Energy Trasfer Partners Ipo

Energy trasfer partners ipo

Energy Transfer Partners (now legally Energy Transfer Operating L.P.) is a company engaged in natural gas and propanepipeline transport.

Energy trasfer partners ipo

It is organized in Delaware and headquartered in Dallas, Texas. It was founded in 1995 by Ray Davis and Kelcy Warren, who remains Chairman and CEO.[2][3] It owns a 36.4% interest in Dakota Access, LLC, the company responsible for developing the controversial Dakota Access Pipeline.[1][4]

Corporate structure[edit]

The company owns 100% of the incentive distribution rights and 28,463,967 common units in Sunoco LP and 100% of Sunoco Logistics Partners Operations L.P., the general partner of USA Compression Partners L.P., 100% of Lake Charles LNG, which owns an LNG import terminal and regasification facility near Lake Charles, Louisiana, 9,400 miles (15,100 km) of natural gas transportation pipelines with approximately 21 billioncubic feet (590 million cubic meters) per day of transportation capacity and 3 natural gas storage facilities in the state of Texas and 12,200 miles (19,600 km) of interstate natural gas pipelines with approximately 10.3 billion cu ft (290 million m3) per day of transportation capacity, 36.4% of the Dakota Access Pipeline and the Energy Transfer Crude Oil Pipeline, 60% of the Bayou Bridge Pipeline, 50% of Florida Gas Transmission, 100% of the Transwestern Pipeline, 100% of the Panhandle Eastern, 100% of the Sea Robin Pipeline, and 32.6% of the Rover pipeline.[1]

History[edit]

The company was founded by Kelcy Warren and Ray Davis in 1995.[2]

In 2011 Energy Transfer Partners and Regency Energy Partners purchased from Castleton Commodities International's midstream assets for $2 billion.[5]

In October 2012, Sunoco, Inc.

became a wholly owned subsidiary of the company. It acquired the general partner interests, 100% of the incentive distribution rights, and a 32.4% limited partnership interest in Sunoco Logistics Partners L.P., which operates a geographically diverse portfolio of crude oil and refined products pipelines, terminating and crude oil acquisition and marketing assets.[1]

In 2012, the company acquired Southern Union Company.

Analysts expect these energy stocks to rise the most in 2018 as oil rebounds

In August 2014, the company acquired Susser Holdings Corporation, which operated Stripes, a chain of 580+ convenience stores in Texas, New Mexico, and Oklahoma, which were re-branded under the Sunoco and A-Plus names.[6]

In January 2015, the company acquired Regency Energy Partners for $11 billion.[7]

In October 2018, the company was renamed as Energy Operating L.P.

after it was acquired by Energy Transfer Equity.[8]

In September 2019, the company acquired SemGroup for $5 billion.[9]

In January 2020, former Energy Secretary Rick Perry rejoined the company's board.[10]

Dakota Access Pipeline[edit]

Main articles: Dakota Access Pipeline and Dakota Access Pipeline protests

Dakota Access, LLC is owned 36.4% by the company[1] and built the Bakken pipeline, also known as the Dakota Access Pipeline.[4][11] In April 2016, the United States Environmental Protection Agency, United States Department of the Interior, and Advisory Council on Historic Preservation requested a full Environmental Impact Statement of the pipeline.[12] In July 2016, the Standing Rock Sioux Tribe filed an injunction against the US Army Corps of Engineers to stop building the pipeline.[13][14] A group of young activists from Standing Rock ran from North Dakota to Washington, D.C.

to present a petition in protest of the construction of the pipeline and launched an international campaign called ReZpect Our Water.[15] In October 2016, Dakota Access Pipeline protests erupted at a construction site near the Cannonball River in North Dakota, resulting in the arrest of hundreds and the use of force by a private security company, North Dakota State and county police, and the New Mexico National Guard.[16]

In August 2017, Energy Transfer sued environmental groups Greenpeace, BankTrack and Earth First!

Energy Transfer Partners to Buy Sunoco for $5.3 Billion

under the Patriot Act.[17] Energy Transfer accused these activists of attempting to profit via eco-terrorism.[18] Banktrack responded that the case is a strategic lawsuit against public participation without merit and that it is legal to inform the public and banks about projects with 'actual negative social, environmental and human rights impacts.'[19]

References[edit]

  1. ^ abcde"Energy Transfer Operating L.P.

    2018 Form 10-K Annual Report".

    U.S. Securities and Exchange Commission.

  2. ^ abSizemore, Charles. "Kelcy Warren". Forbes.
  3. ^"Kelcy L. Warren". Bloomberg L.P.
  4. ^ abO'Connell, Patrick M.

    Energy trasfer partners ipo

    (January 4, 2018). "Dakota Access pipeline a mix of angst, potential for those near central Illinois tank farm". Chicago Tribune.

  5. ^Mason, Josephine; Craft, Diane (11 May 2015). "TIMELINE-Castleton: From Louis Dreyfus energy arm to commodities powerhouse" (Fund News).

    Energy trasfer partners ipo

    New York, N.Y., United States: Reuters. Thompson Reuters. Retrieved 1 September 2019.

  6. ^"Energy Transfer Partners and Susser Holdings Announce Successful Completion of Merger". Business Wire (Press release). August 29, 2014.
  7. ^Gopinath, Swetha (January 26, 2015).

    Navigation menu

    "Energy Transfer Partners to buy Regency unit for $11 billion". Reuters.

  8. ^Morwa, Rida (4 December 2018). "Energy Transfer LP: Safe 8.5% Yield And Enormous Upside Potential". Seeking Alpha. Retrieved 5 December 2018.
  9. ^"Energy Transfer to acquire SemGroup in $5-billion deal".

    Oil & Gas Journal.

    Best trading platform eu

    2019-09-16. Retrieved 2019-09-25.

  10. ^"Ex-Energy Secretary Rick Perry rejoins Energy Transfer's board". Dallas News.

    Energy Transfer Partners, L.P. Announces Pricing of Series D Preferred Unit Offering

    2020-01-04. Retrieved 2020-01-05.

  11. ^Petroski, William (25 August 2014). "Should farmers make way for the Bakken pipeline?". Iowa City Press-Citizen.
  12. ^"Dakota Access Pipeline: Three Federal Agencies Side With Standing Rock Sioux, Demand Review".

    Indian Country Today Media Network. 28 April 2016. Archived from the original on 4 September 2016. Retrieved 6 September 2016.

  13. ^"Standing Rock Sioux Tribe v.

    U.S. Army Corps of Engineers: Complaint for Declaratory and Injunctive Relief"(PDF) (1:16-cv-01534-Document 1). United States District Court for the District of Columbia. 27 July 2016.

  14. ^"Standing Rock Sioux Tribe v. U.S. Army Corps of Engineers: Memorandum in Support of Motion for Preliminary Injunction Expedited Hearing Requested"(PDF) (1:16-cv-1534-JEB).

    Energy trasfer partners ipo

    United States District Court for the District of Columbia. 4 August 2016. Archived from the original(PDF) on 7 August 2016.

    Energy trasfer partners ipo

    Retrieved 6 September 2016.

  15. ^Amundson, Barry (29 July 2016). "Standing Rock tribe sues over Dakota Access pipeline permits".

    Energy Transfer LP

    Grand Forks Herald.

  16. ^Tolan, Sandy (October 28, 2016). "North Dakota pipeline activists say arrested protesters were kept in dog kennels".

    Energy trasfer partners ipo

    Los Angeles Times.

  17. ^Volcovici, Valerie (August 22, 2017). "Energy Transfer sues Greenpeace over Dakota pipeline". Reuters.
  18. ^Harris, Andrew M.; Loh, Tim (August 22, 2017).

    What is the tether cryptocurrency

    "Energy Transfer Suit Claims Greenpeace Incites Eco-Terrorism". Bloomberg News.

  19. ^"BankTrack statement on Dakota Access Pipeline lawsuit filed by ETP/ETE". BankTrack.

External links[edit]