Stephen M. Boone Jr.

Partner

Areas of Focus

Stephen M. Boone Jr.

Partner

sboone@akingump.com

Areas of Focus

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Biography
  • Leader of the firm’s U.S. oil & gas practice.
  • Board Certified in Oil, Gas and Mineral Law by the Texas Board of Legal Specialization.
  • Practice focuses on oil & gas matters, including mergers and acquisitions, joint ventures and other energy, finance and project development matters across the entire value chain.

Stephen is the leader of the firm’s U.S. oil & gas practice. He advises a broad range of public and private companies and investment funds, including developers, exploration and production (E&P) companies, midstream companies, private equity funds, purchasers and sellers on all aspects of energy transactions and agreements, including:

  • Upstream and midstream asset acquisitions and divestitures
  • Asset construction, development, operational and commercial matters
  • Mergers and acquisitions
  • Farmouts, farmins, joint ventures and other investments
  • Oil & gas marketing arrangements
  • Financings
  • Litigation and disputes.

Prior to entering the legal field, Stephen worked for a major engineering and construction firm in its petrochemical projects area, including on-site at one of the largest oil refineries in the United States.

Representative Work
  • Represented a private equity-backed company in the negotiation of a “drillco” partnership with outside capital, including the acquisition of related upstream oil and gas assets.
  • Assisted a public oil & gas company in the sale of saltwater disposal assets.
  • Represented a private upstream company in the negotiation of a broad joint development and area of mutual interest arrangement.
  • Counseled a private equity-backed company in the negotiation of gas gathering, processing and sale agreements.
  • Represented a private equity-backed company in the negotiation of various surface, midstream, disposal and other commercial arrangements in advance of sale.
  • Counseled a private equity manager in the acquisition of strategic nonoperated oil and gas assets and related finance matters.
  • Represented a private equity-backed midstream company in negotiating various construction and installation contracts.
  • Represented Diamondback Energy Inc. and Rattler Midstream LP in the sale of multiple gas gathering systems and related subsidiaries.
  • Assisted a midstream company with comprehensive settlement and negotiation of amended crude, gas and water gathering, transportation and processing agreements in the midst of counterparty’s restructuring.
  • Advised a company on the acquisition of a development site for a commercial project.
  • Represented a private equity-backed company with its wellbore acquisition program from a global E&P company.
  • Represented a private equity-backed upstream company with the negotiation of gathering and midstream arrangements.
  • Assisted on various complex upstream and midstream reorganizations and restructurings, including acquisition and divestiture, commercial, operational and litigation support.
  • Assisted a private equity fund with its dissolution and negotiated distributions and related upstream oil & gas matters.
  • Advised Diamondback Energy Inc. in connection with its $620 million “drillco” transaction with an affiliate of The Carlyle Group.
  • Represented a private equity fund sponsor in the sale of a domestic wind farm company.
  • Advised Sanchez Energy Corporation with the restructuring of a midstream natural gas joint venture with Targa Resources, advising on commercial, processing, dedication and other critical upstream and midstream issues.
  • Advised Diamondback Energy Inc. in connection with its $9.2 billion all-stock merger with Energen Corporation.
  • Represented Sanchez Energy Corporation in a joint development agreement with Blackstone Group LP in connection with a $2.3 billion acquisition of Eagle Ford Shale assets from Anadarko Petroleum Corporation.
  • Advised Diamondback Energy Inc. in a $212.5 million acquisition in the Permian Basin from ExL Petroleum Management, LLC, et al.
  • Counseled Diamondback Energy, Inc. in a $2.43 billion acquisition of Delaware Basin assets from Brigham Resources Operating, LLC and Brigham Resources Midstream, LLC.
  • Advised a large, publicly traded midstream master limited partnership (MLP) in negotiating a joint venture transaction.
  • Acted for a publicly traded oil & gas company in various mineral interest acquisitions.
  • Advised a publicly traded midstream MLP with operational matters.
  • Represented a private equity company in connection with the acquisition of operated upstream properties.

Education
  • J.D., Baylor University School of Law, cum laude, 2010

  • B.B.A., Saint Edward's University, summa cum laude, 2006

Bar Admissions
  • Texas

Recognitions
  • The Legal 500 US, Energy Transactions: oil and gas, 2023.
  • Euromoney Expert Guides: Rising Stars 2020, United States – Energy and natural resources, 2020.
  • Recognized as a Texas Rising Star by Super Lawyers, 2017-2020.
Affiliations and Public Service
  • Member, Oil, Gas and Mineral Law Section, Houston Bar Association.
Speeches and Publications
  • “The Anatomy of Oil & Gas Purchase and Sale Agreements,” Akin Gump Houston’s Deal Maker’s Boot Camp, November 29, 2018.

Insights and Achievements

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