Steve Davis retired from the partnership on December 31, 2021 and transitioned to Partner Emeritus. He is the former co-head of the firm’s energy team. Steve focused his practice on mergers and acquisitions, joint ventures, foreign direct investment, private equity and venture capital, project finance and development, and restructurings and reorganizations across the entire traditional and renewable energy value chain.

Steve represented sponsors, developers and project companies; commodity traders; LNG and midstream companies; sellers and buyers; financial institutions; and private equity investors. He spent more than six years in the Asia-Pacific region, working on matters from Australia to South Korea and from India to the Philippines. His work spanned six continents.

Steve handled energy transactions involving:

Oil and gas
Liquefied natural gas (LNG)
Midstream
Pipeline
Processing
Refining
Petrochemical
Renewables
Power
Energy transition

The Best Lawyers in America ranked Steve in its Energy Law, Corporate Law and International Trade and Finance Law categories from 2005-2022 and named him as its Houston Energy Law 2013 “Lawyer of the Year.” Steve was also recognized by Who’s Who Legal: Energy from 2014-2022, Who’s Who Legal: Project Finance from 2018-2021, as a Notable Practitioner in M&A and Project Finance by IFLR 1000 in 2019 and as one of the Top 30 energy and natural resources lawyers in the United States in 2020 by “Best of the Best USA,” published by Euromoney’s Expert Guides.

Representative Work

Represented one of the world’s largest independent commodity traders in connection with a variety of long-term product supply and offtake arrangements, terminaling agreements and other commodity trading matters.
Advised SK E&S Ltd., a Korean conglomerate, in connection with its contract to acquire capacity in Train 3 of the Freeport LNG export project, including related regulatory, international trade and DOE matters, and a “shale joint venture” involving acquisition of interests in U.S. oil and gas properties on a “cash and carry” basis.
Represented India’s largest natural gas company, GAIL (India) Limited, in connection with its acquisition of capacity in Dominion’s Cove Point LNG export project and related regulatory, pipeline and gas supply matters, including extensive analysis of DOE non-FTA export authorization matters.
Represented one of the largest U.S. midstream companies in connection with several joint ventures and the development of new natural gas, natural gas liquids (NGLs), and crude oil pipelines and other infrastructure.
Counseled a large private equity fund in connection with its investment in and the further development of a proposed propane dehydrogenation (PDH) facility to be built on the U.S. Gulf Coast, including propane supply, propylene off-take, EPC contract, site and real estate, equity investment and project financing matters.

Represented the developer in connection with a large-scale wind power project to be sited in the Middle East.
Represented a creditor group in the bankruptcy and restructuring of one of the world’s largest offshore drilling companies.
Represented a creditor group in connection with the restructuring and proposed sale of a Caribbean refinery.
Represented a creditor group in the bankruptcy and restructuring of a large independent exploration and production company with E&P assets in the Gulf of Mexico and Angola.
Advised Chevron Phillips Chemical Company in connection with the formation of Americas Styrenics LLC, a joint venture involving styrene and polystyrene facilities located in Brazil, Columbia and the United States, including negotiation of numerous related long-term supply and sales contracts, both for feedback and as product sales.
Served as counsel to a large independent commodity trader and a large Asian chemical and trading company in connection with large U.S. Gulf Coast LPG export projects, including numerous long-term propane, butane and natural gasoline supply and sales contracts, as well as related transportation, storage and terminaling agreements.
Represented a solar power project developer in connection with a proposed joint venture with a major equipment manufacturer to deploy hybrid diesel/solar powered generators in emerging and island markets in Africa and Asia.
Represented an international energy company in its acquisition of various pipeline and terminaling assets in Mexico as well as related ongoing commercial and project agreements.
Represented Sinopec International Petroleum Exploration and Production Company (Sinopec) in connection with its agreement with Repsol Brasil to subscribe for new shares comprising 40 percent of the share capital of Repsol Brasil for an aggregate base consideration of $7.1 billion and related shareholder, subscription and diligence matters.
Represented Chevron Phillips Chemical Company in connection with the development and project financing of world-scale petrochemical facilities in Qatar and Saudi Arabia.
Served as counsel to a U.S. independent oil and gas company in connection with its proposed sale of an interest in Canadian oil and gas assets for a purchase price of approximately U.S. $2 billion.
Advised an Asian company in connection with a joint venture to develop LPG (propane, butane) export facilities on the U.S. Gulf Coast.
Counseled the project company in connection with the development of a proposed project to bring U.S. natural gas supplies by pipeline to Mexico and to build a floating LNG liquefaction facility to export LNG.
Represented a consortium of companies in the $1.2 billion Corridor Project, the development and project financing of several large natural gas fields and gas pipeline and processing facilities in Sumatra, Indonesia. Gas will be transported via a newly constructed 540 km pipeline and a portion of it exchanged for up to 60,000 barrels per day of crude oil, which will be exported and sold for hard currency to a large trading company. This Corridor Block Gas Project was named “Deal of the Year” for Indonesia in Project & Trade Finance and “Deal of the Year” for Asia/Pacific in Project Finance International's Yearbook The project was later extended to include a cross-border pipeline from Indonesia to Singapore.
Advised the developer in connection with development of a proposed natural gas pipeline from Canada to the United States and back to Canada and of an LNG liquefaction project to export LNG.
Counseled a large independent refiner in connection with its bid to acquire a large refinery located on the U.S. Gulf Coast.
Represented a prominent private equity firm in connection with its bid to acquire a California refinery and related retail marketing assets.
Served as counsel to a leading U.S. financial institution in connection with a joint venture with an Asian state-owned company to pursue acquisitions of U.S. oil and gas properties.
Advised the seller in the U.S. $350 million sale of a Cayman Islands subsidiary that held producing oil and gas properties offshore India.
Counseled a leading U.S. private equity investor in connection with its acquisition of an interest in a Brazilian platform company pursuing E&P investments.
Counseled an international refining and marketing company in connection with the sale of its interest in a Southeast Asian refinery.
Served as counsel to Neste Oy, a Finnish oil and chemical company, in connection with a U.S. $2.5 billion European-based international petrochemical joint venture involving 20 countries (at the time, the largest industrial merger in Scandinavia).
Advised an international petrochemical company in the sale of one of its business lines, which required complex structuring to carve out the relevant assets from a series of large, integrated facilities.
Represented a U.S. chemical company in connection with its proposed purchase from a large Norwegian company of a group of companies and related petrochemical facilities in several European countries.
Counseled an international E&P company in obtaining financing from JOGMEC (Japan Oil, Gas and Metals National Corporation) in connection with the development of a U.S. oil and gas project.
Advised a U.S. joint venture entity in connection with analysis of the implications of the spinoff of Phillips 66 by ConocoPhillips Company.
Represented an Asian energy company in connection with its bid to acquire interests in Nigerian oil mining leases and the related purchase and sale agreement.
Advised on matters relating to an acquisition of interests in troubled Philippine power companies from a troubled Singapore company and related restructuring issues.
Advised on matters related to the acquisitions of interests in power plants in Thailand, Indonesia, and the Philippines.
Counseled a Middle East investment group in its purchases of several drilling rigs from the Gulf of Mexico and their relocation to Southeast Asia for rehabilitation and repurposing.
Represented a clean water technology and equipment company on transactions to raise funding for the further expansion of its business providing technology and equipment to treat flowback water from hydraulic fracturing of shale gas wells.

* List includes both Akin Gump matters and previous experience.

Represented the developer in connection with a large-scale wind power project to be sited in the Middle East.
Represented a creditor group in the bankruptcy and restructuring of one of the world’s largest offshore drilling companies.
Represented a creditor group in connection with the restructuring and proposed sale of a Caribbean refinery.
Represented a creditor group in the bankruptcy and restructuring of a large independent exploration and production company with E&P assets in the Gulf of Mexico and Angola.
Advised Chevron Phillips Chemical Company in connection with the formation of Americas Styrenics LLC, a joint venture involving styrene and polystyrene facilities located in Brazil, Columbia and the United States, including negotiation of numerous related long-term supply and sales contracts, both for feedback and as product sales.
Served as counsel to a large independent commodity trader and a large Asian chemical and trading company in connection with large U.S. Gulf Coast LPG export projects, including numerous long-term propane, butane and natural gasoline supply and sales contracts, as well as related transportation, storage and terminaling agreements.
Represented a solar power project developer in connection with a proposed joint venture with a major equipment manufacturer to deploy hybrid diesel/solar powered generators in emerging and island markets in Africa and Asia.
Represented an international energy company in its acquisition of various pipeline and terminaling assets in Mexico as well as related ongoing commercial and project agreements.
Represented Sinopec International Petroleum Exploration and Production Company (Sinopec) in connection with its agreement with Repsol Brasil to subscribe for new shares comprising 40 percent of the share capital of Repsol Brasil for an aggregate base consideration of $7.1 billion and related shareholder, subscription and diligence matters.
Represented Chevron Phillips Chemical Company in connection with the development and project financing of world-scale petrochemical facilities in Qatar and Saudi Arabia.
Served as counsel to a U.S. independent oil and gas company in connection with its proposed sale of an interest in Canadian oil and gas assets for a purchase price of approximately U.S. $2 billion.
Advised an Asian company in connection with a joint venture to develop LPG (propane, butane) export facilities on the U.S. Gulf Coast.
Counseled the project company in connection with the development of a proposed project to bring U.S. natural gas supplies by pipeline to Mexico and to build a floating LNG liquefaction facility to export LNG.
Represented a consortium of companies in the $1.2 billion Corridor Project, the development and project financing of several large natural gas fields and gas pipeline and processing facilities in Sumatra, Indonesia. Gas will be transported via a newly constructed 540 km pipeline and a portion of it exchanged for up to 60,000 barrels per day of crude oil, which will be exported and sold for hard currency to a large trading company. This Corridor Block Gas Project was named “Deal of the Year” for Indonesia in Project & Trade Finance and “Deal of the Year” for Asia/Pacific in Project Finance International's Yearbook The project was later extended to include a cross-border pipeline from Indonesia to Singapore.
Advised the developer in connection with development of a proposed natural gas pipeline from Canada to the United States and back to Canada and of an LNG liquefaction project to export LNG.
Counseled a large independent refiner in connection with its bid to acquire a large refinery located on the U.S. Gulf Coast.
Represented a prominent private equity firm in connection with its bid to acquire a California refinery and related retail marketing assets.
Served as counsel to a leading U.S. financial institution in connection with a joint venture with an Asian state-owned company to pursue acquisitions of U.S. oil and gas properties.
Advised the seller in the U.S. $350 million sale of a Cayman Islands subsidiary that held producing oil and gas properties offshore India.
Counseled a leading U.S. private equity investor in connection with its acquisition of an interest in a Brazilian platform company pursuing E&P investments.
Counseled an international refining and marketing company in connection with the sale of its interest in a Southeast Asian refinery.
Served as counsel to Neste Oy, a Finnish oil and chemical company, in connection with a U.S. $2.5 billion European-based international petrochemical joint venture involving 20 countries (at the time, the largest industrial merger in Scandinavia).
Advised an international petrochemical company in the sale of one of its business lines, which required complex structuring to carve out the relevant assets from a series of large, integrated facilities.
Represented a U.S. chemical company in connection with its proposed purchase from a large Norwegian company of a group of companies and related petrochemical facilities in several European countries.
Counseled an international E&P company in obtaining financing from JOGMEC (Japan Oil, Gas and Metals National Corporation) in connection with the development of a U.S. oil and gas project.
Advised a U.S. joint venture entity in connection with analysis of the implications of the spinoff of Phillips 66 by ConocoPhillips Company.
Represented an Asian energy company in connection with its bid to acquire interests in Nigerian oil mining leases and the related purchase and sale agreement.
Advised on matters relating to an acquisition of interests in troubled Philippine power companies from a troubled Singapore company and related restructuring issues.
Advised on matters related to the acquisitions of interests in power plants in Thailand, Indonesia, and the Philippines.
Counseled a Middle East investment group in its purchases of several drilling rigs from the Gulf of Mexico and their relocation to Southeast Asia for rehabilitation and repurposing.
Represented a clean water technology and equipment company on transactions to raise funding for the further expansion of its business providing technology and equipment to treat flowback water from hydraulic fracturing of shale gas wells.

* List includes both Akin Gump matters and previous experience.

Education
J.D., University of Texas School of Law, with honors, 1981
B.S.Ch.E., Louisiana State University, with honors, 1979

Bar Admissions
Texas

Recognitions

The Best Lawyers in America, Energy Law, Corporate Law and International Trade and Finance Law, 2005-2022.
Who’s Who Legal: Energy, 2014-2022.
Who’s Who Legal: Project Finance, 2018-2021.
Euromoney Banking, Finance and Transactional Law Expert Guide, 2020.
IFLR1000, Notable Practitioners, 2020.
IFLR 1000, Notable Practitioner, M&A and Project Finance, 2019.
Acritas “Stars,” 2019.
The Legal 500 Latin America, 2018.
Expert Guide’s Best of the Best USA, Top 30 Lawyer in the USA, 2017, 2018 and 2020.
International Who’s Who of Project Finance Lawyers, 2013-2018.
Expert Guides’ Guide to the World’s Leading Energy Lawyers, 2013-2018.
Euromoney Expert Guide to the World’s Leading Energy and Natural Resource Lawyers, 1998-2018.
Lawyers Worldwide Award Magazine, Innovative Lawyer, 2017.
Houston Business Journal, Who’s Who in Energy, 2012-2017.
The Legal 500 US, Energy: Transactions, 2015.
The Best Lawyers in America, Houston Energy Law “Lawyer of the Year,” 2013.

Affiliations and Public Service

Past Member, Texas Supreme Court Task Force on the Practice of International Law.
Member, Association of International Petroleum Negotiators.
Member and past Chair, State Bar of Texas, International Law Section.

Speeches and Publications

“The Outlook for Global LNG: Mitigating Risk Today to Capitalize on Opportunities in a Post-Coronavirus World,” (Webinar with GaffneyCline, May 21, 2020).
Tumultuous Markets Part 2: Mitigating Risk in International Energy, Construction and Private Equity,” (Webinar, May 5, 2020).
“OPEC+ & COVID-19: Impact of Further Congressional Actions to Energy & Power Sectors with Akin: Impact to Power & Renewables Sector,” (Morgan Stanley webcast, April 23, 2020).
“OPEC+ & COVID-19: Impact of Further Congressional Actions to Energy & Power Sectors with Akin: Impact to Oil & Gas Sector,” (Morgan Stanley webcast, April 22, 2020).
“Mitigating Risk in a Tumultuous Energy Market: Force Majeure, Storage Constraints, Production Shut-ins, Deal Activity and Policy Responses,” (Webinar, April 21, 2020).
“OPEC+ Collapses & COVID-19: LNG Contacts and Force Majeure Risk,” (Morgan Stanley webcast, March 31, 2020).
“Energy Infrastructure: Impact on Deals & Projects,” Akin CLE, moderator, (Houston, TX, Oct. 3, 2018).
“Strategies to Survive or Thrive: New Thinking in Tackling the Current Commercial and Financial Issues Facing O&G Related Companies,” The Oil Council’s Asia Pacific Commercial and Legal Retreat, panelist, (Singapore, July 14, 2016).
“Construction and Major Projects in a Distressed Environment,” Akin CLE, presenter, (Houston, TX, April 13, 2016).
“The New Energy Paradigm: Investing and Operating in the Current Market,” Akin Briefing, panelist, (Houston, TX, Feb. 25, 2016).
“Midstream, G&P Contracts, MLPs, Taxes,” Credit Suisse Restructuring Mini-Conference, presenter, (Houston, TX, Feb. 1, 2016).
Corporate Roundtable audio conference, panelist, (Jan. 19, 2016).
“Navigating Lower Commodity Prices and Opportunities in the Oil & Gas Industry,” Akin Energy Symposium, presenter, (La Jolla, CA, Sept. 11, 2015).
“The Exploration & Production of an Oil & Gas Restructuring,” Akin CLE, panelist, (New York, NY, May 7, 2015).
“North American Energy Independence – Fact or Fiction,” River Oaks Breakfast Club, speaker, (Houston, TX, Oct. 22, 2014).
“The United States as an Energy Exporter,” Asian In-House Congress, presenter, (Hong Kong, Oct. 8, 2014).
IFLR Asia M&A Forum, “Opportunities in Natural Resources”, moderator, (Hong Kong, Feb. 25, 2014).