Ryan J. Morgan concentrates his practice on energy transactions and data center projects, serving as leader of the firm’s Energy Transactions Practice and Co-Chair of the firm’s Data Center Team. He represents upstream exploration and production companies, data center developers, cryptocurrency mining ventures, private equity firms and investors.
Ryan works closely with management teams that value his blend of business strategy, legal knowledge, and entrepreneurial instinct — functioning as an integrated extension of the client’s team.
Much of Ryan’s practice involves managing transactions, projects, and operations across the oil and gas and digital infrastructure sectors. He advises energy clients on acquisitions and divestitures of assets, joint ventures, participation agreements, joint operating agreements, exploration and development agreements, private equity financing transactions, and related industry contracts. He also manages large teams conducting asset diligence on significant transactions.
For data center developers, he helps develop a roadmap for successful ventures, including complex transactional agreements, joint venture operating agreements, land acquisition, site permitting and development, construction, power supply agreements and on-site behind-the-meter infrastructure, and long-term operations agreements or exit strategies.
Representative Experience
Data Centers & Cryptocurrency Mining
- Represented developer in joint venture for data center project in Missouri, including negotiation and draft of multiple complex commercial agreements, corporate structure with investor waterfalls, land use, construction, power generation and delivery, natural gas supply, data center lease and O&M agreements
- Represented developers at various stages of project development throughout the eastern US from Pennsylvania to Alabama, and in the midcontinent from Illinois to Texas, leading teams providing strategic counsel on property acquisitions, permitting, funding, power generation, grid connectivity, leasing, operations and exits
- Represented developers in securing capital from private equity investors, traditional lenders, bridge and construction financing, private placement offerings, joint venture structures
- Represented cryptocurrency mining venture in multiple states throughout oil and gas producing regions of the United States, including Texas, North Dakota, West Virginia, Ohio and Pennsylvania
- Counseled cryptocurrency developers, including review and preparation of project agreements and lease forms to allow mining from oil and gas assets
Energy Acquisitions & Divestitures
- Represented privately backed E&P in the $1.3 billion acquisition of Marcellus assets in the Appalachian Basin
- Represented privately backed E&P in the $1.2 billion acquisition of Utica assets in the Appalachian Basin
- Represented publicly backed portfolio company in corporate divestiture of vertically integrated power generation and natural gas production assets
- Represented publicly backed portfolio company in oil and gas asset acquisition, and follow up bolt-on acquisitions of additional oil and gas assets to expand development and production
- Represented private equity backed oil and gas E&P in sell-down of working interest in selected wells
- Represented privately backed oil and gas E&P in acquisition of oil and gas assets out of bankruptcy, including private capital financing, junior debt financing, equity investment, intercreditor agreements, hedge contracts, gas gathering agreements, and asset transfer into new SPVs
- Represented publicly backed portfolio company in acquisition of oil and gas assets in the Appalachian Basin
- Represented publicly backed portfolio company in acquisition of real estate for oil and gas wells and related facilities
- Represented private equity backed oil and gas E&P in multiple sales of ORRIs and NPRIs to private fund backed investment and holding company
- Represented private capital investment group in negotiating acquisition of coal mine and assets out of bankruptcy in Rockies Basin
- Represented privately backed oil and gas E&P in acquisition of acreage in northern PA
- Represented privately backed oil and gas E&P in negotiating and diligence on assets in north central PA
Energy Joint Ventures, Joint Development & Operational Agreements
- Represented publicly backed portfolio company in joint development agreement, operating agreements, participation agreements, and operational contracts for development of oil and gas assets
- Represented publicly backed portfolio company in negotiating terms for Farmout Agreement
- Represented private equity backed oil and gas E&P in negotiation of acreage swap agreements
- Represented private equity backed oil and gas E&P in negotiation of gathering contracts with midstream shippers
Other Energy Transactions
- Represented private equity backed oil and gas E&P in sale of pipeline infrastructure and related dedication and gas gathering agreements
- Represented privately held water services company in acquisition of water facilities and pipeline assets
- Represented solar developer in permitting, construction and financing of project in PA
- Represented wind developer in multiple expansions of project, together with related financings
- Represented solar developer in negotiation of power purchase agreement
- Represented publicly backed portfolio company in negotiating and drafting development and operational agreements for Atlantic coast port LNG terminal
- Represented publicly backed portfolio company in negotiating and drafting development and operational agreements for Texas gulf coast port LNG terminal
Energy Financing & Investment
- Represented private equity backed oil and gas E&P in negotiation of credit facility with JPMorgan Chase
- Represented publicly backed portfolio company in negotiating financing for development utilizing EB-5 capital funding
- Represented publicly backed portfolio company in traditional financing
- Represented privately backed oil and gas E&P in annual private placement offering to fund drilling programs from 2019-2026
- Represented private equity backed oil and gas investment group in negotiating reserve based lending with Bank of Oklahoma
- Represented private capital firm in review of oil and gas assets for private investment in Ohio’s Utica shale
- Represented private equity backed oil and gas investment group in negotiating line of credit financing with United Bank
- Represented privately backed oil and gas E&P in private placement offering raising funds for 2022 drilling program in Central PA
- Represented multiple affiliate private equity backed oil and gas investment groups in negotiating private lender financing for oil and gas development
- Represented private capital firm in review of oil and gas assets for private investment in Texas and Virginia
- Represented privately backed oil and gas E&P in multiple private capital financing transactions
- Represented financial investors in securing collateral in connection with acquisition of oil and gas assets in PA
- Represented lender in perfecting collateral in financing for mineral holding company
- Assisted in multi-million dollar sale and purchase of coal assets and related facility, sales and distribution contracts
- Developed guidelines, led due diligence teams, and prepared transactional documents for several multi-million dollar acquisitions of upstream oil and gas assets, involving review of title, environmental issues, property rights, liability and litigation matters, negotiation of contract terms and drafting of necessary documents
- Represented Fortune 500 energy client in negotiating significant asset acquisitions in Marcellus shale
- Provided guidance in developing major title and asset development projects for upstream E&P companies, managing project timelines, budget and delivery goals
- Litigated complex real estate and mineral ownership cases to allow clients to achieve development goals
- Litigated “missing and unknown owners” case to allow client to lease and produce oil and gas
- Served as Lead counsel responsible for negotiating transactions involving over 100,000 net mineral acres in Appalachia’s unconventional resource plays
- Served as Local counsel responsible for providing guidance on applicable law and analysis of complex title issues as well as lead counsel on asset due diligence for acquisitions, JV and joint development agreements involving over 1 million net mineral acres in the Appalachian Basin
- Handled acquisition by foreign-based investment group of U.S. on-shore assets
- Provided policy and implementation guidance for new legislation to clarify notice requirements in connection with development of coalbed methane
See All Representative Experience
- The Best Lawyers in America®, Corporate Law (2026), Energy Law (2012-Present), Energy Regulatory Law (2024-Present), Natural Resources Law (2021-Present), Project Finance Law (2025-Present), Securitization and Structured Finance Law (2025-Present)
- Generation Next: 40 under 40, The West Virginia State Journal (2010)
- Mountain Honorary
- Fellow, St. George Tucker Brooke
- The Order of the Coif, WVU College of Law
- The Foundation for Natural Resources and Energy Law
- GOWV Oil & Gas Association
- Energy & Mineral Law Foundation
- Chair, Sistersville Heritage Foundation
- West Virginia Governor’s School Advisory Committee
- Real Estate, Zoning & Land Use Committee, West Virginia State Bar
- West Virginia Leadership Conference, WV Roundtable, Class of 2009
- West Virginia Law Review
- “Data Centers: Benefits & Concerns for Regional Data Center Projects,” KDKA Pittsburgh News Radio (February 2026)
- “Data Centers in Focus: Development, Regulation and Growth,” Steptoe & Johnson PLLC Seminar (December 2025)
- “Getting Deals Done: Data Center Transactional and Grid Issues,” Steptoe & Johnson PLLC Webinar (October 2025)
- “Digital Transformation in the Oil, Gas and Energy Industries,” Foundation for Natural Resources and Energy Law, International Mining and Energy Law, Development and Investment Conference (April 2023)
- “Cryptocurrency Mining,” EMLF Annual Institute (June 2022)
- “Opportunities and Issues in Cryptocurrency Mining,” Institute for Energy Law (February 2022)
- “Natural Gas to Cryptocurrency,” Ohio Oil & Gas Association Annual Meeting (March 2022)
- “Rise of Cryptocurrency Investors with Green Energy Projects,” Steptoe & Johnson PLLC Webinar (December 2021)
- “Solar, Bitcoin Mining & Carbon Capture,” NARO National Convention (October 2021)
- “Challenges and Resolutions of Common Conflicts between Coal and Oil & Gas Operators,” EMLF Annual Conference (October 2013)
- “Shale Plays – An Overview” National Utility Contractors Association (2013)
- “An Update on Appalachian Shale Transactions,” TerraLex Global Meeting, Energy Practice Group (October 2012)
- “Shale Transactions in Appalachia: Key Transactional Documents,” EMLF Annual Institute (July 2012)
- “Overview of Pooling Affecting Appalachian Shale Development,” EMLF Annual Institute (May 2011)
- “Lease Maintenance Challenges,” The Foundation for Natural Resources and Energy Law/Energy & Mineral Law Foundation, Joint Conference on Development Issues in Major Shale Plays (2010)
- “East Meets West: An Overview of Operational Differences in Appalachia,” NALTA Annual Conference (2010)
- “Special Provisions for Pooling and Horizontal Drilling,” Michael Late Benedum Chapter, AAPL, Spring Meeting (2010)
- “Degasification of Coal Seams in Advance of Mining: Technical & Legal Issues,” WV Coal Mining Institute Fall Meeting (2009)
- “Coalbed Methane Gas & WV Law,” WV Desk & Derrick AIMEE Award of Merit (2009)
- “Basics of Oil & Gas Leasing,” Michael Late Benedum Chapter, AAPL, Spring Meeting (2009)
- “Legal Issues on the Horizon,” North American Coalbed Methane Forum Annual Meeting (2009)
- “Due Diligence Transactions: Energy Acquisitions and Divestitures,” WV Desk & Derrick Annual Meeting (2009)
- “Recent Developments in the Oil & Gas Industry”
- “An Overview of Industry and Legal Issues Affecting the Coal Industry”
- “Pooling Under West Virginia’s Coalbed Methane Act”
- “Legal Issues with Leasing and Drilling Horizontal Wells”
- “Legal Issues Associated with Coalbed Methane Development”
- “Update on Pennsylvania Royalty Cases and Legislative Issues”
- “States Respond to Data Center Growth: Leaders Take Separate Paths in the Appalachian Basin,” Pittsburgh Business Times (April 13, 2026)
- “Royalties When Crypto Mining,” Oil & Gas Investor Magazine (August 2021)
- “Legal Issues Associated with Coalbed Methane Projects,“ Coal Bed Methane, From Prospect to Pipeline (2014)
- “National Survey of Pooling and Unitization Affecting Appalachian Shale Development,” Energy & Mineral Law Foundation (2010)
