Angela T. Richards

ANGELA RICHARDS’ practice includes experience in various federal income tax matters with an emphasis on domestic business transaction planning. She has significant experience advising public and private companies, private equity funds and portfolio companies, and boards of directors and special committees of public companies on a wide range of transactions, including mergers and acquisitions, joint ventures, IPOs, Up-Cs, Special Purpose Acquisition Company (SPAC) transactions and other capital markets transactions, and has served as tax counsel to both issuers and underwriters in connection with numerous MLP initial public and follow-on offerings.

“Angela is renowned for midstream M&A deals and complicated partnership tax issues.”
Chambers USA 2025

Chambers USA has recognized Angela for her work in Tax (Texas, 2022–2025).

Recent representative matters in which Angela has advised clients include:

• USA Compression Partners, LP, in its US$860 million acquisition of J-W Power Company, a large privately held provider of compression services.
• Hennessy Capital Investment Corp. VII, a special purpose acquisition company, in its business combination with ONE Nuclear Energy, an independent developer of large-scale energy solutions.
• BKV Corporation in its US$500 million offering of senior notes.
• Cenovus in the US$1.4 billion sale of its interest in joint venture WRB Refining to its joint venture partner Phillips 66.
• Amberjack Capital Partners and its portfolio company, Entegra, in its sale to NDT Global.
• Ares Management Corporation in its US$1.1 billion acquisition of Meade Pipeline Co LLC.
• Oil and gas operator Presidio Investment Holdings in its estimated US$660 million business combination with EQV Ventures Acquisition Corp. (NYSE: EQV), a special purpose acquisition company, to form Presidio Production Company (pending).
• Stonepeak Infrastructure Partners in its equity commitment with Longview Infrastructure, a newly formed electric transmission development and investment platform.
• Stonepeak Infrastructure Partners in its definitive documentation with American Tower subsidiary CoreSite to form a joint venture to develop, construct, and operate a new 18 megawatt data center campus in Denver, Colorado, with CoreSite operating the data center.
• Stonepeak Infrastructure Partners in the sale of its portfolio company, WTG Midstream Holdings LLC – the largest private Permian gas gathering and processing business with assets located in the core of the Midland Basin – to Energy Transfer LP. for US$3.25 billion.
• NuStar Energy L.P. in connection with its offering of 14,950,000 common units for estimated gross proceeds of approximately US$229.5 million.
• Blue Ocean Acquisition Corp., a special purpose acquisition company, in its definitive agreement to merge with TNL Mediagene, a digital-media company formed in May 2023 by the merger of two large Asian media companies: Taipei-based The News Lens Co. (TNL) and Tokyo-based Mediagene Inc. (MG).
• Energy Transfer LP in its purchase of Lotus Midstream LLC (an affiliate of EnCap Flatrock Midstream) for approximately US$1.45 billion.
• Enbridge Inc. in an infrastructure development agreement with Divert Inc. to develop wasted-food-to-RNG projects across the U.S. for up to greater than US$1 billion of capital investments underpinned by long-term, take-or-pay contracts.
• GIC, OMERS Infrastructure, and Wren House, in their purchase of Direct ChassisLink, Inc. from funds managed by affiliates of Apollo Global Management and EQT.
• Stonepeak Infrastructure Partners in its US$2.5 billion investment into CoreSite, including a US$500 million add-on investment.
• Enbridge, Inc. in its transaction with Encap Flatrock Midstream to acquire Moda Midstream Operating, LLC, including North America’s largest crude export terminal, for US$3 billion.
• VoltaGrid in its acquisition from Pilot Company of substantially all of Pilot Company’s CNG compression, CNG virtual pipeline, and CNG logistics platform assets.
• I Squared Capital in the merger of EagleClaw Midstream into Altus Midstream, a public company subsidiary of Apache Corp.
• Stonepeak Infrastructure Partners in its acquisition of a majority interest in West Texas Gas.
• Key Capture Energy, LLC, a developer of large-scale energy storage projects, in an agreement to be acquired by SK E&S Co., Ltd.
• Western Midstream Partners, LP (NYSE: WES) in the offering by its subsidiary, Western Midstream Operating, LP, of an aggregate principal amount of US$750 million of its 6.150% Senior Notes due 2033.
• Games & Esports Experience Acquisition Corp. in its US$200 million initial public offering.
• Blue Ocean Acquisition Corp in its US$165 million initial public offering.
• NuStar Energy L.P. in the sale of eight storage terminal locations in the Northeast and Florida to Sunoco LP for US$250 million.
• Stonepeak Infrastructure Partners and Oryx Midstream Holdings LLC, a portfolio company of Stonepeak Infrastructure Partners, in a joint venture with Plains All American (Nasdaq: PAA and PAGP) of their respective Permian Basin assets, operations, and commercial activities.
• Initial purchasers in US$500 million 144A high yield debt offering by TapRock Resources, LLC.
• Legacy Reserves Inc. in connection with its restructuring of US$1.4 billion of indebtedness in the Bankruptcy Court for the Southern District of Texas and US$256 million of new capital from backstopped equity commitments and a rights offering.
• Pembina Pipeline Corporation in its US$2.3 billion acquisition of Kinder Morgan Canada Limited (TSX: KML).
• Pembina Pipeline Corporation in its US$2.05 billion acquisition of the U.S. portion of the Cochin Pipeline system from Kinder Morgan, Inc.
• NuStar Energy L.P. in connection with a public offering of US$1.2 billion aggregate principal of 5.750% senior notes due 2025 and 6.375% senior notes due 2030.
• Enbridge Inc. in the US$132 million purchase of crude storage assets from Blueknight Energy Partners.
• Texas Pacific Land Trust on its reorganization into Texas Pacific Land Corporation (NYSE: TPL), whose market capitalization was approximately US$6.2 billion prior to market opening on the date of the reorganization.
• The Conflicts Committee of the Board of Directors of the general partner of Andeavor Logistics LP in connection with MPLX LP’s US$9.4 billion acquisition of Andeavor Logistics LP.
• The acquirer in its US$1.438 billion acquisition of a 50% interest in a pipeline company.
• The Conflicts Committee of the Board of Directors of the general partner of Andeavor Logistics LP in connection with Andeavor Logistics LP’s US$1.55 billion acquisition of logistics assets from AndeavorRepresented an MLP in its merger with its NYSE-listed general partner.
• An MLP in its US$590 million private placement of Series D Cumulative Redeemable Preferred Units.
• The underwriters in connection with a US$400 million notes offering by an MLP issuer.
• The placement agent in a US$265 million private placement of Class C Units by an MLP issuer.
• An MLP in an aggregate US$3 billion offering of senior notes.
• An MLP in an aggregate US$2 billion offering of senior notes and a US$700 million offering of junior notes.

Prior to joining Sidley, Angela’s extensive experience in assisting clients includes the following representative matters:

• A private equity firm in connection with the US$2 billion merger of two of its sponsored MLPs.
• The underwriters to a midstream MLP in its US$391 million initial public offering of common units.
• An MLP in its US$281 million initial public offering of common units.
• A 50/50 sponsor of an MLP in the US$443 million initial public offering of the MLP.
• An MLP in its US$150 million offering of Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units.
• An MLP in its US$350 million offering of Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units.
• An MLP in its US$200 million offering of Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units.
• An MLP engaged in the operation of convenience stores and the wholesale distribution of fuel in connection with its acquisition of the remaining 68.42% membership interest in Sunoco, LLC and 100% interest in the legacy Sunoco retail business from Energy Transfer Partners, L.P. for approximately US$2.226 billion.
• An MLP engaged in the operation of convenience stores and the wholesale distribution of fuel in connection with its acquisition of Susser Holdings Corporation from Energy Transfer Partners, L.P. for approximately US$1.94 billion.
• An MLP engaged in the operation of convenience stores and the wholesale distribution of fuel in connection with its acquisition of a 31.58% membership interest in Sunoco LLC from Energy Transfer Partners, L.P. for approximately US$816 million.
• Underwriters in a US$183 million initial public offering of common units of an MLP engaged in wholesale fuel distribution and related businesses.
• An MLP in its US$4.41 billion acquisition of the general partner of Oiltanking Partners, L.P., and common and subordinated units of Oiltanking Partners, L.P. held by affiliates of the general partner.
• An MLP in its merger with Oiltanking Partners, L.P. 
• An MLP in its US$5.6 billion merger with TEPPCO Partners, L.P.
• The conflicts committee of the board of directors of the general partner of an MLP in connection with the US$12.3 billion purchase of transmission, storage, and liquids assets from Spectra Energy Corp.
• Special tax counsel to an MLP in connection with its US$50 billion merger with Access Midstream Partners LP.
• Special tax counsel to an MLP in connection with its merger with Williams Pipeline Partners L.P.
• Underwriters in the US$114 million initial public offering of common units in Arc Logistics Partners LP.
• A midstream MLP in its US$80 million initial public offering of common units.
• Rose Rock Midstream LP in its acquisition of a 33.3% interest in an entity that holds a 51% interest in White Cliffs Pipeline from SemGroup for US$274 million.
• Rose Rock Midstream LP in its US$181 million initial public offering of common units.
• Special U.S. tax counsel to a Canadian energy infrastructure company in its US$9.4 billion merger with another Canadian energy infrastructure company.
• Special U.S. tax counsel to a Canadian natural gas liquids infrastructure company in its US$3.16 billion merger with a Canadian energy infrastructure company. 
• Special U.S. tax counsel to a Canadian corporation on the merger of its oil and natural gas production business with a Calgary-based energy company.
• Special U.S. tax counsel to a Canadian income trust on its conversion to a corporation.
• Special U.S. tax counsel to a Canadian income trust in connection with the reorganization of the business of the trust’s subsidiaries into a public oil and gas services corporation.

Some of the above matters were handled prior to joining Sidley.