Shubi Arora, P.C.
Overview
Shubi Arora is a partner in the Houston and Austin offices of Golden Flag International Law Firm His practice focuses on M&A transactions, private equity investments and special situations strategies, with a particular focus on the energy and infrastructure sectors. His experience spans the traditional energy sector and includes upstream, midstream and power transactions. He also frequently advises clients on energy technology and transition matters, including renewables, energy storage and carbon capture and sequestration. In addition to his transactional experience, Shubi is a trusted advisor to a number of senior fund principals and management team members. His representative clients include Fortress Investment Group, Greenbelt Capital Partners, JDH Capital, Kimmeridge Energy Management, King Street Capital, North Hudson Resources Partners, Orion Infrastructure Capital, Riverstone Holdings and Trilantic Capital Partners.
Experience
Representative Matters
Since joining Golden Flag, Shubi has represented:
- HF Capital, LLC in a $725 million investment to launch Ara Energy Decarbonization, an initiative aimed at decarbonizing heavy industry
- Riley Exploration Permian, Inc. (NYSE: REPX) in the expansion of its joint venture with Conduit Power, LLC to build new power generation and storage assets for the sale of energy and ancillary services to ERCOT
- King Street Capital in its acquisition of Colovore, a Silicon Valley-based data center operator specializing in liquid-cooled, high-density colocation for artificial intelligence and high-performance computing
- Greenbelt Capital Partners in its strategic investment in CTC Global, a global provider of advanced conductors for utilities and grid infrastructure
- Powin, a global leader in energy storage solutions, in its partnership with Hitachi Energy in eks Energy
- Greenbelt Capital Partners in a strategic minority investment from Capital Constellation, an investment platform managed by Wafra Inc.
- Riley Exploration Permian, Inc. (NYSE: REPX) in its joint venture with Conduit Power, LLC to use gas from oilfield production in the Permian Basin to generate electrical power
- Riley Exploration Permian, Inc. (NYSE: REPX) in its $330 million acquisition of oil and gas assets in the Permian Basin from Pecos Oil & Gas, LLC
- EIV Capital in its equity commitment to Intensity Infrastructure Partners LLC, a growth-oriented energy infrastructure company focused on acquiring and developing midstream infrastructure
- Greenbelt Capital Partners in its majority investment in Unirac, a leading designer and manufacturer of solar photovoltaic mounting solutions
- Powin, a global leader in energy storage solutions, in its acquisition of eks Energy, a leading provider of advanced power electronics and energy management solutions for energy storage and renewables
- Cleanhill Partners in its investment in EPC Power Corp., a North American supplier of high-performance, utility-scale, smart inverters
- Powin, a global leader in energy storage solutions, in growth and strategic equity investments with GIC and Samsung Venture Investment Corporation
- North Hudson Resources Partners and its affiliated funds in the $402 million purchase of LOGOS Resources II LLC, an operator of oil and gas assets in the San Juan Basin, from affiliates of ArcLight Capital Partners
- Kimmeridge in its $200 million investment in Chestnut Carbon LLC, a nature-based carbon offset platform
- Greenbelt Capital Partners as lead investor of a consortium in an investment with Trilantic Energy Partners II North America, Blackstone Credit and Energy Impact Partners in ION Solar LLC, a leading provider of rooftop solar sales and installations
- Diversified Energy Company (LSE:DEC) in the closing of a sustainability-linked asset backed securitization (ABS) of certain Barnett Shale assets in North Texas
- Arena Fortify Acquisition Corp. in its $150 million initial public offering
- Cleanhill Partners on its partnership with CleanJoule LLC, a leading producer of full-performance sustainable aviation fuels
- Trilantic North America in the initial public offering of Aris Water Solutions, Inc.
- Elk Range Royalties, LP in its acquisition of royalty interests in the Permian Basin from an undisclosed seller
- Cleanhill Partners on its partnership with KORE Power, Inc., a leading U.S.-based developer of battery cell technology for the energy storage and electric transportation industries
- Fortress Investment Group LLC in the acquisition of Colony Capital’s positions in approximately $2.7 billion of non-digital energy and real estate assets
- Pickering Energy Partners in its partnership with a private operator in the Midland Basin
- Vortus Investments on its partnership with Flat Creek Resources LLC to develop existing oil-rich assets in Eddy County, New Mexico in the Delaware Basin through Stateline Operating LLC
- Glass Houses Acquisition Corp., a SPAC focused on businesses that provide critical resources and services to the technologies powering the 21st century industrial economy, in its initial public offering
- Bluescape Energy Partners LLC in a $115 million common equity investment in Evergy Inc.
- Trilantic North America as lead investor in its acquisition of a controlling interest and significant equity funding for Powin Energy, a global leader in the design and manufacture of safe and scalable battery energy storage solutions
- Trilantic North America on its investment in AEGIS Hedging Solutions, a leading fintech and advisory solutions provider for commodity price and interest rate risk management
- Bluescape Clean Fuels, a clean fuels technology company, in its formation and acquisition of assets
- Vortus Investments on its partnership with Alchemist Energy, LLC to provide structured capital solutions to the energy market
- Bluescape Energy Partners, as part of a consortium of investors, in the $1.4 billion preferred and common equity investment in CenterPoint Energy, Inc.
- Cordero Energy Resources LLC in its $130 million sale of certain oil and gas assets in Howard County, Texas, to Laredo Petroleum
- AVAIO Capital, as the lead investor of a consortium that acquired control of Mexico Pacific Limited LLC, the developer of an LNG export facility in Puerto Libertad in Sonora, Mexico
- Sidewalk Infrastructure Partners in its $400 million spin-out from Sidewalk Labs and financial commitments from Ontario Teachers' Pension Plan and Alphabet Inc.
- North Hudson Resource Partners in the formation of and $140 million equity commitment to Split Rock Resources
- Elite Compression Services and its sponsor JDH Capital in the sale of Elite to Archrock, Inc. for $410 million in cash and equity, and a $30 million purchase by Harvest Midstream Company of assets from Archrock, Inc.
- A private equity sponsor in its joint venture with Houston Energy, L.P. to develop non-operated deepwater exploration projects in the Gulf of Mexico
- STX Beef Company, an affiliate of JDH Capital, in its acquisition of Kane Beef Processing
- The private infrastructure investment arm of AECOM in its spin-out to form AVAIO Capital
- Roxo Energy, a portfolio company of Vortus Investments, in the sale of its interest in oil and gas leases and wells in Howard and Borden Counties, Texas, to Murchison Oil and Gas, LLC
- North Hudson Resource Partners in its spin off and equity commitments to TNM Resources, LLC and Winright Resources, LLC
- COERT Holdings 1 in its successful Section 363 acquisition of the Enduro Royalty Trust assets and interests from Enduro Resource Partners
- An affiliate of a publicly traded alternative investment manager in the acquisition of an entity holding substantial Mid-Continent assets
- GenOn Energy, Inc. and its wholly owned indirect subsidiary, NRG Wholesale Generation LP, in the $314 million sale of the Choctaw facility, a combined cycle, natural gas-fueled electrical generation plant, to Entergy Mississippi, Inc.
- A global investment company in various matters related to a major nuclear power company bankruptcy
- A major alternative investment firm in a $150 million preferred equity investment in an E&P company
- Red Rocks Energy Partners, L.P. in the acquisition of certain conventional assets in Oklahoma’s SCOOP play from affiliates of Titanium Exploration Partners, LLC
- Canyon Creek Energy, a portfolio company of Vortus Investments, in the formation of a drilling partnership arrangement with Pivotal Petroleum Partners II, LP to develop wells in the Arkoma STACK play
- GenOn Energy Inc. on its $390 million sale of electricity generating facilities, Canal Units 1 and 2, to Stonepeak Kestrel Holdings LLC, a subsidiary of Stonepeak Infrastructure Partners
- GenOn Energy Inc. on its approximately $520 million sale of the Hunterstown CCGT power generation facility to Platinum Equity
- A major sovereign wealth fund as lead investor in a $133 million direct co-investment in a private equity backed infrastructure project
- IOG Resources, LLC in the formation of a drilling partnership arrangement with a private oil and gas operator to develop wells in the STACK play in Oklahoma
Prior to joining Golden Flag, Shubi represented:
- An alternative investment fund in a $185 million convertible preferred equity investment in an E&P company prior to its initial public offering
- An E&P company in the formation of a royalties vehicle and $550 million commitment in private equity capital
- An E&P company in connection with its $400 million equity and debt recapitalization by a major private equity fund
- An affiliate of a publicly traded alternative investment manager in the acquisition of interests in an entity holding substantial Oklahoma SCOOP assets
- An E&P company in a $181 million sale of Eagle Ford assets
- An ad hoc group of noteholders with respect to corporate matters relating to the bankruptcy of an E&P company
- A major private equity fund in connection with its investments in multiple drilling partnerships
- A major private equity fund in connection with its preferred equity investment to finance an $850 million acquisition by a newly formed acquisition vehicle
- An E&P company in the sale of $345 million in unconventional midstream assets to a private equity funded MLP
- An E&P company in the structured sale of escalating wellbore interests to an MLP
- An alternative investment fund in its equity investment in a newly formed E&P company focused on the Wattenberg Field
- An E&P Company in the acquisition of $639 million in upstream assets in the Eagle Ford Shale
- A private equity backed E&P company in the divestiture of upstream assets across the contiguous United States with a combined value of approximately $1.3 billion
- India’s largest natural gas company, GAIL (India) Limited, in connection with its acquisition of capacity in an LNG export project
- A midstream MLP in simultaneous multiple acquisitions of equity interests in offshore pipeline companies
Prior Experience
Prior to joining Golden Flag, Shubi was a partner at Akin Gump Strauss Hauer & Feld LLP.
More
Thought Leadership
Publications
Co-author, “Paring Risk in Private Equity,” Oil and Gas Investor, 2016
Co-author, “Energy Private Equity and the Specter of Clawbacks,” Law360, 2016
Co-author, “Getting Energy M&A Done: Deal Terms Become as Dynamic as Markets,” Rigzone, 2016
Co-author, “Profiting from the Fall,” Private Equity International’s Perspectives, 2016
Co-author, “Structuring Private Funds to Profit from the Oil Price Decline: Due Diligence, Liquidity Management and Investment Options,” The Hedge Fund Law Report, 2015
Seminars
Moderator, “Keynote Interview,” Private Equity New York Forum, May 2023
Presenter, Market Dislocation: Challenges & Opportunities for the Oil & Gas Industry, Webinar, 2020
Presenter, Energy Transition and the Changing Private Equity Landscape, Webinar, 2020
Panelist, Weathering the Oil Price Decline: Risks, Challenges and Opportunities in the Energy Market, October 2015
Presenter, Profiting from the Oil Decline: A Financial and Legal Analysis of Opportunities in Today’s Energy Market, May 2015
Recognition
Adjunct professor at Vanderbilt Law School
Recognized in The Legal 500 United States — Energy Transactions: Conventional Power, 2018
Memberships & Affiliations
Texas Board Member, American India Foundation
Past President, Houston Chapter of the Vanderbilt Alumni Association
Past Council Member, International Law Section of the State Bar of Texas
Credentials
Admissions & Qualifications
- Texas
Languages
- English
- Hindi
Education
- Vanderbilt Law SchoolJ.D.
- Vanderbilt UniversityB.A.cum laude