Energy Transfer LP

Energy Transfer LP

Energy Transfer LP

Overview
Date Founded

2005

Headquarters

3738 Oak Lawn Avenue,Dallas, TX 75219

Type of Company

Public

Employees (Worldwide)

11.8K

Industries

Oil & Gas

Company Description

Energy Transfer is a Texas-based company that began in 1995 as a small intrastate natural gas pipeline operator and is now one of the largest and most diversified investment grade master limited partnerships in the United States. Growing from roughly 200 miles of natural gas pipelines in 2002 to approximately 69,000 miles of natural gas, natural gas liquids (NGLs), refined products, and crude oil pipelines today, the Energy Transfer family of partnerships remains dedicated to providing exceptional service to its customers and attractive returns to its investors. Through several recent transformative transactions, we have expanded our scope of services and increased our focus on the transportation of heavier hydrocarbons. While we remain committed to the prolific natural gas industry, we enhanced our diversified portfolio of assets by making a strategic entrance into the NGL business through the acquisition of Louis Dreyfus’ NGL storage, fractionation and transportation operations in 2011. In 2012, we acquired Southern Union Company, a leading diversified natural gas company, which expanded our national footprint and added more than 20,000 miles of gathering and transportation pipelines to our portfolio. More recently, we made a strong entrance into the crude oil and refined products business by acquiring Sunoco, Inc., including its interest in Sunoco Logistics Partners L.P. (SXL). These acquisitions, together with our already robust asset base, have enabled Energy Transfer to become a premier provider of services to producers and consumers of natural gas, NGLs, crude oil, and refined products. To improve operating efficiencies within the Energy Transfer family, in October 2012 we formed ETP Holdco Corporation, which is owned 60% by ETE and 40% by ETP and controlled through a majority board membership by ETP. ETP Holdco owns a 100% equity interest in Southern Union Company and Sunoco, Inc. (excluding SXL)

Contact Data
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Executives & Employees

Chief Executive Officer

President, Director & Chief Commercial Officer

Chief Financial Officer

Chief Operating Officer

Executive Vice President General Counsel & President LNG

Executive Vice President Head of Tax

Senior Vice President, Controller & Principal Accounting Officer

Head-Investor Relations

Head-Media Relations

Board of Directors

Chief Executive Officer at Energy Transfer LP

Chief Financial Officer at Energy Transfer LP

President, Director & Chief Commercial Officer at Energy Transfer LP

Venture Partner at Natural Gas Partners LLC

Chief Operating Officer at Energy Transfer LP

Former Governor of Texas

President at Highland Park Village

Director of Sunoco Partners LLC at Energy Transfer Operating LP

Director at Energy Transfer LP

Former Vice President-Mergers & Acquisitions at Energy Transfer LP

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Energy Transfer LP
Owners & Shareholders
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Harvest Fund Advisors' principal investment area is energy and energy infrastructure assets with a particular focus on US master limited partnerships (MLPs). The firm employs fundamental, value-oriented, bottom-up research, analysis, and industry knowledge to generate alpha returns. The funds may be organized in the US or in a foreign jurisdiction as limited liability companies, limited partnerships, trusts, or offshore corporations, partnerships, trusts, or any other legal entity. For some of their clients or funds, Harvest Fund Advisors may purchase or sell derivatives instruments or swaps.

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Tortoise Capital Advisors' primary investment strategy is fundamentals based, long-only, with an emphasis on managing risk which they define as the potential for a permanent loss of capital. However, their investment strategies may include short-term purchases and trading where appropriate, as indicated by their fundamental and technical analysis. The firm may employ other strategies for investment company clients involving leveraging and hedging, or writing (selling) covered call options on selected equity securities in the client's portfolio. These other strategies may include currency hedging transactions and interest rate transactions such as swaps, caps and floors. Tortoise Capital Advisors evaluate companies operating in the entire energy value chain to gain a better understanding of the impact on the firm's respective investments. They have primary coverage on all midstream MLPs and pipeline c-corporations in the investment universe, and a majority of the large energy and power companies. Tortoise Capital Advisors have secondary coverage on all other MLPs, as well as a majority of the energy value chain in their investment universe.

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AAI offers innovative investment solutions designed to help advisors and investors build better portfolios. Through both their alternative investment products and access to specialty asset managers, the firm seeks to deliver portfolio solutions that allow investors to diversify their core holdings and obtain exposure to attractive investment themes. The firm's exposure to alternatives and specialty managers is achieved primarily through ETFs, exchange-traded products, closed-end funds and open-end funds with the goal of providing access that is registered, liquid and fully transparent. AAI currently does not research or actively recommend specific portfolio securities. Rather, the firm collects, validates and utilizes quantitative data and information from various sources with the goal of identifying one or more sub-advisors that are appropriate to their respective investment objectives and that provide an appropriate mix of diversified investment styles or alternatively through products that are passively managed, and track a designated index.

Recent Transactions
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Energy Transfer LP purchases SemGroup Corp.

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Energy Transfer LP purchases Energy Transfer Operating LP

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Energy Transfer LP purchases USA Compression GP LLC from USA Compression Holdings LLC

Insider Transactions
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Transaction Advisors
Legal Advisor

Advised onEnergy Transfer LP purchases Energy Transfer Operating LP

Investment Advisor

Advised onEnergy Transfer LP purchases Southern Union Co.

Legal Advisor

Advised onEnergy Transfer LP purchases Energy Transfer Operating LP

Legal Advisor

Advised onEnergy Transfer LP purchases Southern Union Co.

Legal Advisor

Advised onEnergy Transfer LP purchases Southern Union Co.

Legal Advisor

Advised onEnergy Transfer LP purchases Southern Union Co.

Advisors & Consultants
Legal Advisor

Partner at Latham & Watkins LLP

Legal Advisor

Partner at Vinson & Elkins LLP

Legal Advisor

Partner at Weil, Gotshal & Manges LLP

Clients

Headquartered in Findlay, Ohio in the heart of the Midwest, Marathon Petroleum Corporation (MPC) is the name of the parent company which includes several subsidiary companies including Marathon Petroleum Company LP, Marathon Pipe Line LLC, and Speedway LLC. MPC is the nation’s fifth largest refiner and the largest refiner in the Midwest. MPC’s refining, marketing and transportation operations are concentrated primarily in the Midwest, Gulf Coast and Southeast regions of the U.S. MPC operations are strategically located to serve major markets. They include a six-plant refining network, a comprehensive terminal and transportation system, and extensive wholesale and retail marketing operations. This includes both the Marathon Brand and MPC’s wholly owned retail marketing subsidiary, Speedway LLC, the nation’s fourth largest chain of company-owned and operated retail gasoline and convenience stores.

WEC Energy Group, Inc. is a holding company, which engages in the generation and distribution of electricity and natural gas. It operates through the following segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure and Corporate & Other. The Wisconsin segment refers to the electric and gas utility operations. The Illinois segment deals with natural gas utility and non-utility activities. The Other States segment pertains to natural gas operations of the firm's subsidiaries. The Electric Transmission segment holds interests in state regulatory commissions. The Non-Utility Energy Infrastructure segment includes Wisconsin Electric Power, which owns and leases generating facilities. The Corporate and Other segment refers to the firm's administrative and holding activities. The company was founded in 1981 and is headquartered in Milwaukee, WI.

outhwestern Energy Company is a growing independent energy company primarily engaged in natural gas and crude oil exploration, development and production within North America. We are also focused on creating and capturing additional value through our natural gas gathering and marketing businesses, which we refer to as Midstream Services. Exploration and Production - Our primary business is the exploration for and production of unconventional oil and natural gas. Our current operations are principally focused on development of unconventional oil and natural gas in the Fayetteville Shale in Arkansas, the Marcellus Shale in Pennsylvania, the Brown Dense in Arkansas and Louisiana and other new venture plays in North America. We primarily conduct our exploration and production operations through our wholly-owned subsidiaries, SEECO, Inc. and Southwestern Energy Production Company, or SEPCO. SEECO has historically operated exclusively in Arkansas. It holds a large base of both developed and undeveloped gas reserves in Arkansas and conducts the drilling programs for the Fayetteville Shale play and the conventional drilling program in the Arkansas part of the Arkoma Basin. SEPCO conducts development drilling and exploration programs in the Oklahoma portion of the Arkoma Basin, Texas, Pennsylvania, Louisiana, Colorado and Montana. SWN Drilling, a wholly-owned subsidiary of SEPCO, operates drilling rigs in the Fayetteville Shale play, Pennsylvania and Louisiana. Midstream Services - Our Midstream Services segment primarily supports our E&P operations and is currently concentrated on the Fayetteville Shale play. Midstream Services generates revenue from gathering fees associated with the transportation of natural gas to market and through the marketing of our own gas production and some third-party natural gas. We engage in gas gathering activities in Arkansas, Pennsylvania and Texas through our gathering subsidiaries, DeSoto Gathering Company, L.L.C. and Angelina Gathering Company, L.L.C. Our gas marketing subsidiary, Southwestern Energy Services Company, or SES, captures downstream opportunities which arise through marketing and transportation activity.

Key Stats and Financials As of 2019
Market Capitalization
$32.6B
Total Enterprise Value
$98.5B
Earnings Per Share
$1.36
Revenue
$54.2B
Net Profit
$3.59B
EBITDA
$10.5B
EBITDAMargin
19.36%
Total Debt
$51.9B
Total Equity
$34.6B
Enterprise Value Sales
1.82x
Enterprise Value EBITDAOperating
9.3x
TEVNet Income
27.46x
Debt TEV
0.53x
Non-Profit Donations & Grants
$215K
2011
Investors
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The Stephens Group seeks to invest in private and public companies that operate in growing industries and have exceptional management teams. The firm invests across a variety of sectors including energy, agriculture/materials, industrials, consumer goods, media, healthcare, financials, information technology and telecommunications. They provide capital for growth equity, recapitalizations and LBOs. Investments typically range from $5 million to $75 million, although the firm has the ability to invest in larger transactions. The Stephens Group is comfortable taking either majority or minority ownership stakes and also seeks to invest in tax-advantaged pass-through entities such as LLCs and S corporations. They typically take a seat on their portfolio companies' Boards of Directors but do not participate in the businesses' day-to-day management

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Denham Capital invests in companies located in the US. The firm participates in buyout capital requirements. Denham Capital targets companies in sectors such as energy resources, oil & gas, mining and international power.

Suppliers
Range Resources - Louisiana, Inc. Oil & Gas | Fort Worth, TX

Range Resources - Louisiana, Inc. engages in acquisition, exploration and development of natural gas and oil properties with a majority of activity in the Terryville Complex of North Louisiana. It targets over pressured liquids rich natural gas opportunities in multiple zones in the Cotton Valley formation. The company operates through MRD and MEMP segments. The MRD segment reflects the combined operations of the company, MRD Operating, MRD LLC, WildHorse Resources and its previous owners Classic and Classic GP, Black Diamond, BlueStone, Beta Operating and MEMP GP. The MEMP segment reflects the combined operations of MEMP its previous owners and certain historical dropdown transactions that occurred between MEMP and other MRD LLC consolidating subsidiaries. The company was founded on January, 2014 and is headquartered in Houston, TX.

Caterpillar, Inc. Engineering, Construction & Architecture | Deerfield, IL

For more than 85 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. With 2011 sales and revenues of $60.138 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services and Progress Rail Services.

Harsco Corp. Industrial Machinery & Manufacturing | Camp Hill, Pennsylvania

Our globally scalable businesses serve major, long-term industries that are fundamental to worldwide infrastructure and economic development. Now, we’re taking Harsco to the next level. As we expand our solutions and extend our global base, we’re doing so as one team, under one name. Our new identity projects the scale, depth and focus of a world leader. It captures the spirit of a dynamic company on the rise—one whose vital solutions power economic growth in markets around the world. And it unifies our people, inspiring us to work together—and with our customers—to engineer greater value in everything we do. Harsco’s core purpose is "To build teams that win with integrity anywhere in the world." Our teams include customers, employees, shareholders, and suppliers. Winning means creating and capturing value, being the best, and sustaining superior performance. And we will win with integrity: by being ethical in thought, word, and deed; having disciplined people who practice disciplined thought and action; and by maintaining openness and transparency in fulfilling our duties and responsibilities as a global corporate citizen

Competitors
Kinder Morgan, Inc. Oil & Gas - Houston, TX

Kinder Morgan, Inc. is an energy infrastructure company, which engages in the operation of pipelines and terminals that transport natural gas; gasoline; crude oil; carbon dioxide (CO2) and other products and stores petroleum products chemicals; and handles bulk materials like ethanol, coal, petroleum coke and steel. The firm operates through the following segments: Natural Gas Pipelines, CO2, Terminals, Product Pipelines, and Kinder Morgan Canada. The Natural Gas Pipelines segment engages in the ownership and operation of major interstate and intrastate natural gas pipeline and storage systems, natural gas and crude oil gathering systems, and natural gas processing and treating facilities. The CO2 segment focuses on the production, transportation, and marketing of CO2 to oil fields that use CO2 as a flooding medium for recovering crude oil from mature oil fields to increase production. The Terminals segment consists of the ownership and operation of liquids and bulk terminal facilities located throughout the U.S. and portions of Canada that transload and store refined petroleum products, crude oil, chemicals, ethanol and bulk products, including coal, petroleum coke, fertilizer, steel and ores. The Products Pipelines segment owns and operates refined petroleum products, NGL and crude oil and condensate pipelines that primarily deliver, among other products, gasoline, diesel and jet fuel, propane, crude oil, and condensate to various markets. The Kinder Morgan Canada segment operates the Trans Mountain pipeline system that transports crude oil and refined petroleum products from Edmonton, Alberta, Canada for marketing terminals and refineries in British Columbia, Canada and the state of Washington. The company was founded by Richard D. Kinder and William V. Morgan in February 1997 and is headquartered in Houston, TX.

ConocoPhillips Oil & Gas - Houston, TX

ConocoPhillips has a time-honored tradition of placing safety, health and environmental stewardship at the top of our operating priorities. This will not change as we move forward as an independent company. Our technical capability, asset quality and scale, and financial strength are unmatched among independent upstream companies and uniquely position us to compete anywhere in the world. While North America is our home and provides the majority of our production, we are active in almost 30 countries and in a wide range of geologic and geographic settings, including some of the world’s most challenging areas. From the frozen Arctic to the arid desert, we have a proven track record of responsibly and efficiently exploring for and producing oil and natural gas. Our production streams include light oil, heavy oil, oil sands, natural gas liquids, conventional natural gas, coalbed methane, shale gas and oil, and liquefied natural gas (LNG). By combining our legacy strengths with the focus and culture of an independent company, we believe we can unlock potential for all our stakeholders by helping to meet the world’s energy needs. Our highly skilled and dedicated workforce of over 16,000 employees embraces this opportunity. We look forward to sharing our exciting future with you and invite you to learn more about us

Marathon Petroleum Corp. Oil & Gas - Findlay, Ohio

Headquartered in Findlay, Ohio in the heart of the Midwest, Marathon Petroleum Corporation (MPC) is the name of the parent company which includes several subsidiary companies including Marathon Petroleum Company LP, Marathon Pipe Line LLC, and Speedway LLC. MPC is the nation’s fifth largest refiner and the largest refiner in the Midwest. MPC’s refining, marketing and transportation operations are concentrated primarily in the Midwest, Gulf Coast and Southeast regions of the U.S. MPC operations are strategically located to serve major markets. They include a six-plant refining network, a comprehensive terminal and transportation system, and extensive wholesale and retail marketing operations. This includes both the Marathon Brand and MPC’s wholly owned retail marketing subsidiary, Speedway LLC, the nation’s fourth largest chain of company-owned and operated retail gasoline and convenience stores.

Awards & Honors
Rank #65
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
Rank #65
2016
Fortune Magazine - Fortune 500 Companies
Sponsored by Fortune Magazine
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