Overview

Dale Smith is a partner in Mayer Brown's Houston office and a member of the Corporate & Securities and Finance & Banking practices. He focuses on finance, energy and real estate matters. A member of the electric and gas utility industry for more than a decade, Dale now uses that knowledge when helping clients navigate through their corporate needs. His finance and banking experience includes representing both lending institutions and borrowers in all types of secured and unsecured credit transactions, including syndicated and structured finance transactions, project finance, letter of credit, working capital, ABL, exploration and production reserve base facilities, workouts and restructurings and DIP and bankruptcy exit financings.

Dale represents energy industry clients in a broad range of transactions, including the purchase and sale of hydrocarbons, oil and gas properties, gas processing plants, production and storage facilities and pipeline systems, as well as negotiating and drafting many types of transactional agreements across the entire energy spectrum including leases; farmout and participation agreements; seismic and license agreements; drilling and other service contracts; development and operating agreements; gas, crude and natural gas liquid gathering, transportation, processing, storage and fractionation agreements; produced water gathering and disposal agreements; non-potable and treated water service agreements; power purchase agreements; off-take agreements; engineering, procurement and construction contracts; and operation and maintenance agreements. Dale has substantial experience performing mineral reserve due diligence reviews for clients investing in exploration and production assets.

Dale’s real estate practice focuses on transactions involving the acquisition, development, operation, leasing, management and disposition of real property, including advising developers with respect to surface and building leases for telecommunications facilities and equipment.


Experience

  • Represented Enterprise Products Operating L.P., one of the largest midstream natural gas and crude oil pipeline companies in North America, in $6.5 billion of total bank credit facilities.
  • Represented Holly Energy Partners, L.P. in the formation of a joint venture with Plains All American Pipeline, L.P. to own and operate a crude oil terminal in Cushing, Oklahoma and construct, own and operate a crude oil pipeline from Cushing to Tulsa, Oklahoma.
  • Represented COG Operating LLC in the contribution of 13 saltwater disposal wells and approximately 40 miles of large-diameter produced water gathering pipelines to Solaris Water Midstream, LLC in exchange for cash and equity in Solaris Midstream Holdings, LLC.
  • Represented Sabalo Energy, LLC in the divestiture of produced water gathering and recycling infrastructure assets in the Midland Basin to H2O Midstream LLC, including negotiation of long-term produced water gathering, disposal and recycling agreements.
  • Represented Halcón Resources Corporation in the $325 million divestiture of water infrastructure assets across the Delaware Basin to a subsidiary of WaterBridge Resources LLC.
  • Represented Phillips 66 Partners LP in joint venture construction and operating agreements with Andeavor and an equity option with Canadian midstream company Enbridge Inc. in relation to the Gray Oak Pipeline, and in a joint venture with Buckeye Partners LP to develop the new South Texas Gateway Terminal at the mouth of Corpus Christi Bay.
  • Represented Apache Corporation in the formation of SCM Alpine, LLC, to own and operate a greenfield NGL y-grade pipeline, including transportation service agreements, tariffs and related regulatory matters.
  • Represented a major midstream MLP in ethylene, propylene, propane and butane Transportation Services Agreements, Product Storage Agreements, Pipeline and Terminal Connection Agreements and Y-grade for purity product exchange agreements.
  • Represented Rose Rock Midstream, an affiliate of Semgroup, in a Terminal Services Agreement with Suncor.
  • Represent a major midstream MLP as finance counsel in connection with its $3.5 billion syndicated revolving credit facilities.
  • Represented a major US bank as agent with respect to a 21-bank syndicated secured $750 million revolving credit facility to an oil and gas exploration and production company.
  • Represented a lender in a $15.9 million secured loan agreement to a pipeline company to acquire and construct natural gas assets to serve residential customers in the City of Houston.
  • Represented an energy financial services firm in project finance loans to developers of solar and wind electric generation facilities plants located in New Jersey, Georgia and Texas, and a $50 million letter of credit facility backstop for an electric generation company's environmental remediation obligations.
  • Represented a major midstream MLP in the $2.15 billion purchase of natural gas and crude oil gathering, treating, compression and condensate processing services in the Eagle Ford Shale basin, including the negotiation and drafting of dedicated natural gas processing and transportation, natural gas liquids transportation and fractionation, processed condensate and crude oil transportation service, and export dock sales agreements.
  • Represented an international commodities trading company in the acquisition of over $1 billion of mineral interests and related midstream assets located in East Texas.
  • Represented a portfolio company of a private equity sponsor in a greenfield 75-mile interstate crude pipeline in the Permian basin, including acquiring right-of-way, regulatory filings and tariffs and the negotiation of anchor shipper agreements, interconnection agreements, terminal and storage agreements, and several gathering and transportation service agreements with crude producers and refineries.
  • Represented a midstream operator in the negotiation and drafting of several gas purchase contracts with major and independent oil and gas producers in the Permian basin.
  • Represented an independent oil and gas company and equity sponsor in the negotiation and drafting of several rich and lean gas gathering and processing agreements in North Louisiana and East Texas.
  • Represented a national telecommunications provider in the negotiation of several surface and roof-top cellular equipment lease agreements throughout Texas and Louisiana.
  • Represented a Texas electric generation company in the negotiation of engineering, procurement and construction contracts for several of its fossil fuel plants.
  • Served as project counsel for the Plum Point Energy Station, a 665-megawatt pulverized coal plant located in Osceola County, Arkansas.

Education

Loyola University New Orleans College of Law, JD, magna cum laude

The University of New Orleans, BS

The University of New Orleans, MBA

Admissions

  • Texas
  • Louisiana
  • Florida

Activities

  • Institute for Energy Law Advisory Board
  • State Bar of Texas Oil, Gas and Mineral Law Section
  • Houston Bar Association
  • Houston and American Association of Professional Landmen
  • Association for Corporate Growth
  • Houston Producers Forum
  • Independent Petroleum Association of America
  • Best Lawyers, Banking and Finance Law, 2013 - 2020
  • Euromoney Institutional Investor PLC, IFLR1000 Financial & Corporate Guide 2018 - 2020
  • The Legal 500 United States Commercial Lending: Advice to Borrowers, 2018; Commercial Lending: Advice to Lenders, 2018