Texas energy firms hit record profit figures

February, 14 2014

Partners in Texan law firms working on energy transactions are making profits per head of US$1.5m a year, according to The Texas Lawbook.

Texan law firms working on energy transactions are making record profits. ssuaphotos

Research from the Lawbook found that there were 3,500 lawyers working full- or part-time on energy clients. There are another 1,500 working in house for Exxon Mobil, Energy Future Holdings and other companies. Energy counsel estimate that charges are between US$650 and $1,050 an hour for the top lawyers. Vinson & Elkins has worked on more deals, by number, than any other firm in the last five years. Source: Dallas Morning News