Latham & Watkins Advises on Texas Energy Fund Financing of 452 MW Pecos Power Plant

Latham & Watkins LLP has advised Pecos Power Plant LLC, a project company jointly owned by affiliates of Mercuria Energy Group Limited and Continental Resources, Inc., on the closing of an approximately US$459 million term loan facility provided by the Public Utility Commission of Texas through the Texas Energy Fund. The financing will fund a portion of the costs to develop, construct, and operate the Pecos Power Plant, an approximately 452 MW natural gas-fired generating facility located in Reeves County, Texas.

The Latham team was led by New York partner Hamad Al-Hoshan, with associates Giancarlo Reanda, Alice Dales,* and Yian Wang. Advice was also provided on corporate matters by Houston partners James Garrett and Ashley Nguyen, with associate Logan McDowell;** on real estate matters by San Diego partner Robert Frances and counsel Aaron Friberg; on tax matters by Los Angeles counsel Kathryn Harrington and Houston partner Christine Mainguy; on federal energy regulatory matters by Washington, D.C. partner Natasha Gianvecchio; on ERISA matters by New York partner Austin Ozawa and Los Angeles counsel Aryeh Zuber; on environmental matters by Los Angeles/Houston partner Joshua Marnitz; on intellectual property matters by Washington, D.C. counsel Kieran Dickinson, with associate Brittany Grego; and on sanctions matters by Washington, D.C. counsel Ruchi Gill, with associate Amulya Vadapalli.

*Admitted to practice in Australia only.
**Admitted to practice in Texas only.