Erland Modesto

Simpson Thacher & Bartlett LLP

$ $$$

Travis Street 600
Houston 77002 TX US

Erland Modesto is a Partner in the Houston office of Simpson Thacher & Bartlett LLP. Erland’s practice focuses on financing, credit and other corporate matters. Erland represents lenders and borrowers and has experience in a wide variety of debt financing transactions, including leveraged buyouts, acquisition financings, general refinancings, restructurings and reserve-based financings. His clients have included JPMorgan, Goldman Sachs, First Reserve Corporation, KKR, Aqua America, Wells Fargo and MUFG Union Bank.

Erland has represented clients in a variety of industries, including in the oil and gas exploration and production, midstream and oilfield services sectors and recently served as Sr. Counsel in the legal department of Energy Transfer, which owns and operates one of the largest portfolios of energy assets in the United States where he focused primarily on debt financing and other general corporate matters.

Transactions on which Erland has worked include the representation of:

  • Aqua America in connection with bridge financing related to its announced $4.275 billion acquisition of Peoples Natural Gas Company
  • Goldman Sachs Lending Partners LLC, as administrative agent, in connection with providing GIP II Stetson Holding I, L.P. and GIP III Stetson Holdings II, L.P., portfolio companies of Global Infrastructure Partners, financing for their acquisition of Devon Energy’s sale of all of its interest in publically traded entities EnLink Midstream Partners LP and EnLink Midstream LLC to Global Infrastructure Partners for $3.12 billion
  • First Reserve Corporation and its portfolio company Templar Energy LLC in connection with a comprehensive restructuring transaction resulting in the extinguishment of $1.45 billion in second lien debt, a new equity investment of $365 million, and an amended reserve based credit facility with a $600 million borrowing base
  • JPMorgan, as administrative agent, under Swift Energy Company’s pre-petition reserve based credit facility in Swift’s chapter 11 bankruptcy case and as sole lead arranger for Swift’s $500 million exit facility
  • JPMorgan, as administrative agent, in a $600 million reserve-based super-priority first lien debtor-in-possession revolving credit facility and a $600 million reserve-based first lien exit revolving exit credit facility for Halcón Resources
  • JPMorgan, as administrative agent, in connection with providing financing for an independent oil and gas exploration and production company’s $2.3 billion acquisition of a public company’s working interest
  • an investor group consisting of affiliates of Kohlberg Kravis Roberts & Co. L.P., Natural Gas Partners, Crestview Partners and Itochu Corporation, in their acquisition of Samson Investment Company and in connection with a $2.25 billion reserve based revolving credit facility for Samson Resources Corporation
  • Wells Fargo Bank, National Association as administrative agent in a $4 billion revolving credit facility for LINN Energy, LLC
  • Sabine Oil & Gas LLC, a portfolio company of First Reserve Corporation, in connection with the financing, consisting of a $1 billion revolving credit facility and a $850 million bridge loan facility, relating to the merger between Forest Oil Corporation and Sabine
  • First Reserve Corporation and its portfolio company Templar Energy LLC in connection with the financing related to its $1 billion acquisition of oil and gas assets from Forest Oil Corporation
  • Viva Alamo LLC, a portfolio company of The Blackstone Group, in connection with the financing related to its acquisition from affiliates of Direct Energy LP of gas-fired generating facilities with such financing arrangement in an amount of a $515 million term loan credit facility and a $50 million revolving credit facility
  • various portfolio companies of KKR & Co. L.P. (formerly known as Kohlberg Kravis Roberts & Co) in connection with revolving credit facilities for various portfolio companies in the oil and gas sector
  • Wells Fargo Bank, National Association as administrative agent in various revolving credit facilities including a $250 million and $450 million revolving credit facility
  • MUFG Union Bank, N.A., as a lead arranger and administrative agent in connection with various financings for affiliated companies of American Energy Partners, LP totaling approximately $390 million
  • BNP Paribas on agency and collateral transfer matters in connection with the sale of its energy loan portfolio to Wells Fargo Bank, National Association

In-House Experience

  • Energy Transfer Equity, L.P. in the refinancing of their senior secured term loan facility in an aggregate amount of $2.2 billion
  • Energy Transfer Partners, L.P. in the refinancing of the legacy revolving credit facilities at Energy Transfer Partners, L.P. and Sunoco Logistics Partners Operations L.P. in an aggregate amount of $5 billion
  • Energy Transfer Partners, L.P. in the refinancing of a term loan agreement for the Fayetteville Express Pipeline, a joint venture between Kinder Morgan, Inc. and Energy Transfer Partners, L.P.
  • Energy Transfer Partners, L.P. and several of its pipeline joint ventures in various amendments to financing documents and other matters related to financing arrangements at such joint ventures
  • Energy Transfer Partners, L.P. in the sale to certain funds managed by Blackstone Energy Partners of a 32.44 percent stake in the Rover Pipeline Project for approximately $1.57 billion

Erland received his J.D., with Honors, from University of Texas School of Law in 2010 and his B.A. from Boston College in 2007.  He is admitted to practice in Texas and New York.

Education:

  • University of Texas School of Law, 2010 J.D.
    • With Honors; Recipient of the Roberta Wright Reeves Endowed Presidential Scholarship in Law
  • Boston College, 2007 B.A.

Admissions :

  • Texas 2012
  • New York 2011

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Travis Street 600
Houston 77002 TX US
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Broadway 42
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