IP Litigation & Trial Senior Paralegal

Chevron to transfer Hess Midstream stake and DJ Basin assets. Chevron Corporation has entered into a series of definitive agreements with Hess Midstream LP to revise its midstream arrangements in the Bakken and establish new contracts in the DJ Basin. The transaction includes the transfer of Chevron's ownership interests and general partner position in Hess Midstream, along with its DJ Basin crude oil midstream assets, in exchange for a revised commercial framework and $200 million in cash consideration. Under the revised agreements, the Bakken midstream contracts will be extended. Chevron expects the changes to reduce its unit midstream costs in the Bakken by approximately 50%, improving future earnings and returns on capital employed. Chevron also expects to fully deconsolidate Hess Midstream following completion of the transaction. This would remove approximately $3.7 billion of Hess Midstream debt from Chevron's consolidated balance sheet. The company expects the transaction to increase return on capital employed by 0.5 percentage points on an absolute basis. It also expects the revised commercial arrangements to generate long-term economic value through lower costs and improved earnings. Chevron expects to record a one-time after-tax loss of approximately $3 billion to $4 billion at closing. The loss is expected because the company cannot recognise anticipated future savings from lower Bakken midstream costs as an asset. "This transaction resets the commercial framework between our upstream and midstream assets in the Bakken and DJ Basins," said Andy Walz, Chevron's President of Downstream, Midstream and Chemicals. He said the agreement would lower Chevron's Bakken cost structure while allowing Hess Midstream to operate as an independent company. Chevron said it would continue to sustain Bakken production through technology deployment and operational improvements developed across its global shale and tight-oil operations. The transaction has received approval from the Conflicts Committee of the board of directors of Hess Midstream's general partner. The committee consists entirely of independent directors and consulted independent legal and financial advisers during its review. Completion remains subject to customary closing conditions and regulatory approvals. Chevron expects the transaction to close by the end of 2026. BofA Securities is serving as financial adviser to Chevron, while Latham & Watkins LLP is acting as its legal adviser. Evercore is advising the Hess Midstream general partner's Conflicts Committee on financial matters, with Gibson, Dunn & Crutcher LLP providing legal advice. The agreements will change Chevron's financial and commercial relationship with its Bakken and DJ Basin midstream operations while establishing a revised cost structure for its upstream production activities.

HSF Kramer, Addleshaws and Quinn chief take top prizes at Legal Business Awards. Addleshaw Goddard, Herbert Smith Freehills Kramer and Sullivan & Cromwell were among the big winners at this year's Legal Business Awards, which saw more than 30 prizes handed out to the top firms, chambers, in-house teams, and individual lawyers in the profession. Hundreds of attendees from the very top of the legal industry flocked to the Grosvenor House Hotel on London's Park Lane for this year's ceremony, which was hosted by award-winning comedian, writer, actor and director Richard Ayoade. Addleshaws took the UK Law Firm of the Year award after a strong year which marked the culmination of nine consecutive years of growth in both revenue and PEP, while HSF Kramer won International Law Firm of the Year on the back of its transformative transatlantic merger. Sullivan & Cromwell took the Global London Law Firm of the Year prize after a major City push that included last year's hires of former Weil London chief Mike Francies and Kirkland restructuring partner Kon Asimacopoulos, with the firm continuing its recruitment drive into 2026 with more big-name recruits. Latham & Watkins was named M&A Team of the Year for its lead role on the landmark Anglo-Teck merger, valued at nearly $70bn. Sidley was the winner in the new category of Client Service Firm of the Year, which recognises firms that perform exceptionally on key client service metrics in Legal 500's London research. This year's Lifetime Achievement Award went to Quinn Emanuel founder John Quinn, who announced earlier this year that he is set to step down as head of the disputes powerhouse that he co-founded four decades ago. He remains chair of the firm, and in his acceptance speech, he stressed that he is not ready to slow down, saying 'Quinn is an unfinished project - Legal Business is not done'. Other awards for individual leaders included Management Partner of the Year, which went to Shane Gleghorn of Winston Taylor - now Europe and Middle East managing partner of the merged firm as it targets $2bn in revenue - while Benedict Nwaeke of Soho House & Co took the GC of the Year prize. Unilever was named In-House Team of the Year, while Sainsbury's won the Most Transformative In-House Team of the Year award. Rising Star In-House Counsel of the Year went to Suzy Lovell of Kier, who was recently promoted to deputy GC. Other major practice awards saw Clifford Chance named Private Equity Team of the Year, Kirkland & Ellis take the Restructuring Team of the Year prize and Hogan Lovells Cadwalader win Finance Team of the Year. Slaughter and May was named Capital Markets Team of the Year, while Stephenson Harwood won Disputes Team of the Year. Freshfields was named Life Sciences Team of the Year, while Ashurst Perkins Coie and BCLP jointly won Real Estate Team of the Year. The newly merged Ashurst Perkins Coie also picked up the inaugural AI Initiative of the Year award. Elsewhere, CMS, Venner Shipley and Altair IP won IP Team of the Year, while Osborne Clarke took Legal Technology Team of the Year. The awards also recognised a strong showing from the Bar, as Fountain Court was named Chambers of the Year, while Sonia Tolaney KC of One Essex Court won Barrister of the Year on the back of a string of high-profile cases. Legal Business Awards 2026 winners in full: AI Initiative of the Year: Ashurst Perkins Coie Barrister of the Year: Sonia Tolaney KC, One Essex Court Boutique Law Firm of the Year: SDV Fenchurch Business Services Team of the Year: DAC Beachcroft Capital Markets Team of the Year: Slaughter and May Chambers of the Year: Fountain Court Client Service Firm of the Year: Sidley Competition Team of the Year: Weil Gotshal & Manges Disputes Team of the Year: Stephenson Harwood Energy/Infrastructure Team of the Year: Pinsent Masons ESG Programme of the Year: Mayer Brown Finance Team of the Year: Hogan Lovells GC of the Year: Benedict Nwaeke, Soho House & Co Global London Law Firm of the Year: Sullivan & Cromwell In-House Team of the Year: Unilever International Law Firm of the Year: Herbert Smith Freehills Kramer IP Team of the Year: CMS with Venner Shipley and Altair IP Legal Technology Team of the Year: Osborne Clarke Life Sciences Team of the Year: Freshfields Lifetime Achievement Award: John Quinn, Quinn Emanuel M&A Team of the Year: Latham & Watkins Management Partner of the Year: Shane Gleghorn, Winston Taylor Most Transformative In-House Team of the Year: Sainsbury's Private Client Team of the Year: Howard Kennedy Private Equity Team of the Year: Clifford Chance Public Sector Team of the Year: Burges Salmon Real Estate Team of the Year: Ashurst Perkins Coie and BCLP Restructuring Team of the Year: Kirkland & Ellis Rising Star In-House Counsel of the Year: Suzy Lovell, Kier UK Law Firm of the Year: Addleshaw Goddard

Vinson & Elkins hire senior finance lawyers from Latham & Watkins. Vinson & Elkins (V&E) has recruited two senior finance lawyers from Latham & Watkins in New York, providing a major boost to its finance law group. Loren Finegold has taken the role as V&E's new structured finance leader after 25 years at Latham & Watkins, where he was global vice chair of the structured finance practice. Also hired is Ed Comber, who was prevously counsel at Latham. The firm's media release is below -. Finegold and Comber bring market-leading structured finance experience across energy and infrastructure, including digital infrastructure, and other esoteric asset classes. Vinson & Elkins today announced that Loren Finegold and Ed Comber have joined the firm as New York-based partners in its Structured Finance and Securitization practice, with Finegold serving as head of the practice. Finegold and Comber are recognized leaders in structured finance and securitization, with decades of combined experience pioneering asset classes and transaction structures that define where the market is heading. Their arrival deepens the Vinson & Elkins Finance practice that is already regarded as one of the premier platforms in the market. Finegold advises banks, institutional investors, private credit funds, and issuers on innovative and highly structured asset-based financing solutions involving traditional and private capital funding sources. He has pioneered a number of new asset classes and transaction structures, including the first two midstream oil and gas securitizations closed to date, the first-ever securitizations of hyperscale and colocation data centers and wireless tower ground leases, the first-ever securitization of proven developed producing (PDP) oil and gas wells in a master trust structure, and the first-ever securitization of earned wage access receivables for a leading fintech issuer. Comber represents a broad range of market participants - including sponsors, issuers, borrowers, banks, underwriters, placement agents, investors, lenders, and private credit funds - in structured finance, securitization, and other secured financing transactions. His sector experience spans midstream and upstream oil and gas assets, GPU financings, shipping containers, triple net lease assets, rental car fleet securitizations, and consumer credit card receivables. He has also pioneered music catalog master trust securitizations and has counseled clients on portability considerations arising in M&A transactions involving such structures. "Vinson & Elkins has built one of the most respected finance platforms in the market," said Jim Fox, Vice Chair of the firm and a founding partner of the New York office. "Loren and Ed are exactly the kind of leaders who can accelerate what we've already built, with deep knowledge and a shared conviction that the most important structured finance opportunities of the next decade will be won at the intersection of capital markets and the continued build-out of energy and infrastructure." "Vinson & Elkins has built an exceptional finance platform and is widely recognized for its leadership in the energy and infrastructure sectors," said Finegold. "I see substantial opportunities to bring structured finance solutions to those and other capital-intensive sectors. I look forward to building this practice together with Ed and joining a firm with such a collaborative, world-class culture." "Loren and I have worked together for nearly a decade, and we're looking forward to continuing that partnership at Vinson & Elkins," said Comber. "The firm's strengths across energy, infrastructure, and other capital-intensive industries give us an exceptional platform to develop structured financing solutions for our clients." Finegold and Comber join from Latham & Watkins, where Finegold served as global vice chair of the firm's Structured Finance practice. Finegold earned his Juris Doctor from Georgetown University Law Center and a Master of Laws from New York University School of Law. Comber earned his Graduate Diploma in Law and Legal Practice Course from BPP Law School (UK), and a Master of Laws from Duke University School of Law. Vinson & Elkins' Structured Finance and Securitization practice focuses on energy, infrastructure, including digital infrastructure, and other esoteric asset classes, bringing together leading capabilities in finance, tax, real estate, and regulatory matters to execute transactions of exceptional complexity. The practice is consistently recognized by Chambers and Legal 500. About Vinson & Elkins For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 14 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or connect with us on LinkedIn. 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