf salt cavern storage project to be connected to the Stratton Ridge Storage Facility in Brazoria County, Texas.
- Represented a private equity fund in the formation of an oil and gas exploration company and backing of its management team to explore for hydrocarbons in the Bakken Basin.
- Represented a private equity fund in the formation of an oil and gas exploration company and backing of its management team to explore for hydrocarbons in the Permian Basin.
- Represented a U.S. pipeline construction and maintenance company in a private equity backed recapitalization of the company.
- Represented an LNG Shipper/Bidder with respect to the open season for storage and throughput capacity at the Elba Island LNG terminal.
- Represented an LNG Shipper/Bidder with respect to the open season for storage and throughput capacity at Cove Point LNG terminal.
- Represented the owner of tolling rights to a United States LNG import terminal in the sub-contracting of such tolling rights to a third party user.
- Represented various purchasers with respect to the purchase and sale of LNG for delivery into Europe and the United States.
- Represented a developer of a multi-user floating, storage, regasification terminal for the Indian market.
- Represented a shipper in the negotiation of a natural gas transportation and purchase agreement from the AES Andres Facility in the Dominican Republic for fuel supply of its power plant.
Power Experience
- Represented a major international energy company in the development, construction and financing of a 507MW power plant and LNG import terminal in Penuelas, Puerto Rico, and sale of electricity under a power purchase agreement to the power purchaser, the Puerto Rico Electric Power Authority.
- Represented a major international energy company in the purchase of an equity interest in Chilquinta Energia S.A., an electrical distribution company in Chile, and Luz del Sur S.A., an electrical distribution company in Peru, for $685 million.
- Represented a private equity backed international energy company purchase two regulated electric distribution companies in Argentina from AES.
- Represented a strategic investor in the restructuring of a 700MW power plant located in Granbury, Texas.
- Represented a major international energy company in the purchase of an equity interest in Del Sur, an El Salvador electrical distribution company, for $180 million.
- Represented an international investment fund in the acquisition of an equity interest in numerous power generation facilities in the Dominican Republic and procurement of related non-recourse acquisition financing.
- Represented a project developer in the purchase of a 315MW fuel oil fired power generation facility located in the United States, and the proposed conversion of such facility to a bio-mass power generation and bio-diesel production facility.
- Represented a consortium in the purchase and refinancing of a 300MW power plant in the Dominican Republic.
- Represented a major international energy company in the development construction and financing of a 185MW power plant in the Dominican Republic, and the sale of electricity under a power purchase agreement to the power purchaser.
- Represented a major international energy company in the development, construction and financing of a 110MW power plant in Guatemala, and the sale of electricity under a power purchase agreement to the power purchaser.
- Represented a major international energy company in the sale of its equity interest in the Bahia Las Minas power generation project in Panama.
- Represented a major international energy company in the sale of an equity interest in a 112MW power project in the Dominican Republic.
- Represented a major international energy company in the purchase of an equity interest in a 63MW power generation company in Jamaica.
- Represented a major international energy company in the sale of a minority equity interest in a 300MW power plant in the Dominican Republic.
- Represented various owners of foreign power plants in the procurement of long term fuel oil supply agreements.
Financing & Restructuring
- Represented a consortium member in the $200 million OPIC financing of the ACCRO III & IV natural gas refinery project in Jose, Venezuela.
- Represented a consortium member in the $132 million Ex-lm financing of the ACCRO III & IV natural gas refinery project in Jose, Venezuela.
- Represented a consortium in the refinancing of a $140 million IDB Credit Facility and loan work out with other multi-lateral and private lenders relating to a $200 million non-recourse facility for a power generation project in Latin America.
- Represented a consortium member in the restructure of $153 million in IFC syndicated loans to a 185MW IPP in the Dominican Republic.
- Represented a consortium member in the restructure of $71 million in IFC syndicated loans to a 110 MW IPP in Guatemala.
- Represented OPIC in financing a solar power generation facility in El Salvador.
- Represented a consortium member in the $195 million VPP financing of oil and gas reserves, involving a credit enhancement in the form of a third party financial guaranty policy issued by a reinsurer.
- Represented a large hedge fund in a bid pursuant to a Section 363 bankruptcy auction to acquire Prisma Energy International, an energy infrastructure holding company with assets in Europe, Asia and Latin America in excess of $2 billion.
- Represented a major international energy company in the Section 363 bankruptcy auction and sale of its equity interest in EcoElectrica, L.P., a 507MW power plant and LNG import terminal in Penuelas, Puerto Rico for $185 million.
- Represented Torch Offshore, Inc. and debtor affiliates in the Section 363 bankruptcy auction and sale of ten marine vessels for approximately $100 million.
- Represented Bigler, LP and debtor affiliates in several Section 363 bankruptcy auction and sales of assets along the Houston Ship Channel including land, petrochemical plant, liquids terminal, and commodity trading businesses in excess of $70 million.
Organizational Involvement
- Association of International Petroleum Negotiators
- Texas Bar Foundation, Fellow
- Houston Bar Foundation, Fellow
- Energy Bar Association
- Houston Bar Association
- American Bar Association
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