Paul, Weiss, Rifkind, Wharton & Garrison has been in discussions to open an office in Houston, its first in Texas, as the firm seeks to cement its place in the energy deals market.
The firm, which currently has nine global offices, has approached partners from rival firms to recruit them into a Houston-based team, according to two people familiar with the matter. The firm will carry through with the plan only if it is able to recruit the right staff, one of the people said.
Paul Weiss didn’t immediately respond to a request for comment.
Energy deals have a been a bright spot in an otherwise slow deals market, thanks in part to two blockbuster deals this year: Exxon Mobil Corp.'s $59.5 billion purchase of Pioneer Natural Resources and Chevron Corp.’s $53 billion acquisition of Hess Corp.
Paul Weiss, which advised Chevron on the Hess deal, has a strong footing in the energy deals market, according to Bloomberg data. The firm ranked third by global energy transactions volume in 2023, summing nearly $78 billion. Gibson Dunn & Crutcher and Davis Polk & Wardwell were the only firms to surpass Paul Weiss in the space.
Paul Weiss in September poached Ravi Purohit, an energy and infrastructure corporate lawyer who worked at Latham & Watkins in Houston.
Purohit joined Paul Weiss as co-head of the firm’s infrastructure practice in New York. He was previously managing director at Blackstone Infrastructure Partners and infrastructure investment firm Alinda Capital Partners, and he has since maintained both as clients.
National firms have vied to position themselves in Houston. Latham was the first to open its Houston office in 2010 and Kirkland & Ellis followed in 2014.
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