HERSCHEL HAMNER’s practice focuses on debt financings, including corporate lending transactions, leveraged acquisition financings, specialty financings and other debt investments. His practice centers on finance transactions in the energy industry, where he has extensive experience in the upstream, oilfield services, midstream and downstream sectors.
Herschel represents both lenders and borrowers in connection with secured and unsecured credit facilities and note purchase facilities, including cash flow loans, reserve-based lending transactions, asset-based lending transactions, unitranche financings, first lien/second lien transactions, mezzanine financings and bridge loans, as well as workouts and restructurings. On the lender side, he regularly counsels commercial banks in syndicated credit facilities and non-bank lenders in direct lending transactions. On the borrower side, he advises public companies, private equity funds, sponsor-backed portfolio companies and other privately held entities in a wide range of debt financings.
Herschel has been ranked for the past nine years (2012–2021) by Chambers USA: America’s Leading Lawyers for Business for Texas: Banking & Finance.
- JPMorgan Chase Bank, as administrative agent — prepetition asset-based loan facility in connection with the Chapter 11 bankruptcy filing of BJ Services, LLC and its affiliates
- AB Private Credit Investors LLC, as agent — $320 million term loan and revolving credit facilities for privately held exploration & production company with assets in Bakken shale
- JPMorgan Chase Bank, as administrative agent — $2.0 billion reserve-based senior secured revolving credit facility for Southwestern Energy Company
- Administrative agent — $1.38 billion senior revolving credit facility, $500 million senior secured term loan facility and $317 million 364-day senior secured second lien term loan facility for Weatherford International
- Private credit arm of premier global asset manager, as agent — senior secured credit facilities for acquisition by Comvest Partners of Engage2Excel
- Ares Capital Corporation, as administrative agent — $270 million senior secured term loan facility for Vista Proppants and Logistics, a frac sand company
- Energy-focused investment firm — $100 million second lien term loan facility for acquisition by DJR Energy LLC of Encana’s San Juan Basin assets located in northern New Mexico
- AB Private Credit Investors, as agent — $235 million senior secured term loan facilities for Caprock Midstream LLC to fund continued growth of Caprock’s Delaware Basin gathering and processing assets
- Various arrangers and administrative agents in reserve-based revolving credit facilities for exploration & production companies with assets in basins throughout United States
- JPMorgan Chase Bank, as administrative agent — $2.5 billion revolving credit facility for TechnipFMC plc in connection with the merger of Technip S.A. and FMC Technologies Inc.
- Arranger and sole initial lender — $60 million mezzanine term loan facility with delayed draw feature for privately held frac sand company
Borrower / Sponsor Representations:
- The Energy & Minerals Group (EMG) — $172.5 million senior secured term loan facility for EMG Utica, LLC
- Stonepeak Infrastructure Partners — $1.5 billion senior secured term loan B facility and separate senior secured revolving credit facility in connection with the purchase of Oryx Midstream Services
- Privately held refining company — complex refinancing transactions involving secured tax-exempt bond issuance, senior secured revolving credit facility and secured inventory monetization and intermediation facility
- LyondellBasell — $2.0 billion 364-day unsecured term loan facility and $4.0 billion unsecured delayed draw term loan facility
- Worley — $1.3 billion senior revolving and term loan credit facilities in connection with acquisition of Jacobs Engineering Group’s Energy, Chemicals and Resources division
- CITGO Petroleum Corporation – $1.2 billion senior secured term loan B facility
- Amcor plc — $4.5 billion multi-tranche senior revolving and term loan credit facilities in connection with acquisition of Bemis Company Inc., $1.05 billion 364-day revolving credit facility
- Privately held midstream provider — $1.0 billion secured revolving credit facility to support company’s continued expansion
- Privately held upstream oil and gas company with assets in Texas, Louisiana and North Dakota in a reserve based revolving loan facility and a second lien financing with a group of institutional investors
- Apergy Corporation — $665 million senior secured term loan B and revolving credit facilities in connection with spinoff from Dover Corporation
- Archrock Partners — $1.1 billion secured revolving credit facility
- Exterran Corporation — $925 million secured revolving credit facility
- Privately held exploration and production company — $1.75 billion revolving credit facility
- Independent exploration and production company — $75 million secured mezzanine term loan, with consideration including conveyance of overriding royalty interests to investor
- Privately held oilfield services company — $170 million secured credit facilities