Energy Transfer Equity, L.P. (NYSE: ETE) and Energy Transfer Partners,
L.P. (NYSE: ETP) announced that effective today, Marshall (Mackie) S.
McCrea, formerly President and Chief Operating Officer of ETP, has been
promoted to Group Chief Operating Officer and Chief Commercial Officer
for ETE. Also effective today is the appointment of long-time ETE board
member, Matthew S. Ramsey as President and Chief Operating Officer of
ETP.
In his new role, Mr. McCrea, who has been instrumental in ETP’s success,
is responsible for the oversight and development of all commercial and
strategic opportunities for the entire family of midstream partnerships.
Prior to his appointment as ETP president in 2008, McCrea held a number
of senior management positions within the partnership including
President of Energy Transfer Company, a subsidiary of ETP, and Senior
Vice President of business development. McCrea began his career in the
energy industry in 1983.
Mr. Ramsey, who has more than 35 years of experience in the energy
industry, has served on the board of directors of ETE since 2012 and as
Chairman of the board of Energy Transfer-owned Sunoco LP (NYSE: SUN)
since 2014. He now leads ETP’s commercial activities along with the
operations, engineering, construction, and compression business
segments, all of which will benefit from his track record of building
and managing successful companies and his extensive knowledge of the
Energy Transfer family. Prior to joining ETP, Ramsey served as president
of Houston-based RPM Exploration Ltd., a private oil and gas exploration
partnership.
Energy Transfer Equity, L.P. (NYSE: ETE) is a master
limited partnership which owns the general partner and 100% of the
incentive distribution rights (IDRs) of Energy Transfer Partners,
L.P. (NYSE: ETP) and Sunoco LP(NYSE: SUN) and approximately 2.6 million
ETP Common Units, approximately 81.0 million ETP Class H Units, which
track 90% of the underlying economics of the general partner interest
and the IDRs of Sunoco Logistics Partners L.P. (NYSE: SXL), and 100 ETP
Class I Units. On a consolidated basis, ETE’s family of companies owns
and operates approximately 71,000 miles of natural gas, natural gas
liquids, refined products, and crude oil pipelines. For more
information, visit the Energy Transfer Equity, L.P. web site at www.energytransfer.com.
Energy Transfer Partners, L.P. (NYSE: ETP) is a master
limited partnership owning and operating one of the largest and most
diversified portfolios of energy assets in the United States. ETP’s
subsidiaries include Panhandle Eastern Pipe Line Company, LP (the
successor of Southern Union Company) and Lone Star NGL LLC, which owns
and operates natural gas liquids storage, fractionation and
transportation assets. In total, ETP currently owns and operates more
than 62,500 miles of natural gas and natural gas liquids pipelines. ETP
also owns the general partner, 100% of the incentive distribution
rights, and approximately 67.1 million common units in Sunoco Logistics
Partners L.P. (NYSE: SXL), which operates a geographically diverse
portfolio of crude oil and refined products pipelines, terminalling and
crude oil acquisition and marketing assets. Additionally, ETP owns fuel
distribution and retail marketing assets and approximately 50.8% of the
limited partner interests in Sunoco LP (formerly Susser Petroleum
Partners LP) (NYSE: SUN), a wholesale fuel distributor and convenience
store operator. ETP’s general partner is owned by Energy Transfer
Equity, L.P. (NYSE: ETE). For more information, visit the Energy
Transfer Partners, L.P. web site at www.energytransfer.com.
Forward-Looking Statements
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject to a
variety of known and unknown risks, uncertainties, and other factors
that are difficult to predict and many of which are beyond management’s
control. An extensive list of factors that can affect future results are
discussed in the Partnership’s Annual Reports on Form 10-K and other
documents filed from time to time with the Securities and Exchange
Commission. The Partnership undertakes no obligation to update or revise
any forward-looking statement to reflect new information or events.
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