Stephen M. Hetrick

Shareholder, Director

Bio Menu
  • Overview
  • Experience
  • Honors & Involvement
Bio overview

Stephen Hetrick is a corporate attorney whose practice encompasses a broad range of complex business transactions, including the organization, debt and equity financing, acquisition, reorganization and divestiture of all types of entities; the acquisition, development, leasing, management and financing of real estate; and state and local taxation matters. He currently serves on McAfee & Taft’s board of directors and previously served as co-leader of the firm’s Business Transactions Group.

While his primary focus has been assisting clients in mergers and acquisitions and real estate transactions, Stephen’s role has also been to oversee all of the legal needs of many of his clients. This role has ranged from negotiating business contracts to advising senior management on a host of organizational and operational matters, including legal and regulatory compliance, corporate strategy and fiduciary duties.

Stephen’s achievements have earned him inclusion in the Chambers USA Guide to America’s Leading Lawyers for Business, The Best Lawyers in America (business organizations) and Super Lawyers’ list of “Oklahoma Rising Stars,” which recognizes the state’s top up-and-coming attorneys. He was selected by Best Lawyers as “Tulsa Business Organizations Lawyer of the Year” for 2019, an honor given to a single lawyer in each legal specialty in each market.

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Experience, Honors, & Awards

Representative Experience

  • Represented Reasor’s LLC, an Oklahoma-based grocery store chain with operations at 17 locations in northeastern Oklahoma, in connection with the sale of its business to Brookshire Grocery Company, a regional grocery store chain with operations at more than 180 locations in Texas, Louisiana, and Arkansas.
  • Represented NGL Energy Partners LP (NYSE: NGL), a vertically integrated energy business, in the sale of its South Pecos Water Disposal Assets for $238.8 million to a subsidiary of WaterBridge Resources LLC.
  • Represented Griffin Communications, an Oklahoma City-based media company, in its acquisition of select radio stations from The E.W. Scripps Company (NASDAQ: SSP).
  • Represented NGL Energy Partners LP (NYSE: NGL), a vertically integrated energy business, in the sale of a portion of its retail propane business for $200 million to Dublin, Ireland-based DCC LPG, the leading liquefied petroleum gas sales, marketing and distribution business in Europe.
  • Represented NGL Energy Partners LP (NYSE: NGL), a vertically integrated energy business, in the sale of the remainder of its retail propane business for $900 million to Toronto, Canada-based Superior Plus Corp. (TSX: SPB).
  • Represented Magellan Midstream Partners, LP, a publicly traded midstream energy company, in the formation of a 50/50 joint venture with LBC Tank Terminals, LLC, one of the largest global operators of bulk liquid storage facilities, to develop, own and operate crude oil storage and pipeline infrastructure in the Houston Gulf Coast area.
  • Represented the developers of a flagship 21c Museum Hotel in Oklahoma City in all aspects of the negotiation and implementation of a multi-level financing structure, including the negotiation, structuring and preparation of federal and state historic tax credit financing, New Markets Tax Credits financing, tax increment financing, Section 108 HUD-guaranteed financing, and traditional financing, as well as the implementation of strategic public-private relationships with the Oklahoma City Economic Development Trust and the City of Oklahoma City. The complex transaction also included the negotiation and preparation of financing agreements, economic development agreements, a ground lease, master lease, and organizational documents.
  • Represented L-3 Communications Corporation, a prime contractor in defense and national security solutions, in the acquisition out of receivership of substantial improvements consisting of hangar space, office space, and space located in the general aviation terminal, all located on the Tulsa International Airport, including the assumption of the existing leasehold interest in the real property underlying those improvements and renegotiation of the terms of the sublease with the City of Tulsa and the Tulsa Airports Improvement Trust.
  • Represented L-3 Communications Corporation, a prime contractor in defense and national security solutions, in the negotiation of the lease of Majors Field Airport located in Greenville, Texas, including the negotiation of a separate operations and maintenance agreement for the general operation of the airport with the City of Greenville.
  • Representation of buyers and sellers in all aspects of business acquisitions in a variety of business industries, including lumber and building materials, oilfield services, construction, professional services, heavy equipment, transportation, communications, food service and manufacturing, and non-profits. His representation typically involves negotiating the structure of the acquisition, including consideration of tax and non-tax issues in determining whether the acquisition will be an asset or stock (or equity) acquisition, letters of intent, confidentiality agreements, due diligence activities, financing, regulatory and other third-party approvals, and closing of the transactions.
  • Representation of clients in acquisitions of unimproved and improved real property, including negotiation and documentation of purchase/sale agreements and loan documents, title and survey diligence, regulatory compliance, and land use issues.
  • Representation of landlords and tenants in all aspects of commercial leasing transactions, including ground leases, single-occupant leases, and multi-tenant office, retail or shopping center, and industrial leases.
  • Represented the members of PRI Holdings, LLC, the parent company of Progressive Resources, Inc., Plains Nitrogen, LLC, WellGen Services, LLC, and Mid-Con Cryogenic Services, LLC, a network of bulk liquid nitrogen sourcing, distribution, and logistics companies, in the sale of the companies to one of the largest international air gas producers.
  • Representation of nation’s largest supplier of building materials to professional builders in all aspects of its operations, with an emphasis on business and real estate acquisitions.
  • Representation of a food industry company in the acquisition of all assets associated with two large food processing plants.
  • Representation of developer in acquisition and redevelopment of a hotel/conference center and resort (including golf courses, single family residential developments, condominiums, restaurants, marinas and other amenities) at the site of the former Lake of Texoma state park.
  • Represented the owners of an Oklahoma-based company in the acquisition of the assets of a lumber and building materials company out of bankruptcy.
  • Represented the University of Oklahoma in the March 2008 acquisition of a multi-store medical office building.
  • Represented the owners of an Oklahoma-based lumber and building materials company in the July 2006 divestiture of the company for aggregate consideration of approximately $700 million.
  • Representation of management in a management-led buyout of an architecture, engineering and construction subsidiary of a public British corporation, including raising of private equity funds, bank financing, and other matters concerning the structuring of the transaction, and eventually, the August 2007 merger of the company into a publicly-traded acquirer for approximately $150 million in merger consideration.
  • Represented the owners of a Texas-based preferred provider organization (PPO) and affiliated companies in the October 2007 sale of those companies for an aggregate purchase price consideration of $54 million.
  • Representation of a public university in a public-private partnership (PPP) to implement a long-term operations and management arrangement covering the university’s utilities systems.
  • Represented a publicly held company in its acquisition of a multi-state sleep disorder business.

Honors and Awards

  • Listed in the Chambers USA Guide to America’s Leading Lawyers for Business
  • Selected by peers for inclusion in The Best Lawyers in America (business organizations)
  • Named “Tulsa Business Organizations Lawyer of the Year” for 2019 by The Best Lawyers in America
  • Named to Oklahoma Super Lawyers’ list of “Oklahoma Rising Stars,” which recognizes the state’s up-and-coming attorneys
  • Rated AV Preeminent by Martindale-Hubbell Peer Review Ratings

Professional Organizations and Memberships

  • Oklahoma Bar Association

Civic Involvement and Leadership

  • Emergency Infant Services (Board of Directors)

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At The Podium

Attorney-Client Privilege in the Corporate Context

2021 Corporate Counsel Seminar
Tulsa, OK | December 1, 2021

Ask the Lawyer

Cowboy Entrepreneur's Bootcamp
Tulsa, Oklahoma | October 29, 2011
Attorney Articles


Oklahoma Securities Act of 2004

57 Oklahoma Law Review 899 |


  • Oklahoma, 2003
  • U.S. District Court for the Western District of Oklahoma


  • J.D., with highest honors, University of Oklahoma, 2003
    • Order of the Coif
  • B.S. (Accounting), summa cum laude, University of Central Oklahoma, 2000

Professional Certification