Paul E. Vrana

Biography

Paul E. Vrana is an attorney in Jackson Walker’s Energy practice group. He has worked in the energy industry since 1986 and has practiced energy law since 1992. Prior to joining Jackson Walker, Paul was General Counsel for Tractebel Energy Trading, where he managed contract administration and credit risk groups. This experience, in addition to the practical experience he got even prior to law school by going through the Conoco training program and scheduling offshore gas on interstate pipelines, gives Paul an insightful perspective on the issues and challenges facing his clients.

Since joining Jackson Walker, he has served as lead outside counsel to several energy trading and marketing divisions of international and domestic energy companies and investor owned utilities. His industry experience encompasses:

• Oil & Gas Producers
• Investment Banks
• Utilities
• Energy Trading Affiliates of Producers, Banks and Pipelines
• Pipeline and Midstream Companies
• Wholesale Generators
• Retail Electricity Producers

Paul has particular experience with deregulated power and gas markets and routinely advises organizations on legal and credit matters related to these markets. He has handled a broad range of energy transactions including:

• Energy Trading
• Wholesale and retail gas and power purchase and sale agreements
• Long-term fuel supply and power sales agreements
• Energy-based derivatives and gas processing
• Balancing, transportation and storage transactions
• Credit and risk mitigation arrangements including guaranties, margin agreements, letters of credit, master netting agreements, letters of direction and prepayment arrangements
• Natural Gas Prepay Transactions Financed with Municipal Bonds
• First Lien Credit Structures
• Sole Supplier Arrangements
• Energy Management Agreements
• Long Term Fuel Supply and Power Purchase Agreements

Paul supported two large foreign utilities in the development of each of their U.S. energy trading and marketing operations. He has also assisted several U.S. entities in developing the infrastructure to begin commodity risk management activity and has provided ongoing legal support to these organizations.

Paul Vrana helps clients mitigate their exposure to bankrupt trading counterparties. He works closely with Jackson Walker’s highly respected bankruptcy and litigation teams to help clients evaluate their energy contracts and credit support documents, develop risk mitigation strategies and execute those strategies to optimize their utilization of the safe harbor protections of the bankruptcy code. And he works closely with clients to draft energy contracts that provide maximum protection in the event of a bankruptcy.

Since 2007, Paul has been listed in The Best Lawyers in America for Derivatives and Futures Law, Energy Law, and Natural Resources Law. He has also been named a “Top Lawyer” by H Texas magazine and was named one of Tarrant County’s “Top Attorneys” by Fort Worth, Texas magazine in the 2015 issue.

Education

B.S., Oklahoma State University
J.D., University of Oklahoma College of Law

Bar Admissions

Texas, 1992