Energy Private Equity: The New Reality of Low Oil Prices

On January 26, 2016, the Guarini Center on Environmental, Energy and Land Use Law at NYU School of Law, held a discussion on, “Energy Private Equity: The New Reality of Low Oil Prices.”

Speakers included:

Stephen Coats, Partner, Riverstone

Thomas Edelman, Managing Partner, White Deer Energy

Robert Gold (’84), Senior Executive, Ridgewood Energy

Shaia Hosseinzadeh, Managing Director, WL Ross & Co. LLC

Robert Seber, Partner, Vinson & Elkins LLP (moderator)

This event was made possible through the generous support of Vinson & Elkins LLP.

Stephen Coats, Partner, Riverstone

Mr. Coats is a Partner of Riverstone, serving as General Counsel. He is based in New York.

Prior to joining Riverstone in April 2008, Mr. Coats was a Partner at Vinson & Elkins L.L.P., a law firm specializing in the energy sector. While at Vinson & Elkins, he focused on domestic and cross-border M&A work in the energy sector. Prior to joining Riverstone, Mr. Coats was outside counsel to Riverstone in several transactions including, among others, Niska Gas Storage, Frontier Drilling, Red Technology Alliance, and Phoenix Exploration Company.

He received his B.A. in Government from the University of Texas at Austin in 1993 and his J.D. from the University of Texas School of Law in 1997. Mr. Coats is licensed to practice law in the states of New York and Texas.

Thomas Edelman, Managing Partner, White Deer Energy

Prior to forming White Deer, Mr. Edelman founded and/or managed a series of eight energy companies, creating significant value for investors over more than a 25-year period. He founded or co-founded Snyder Oil Corporation (now part of Devon Energy Corporation), Range Resources (NYSE: RRC) and Patina Oil and Gas (now part of Noble Energy, Inc.). He also co-founded Bear Paw Energy and Bear Cub Energy, both midstream companies based in the Rocky Mountains.

Prior to 1981, when he left Wall Street to co-found Snyder Oil, Mr. Edelman was a Vice President in The First Boston Corporation’s (now Credit Suisse) energy group and an associate at Lehman Brothers Kuhn Loeb.

Mr. Edelman is currently a Director of Noble Energy, Inc. (NYSE: NBL). He currently chairs the Investment Committee and serves as a Trustee of The Hotchkiss School, serves as Chairman Emeritus of Lenox Hill Neighborhood House, is a Director of The Wildlife Conservation Society and serves on the Advisory Council of Princeton University’s Department of Politics. He is a former member of the Board of Georgetown University. Mr. Edelman holds an MBA in Finance from Harvard Business School (Baker Scholar) and a BA in Political Economy from Princeton University, magna cum laude.

Robert Gold (’84), Senior Executive, Ridgewood Energy

Robert (“Bob”) L. Gold has been a Senior Executive of Ridgewood Energy since 1987, the CEO of Ridgewood Capital Corp. since 1998 and has been active in the acquisitions and private equity arena since the mid-1980s. At Ridgewood, Mr. Gold is part of the senior leadership team in businesses that focus on investments in the energy industry. Bob is the Chairman of the Board for the Institute for Creative Problem Solving, an educational program for Gifted Math Students and serves on the Board of the NYU Polytechnic School of Engineering. Bob is also a Board member of the Massachusetts Museum of Contemporary Art where he chairs the Finance and Investment Committees. Bob is a co-founder of the Thought Into Action Institute at Colgate University, a program for college entrepreneurs where Bob teaches entrepreneurship and mentors college entrepreneurs. Prior to joining Ridgewood, Bob was a corporate attorney at the law firm of Cleary, Gottlieb, Steen & Hamilton and a Law Clerk for Federal Judge Charles P. Sifton. Bob earned his B.A. from Colgate University and received his J.D. from New York University Law School. Bob is the father of 5 children.

Shaia Hosseinzadeh, Managing Director, WL Ross & Co. LLC

Mr. Hosseinzadeh is a Managing Director of WL Ross & Co. LLC. He leads the firm’s private equity and credit activities in energy and natural resources. Since joining WL Ross in 2010, Mr. Hosseinzadeh has been involved in the firm’s investments in the natural resources, power and aerospace sectors. Mr. Hosseinzadeh has over 15 years of experience with private equity, mergers, acquisitions and financial restructurings. He has worked on more than 46 transactions with a combined aggregate value of $36 billion.

Prior to joining WL Ross, Mr. Hosseinzadeh was employed by Apollo Global Management in New York. Prior to that, he worked in the Investment Banking and Leveraged Finance Group at Credit Suisse First Boston. His past and present board positions include Air Lease, EXCO Resources, Garden Fresh Restaurant, MW Industries, Gray Wireline Service and Varel International. Additionally, he is a member of the Brookings Institute Energy Security Task Force, and serves as a Sustaining Board Member of Youth Inc.

Mr. Hosseinzadeh earned his MSc in economics and philosophy and his BSc in economics from the London School of Economics.

Robert Seber, Partner, Vinson & Elkins LLP (moderator)

Mr. Seber’s principal areas of practice are private equity and privately negotiated mergers and acquisitions. He has represented numerous investment funds and corporate clients in different sectors of the energy industry and a wide spectrum of other industries, including technology and financial services. Robert’s extensive private equity experience covers the full transactional cycle of investment funds, ranging from fund formation to acquisitions, recapitalizations, minority investments, complex equity arrangements, and exits. He teaches classes on “Oil and Gas Law and Governance” and “Energy Deals” at New York University.