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Professionals

Education

J.D., University of Oklahoma College of Law, 1979

B.A., Southwestern Oklahoma State University, 1976

Admitted

Oklahoma, 1979

Languages

Ray Lees is a partner in Porter Hedges’ Oklahoma City office and a member of the firm’s energy section. His practice focuses on advising oil and gas companies on a variety of corporate, transactional and commercial matters, with an emphasis on upstream and midstream oil and gas transactions including mergers, acquisitions & divestitures, joint ventures, finance, and real estate.

Mr. Lees has advised clients on some of the oil and gas industry’s largest conventional and unconventional oil and gas acquisition and divestiture transactions, including deals with a combined value of more than $80 billion over the last ten years in the Barnett, Eagle Ford, Fayetteville, Haynesville, Marcellus, Mississippi Lime, Niobrara, Permian, and Utica plays. He has also counseled clients in equity commitments from private investors and energy financing transactions involving oil and gas and midstream assets across the country.

Mr. Lees’ oil and gas experience includes negotiating and drafting purchase and sale agreements, swap agreements, development agreements, limited liability company agreements, transition services agreements, seismic licenses, mineral leases, royalty agreements, net profit interest agreements, marketing agreements, and other agreements and instruments customary in connection with oil & gas joint ventures, acquisitions and divestitures.

Mr. Lees has been recognized by Chambers USA as among the leading lawyers in Corporate/Commercial, included in The Best Lawyers in America since 2011, and selected for inclusion in Oklahoma Super Lawyers since 2007.

Prior to joining the Porter Hedges, Mr. Lees was the managing partner at the Commercial Law Group, P.C. in Oklahoma City.

Representative Experience

Acquisitions and Divestitures

  • Representation of exploration and production company in the sale of oil and gas assets in the Upper Devonian, Marcellus and Utica shales for $5.375 billion.
  • Representation of exploration and production company in the acquisition of Permian Basin acreage for $726 million.
  • Representation of exploration and production company in the $4.75 billion sale of Fayetteville Shale interests.
  • Representation of independent oil and natural gas company in the $1.75 billion acquisition of shale acreage in the Southern Utica and Southern Marcellus plays.
  • Representation of independent oil and natural gas company in the $2.5 billion acquisition of shale acreage in the Southern Permian Basin.
  • Representation of exploration and production company in the sale of Southern Marcellus Shale and a portion of the Eastern Utica Shale assets in West Virginia and Pennsylvania for $5.375 billion.
  • Representation of the midstream subsidiary of an exploration and production company in the $2.16 billion sale of gas-gathering assets in Eagle Ford, Utica, Niobrara, Haynesville, and Marcellus Shale plays.

Joint Ventures

  • Representation of exploration and production company in a $3.4 billion Utica Shale joint venture with an international energy company.
  • Representation of exploration and production company in a $2.25 billion Barnett Shale joint venture with an international energy company.
  • Representation of exploration and production company in a $3.375 billion Marcellus Shale joint venture with an international energy company.
  • Representation of exploration and production company in a $1.9 billion Fayetteville Shale joint venture with an international energy company.
  • Representation of exploration and production company in a $2.2 billion Eagle Ford Shale joint venture with an international energy company.

Professional / Civic Affiliations

  • American Bar Association, Member
  • Oklahoma Bar Association, Member

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