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John Fox

John Fox, Founder, former Chairman and CEO of MarkWest Energy Partners, issues open letter to the board of directors of Marathon Petroleum Corporation supporting recent decisions and the appointment of Michael Hennigan as CEO- oil and gas 360

John Fox, Founder, former Chairman and CEO of MarkWest Energy Partners, issues open letter to the board of directors of Marathon Petroleum Corporation supporting recent decisions and the appointment of Michael Hennigan as CEO

March 31, 2020

PR Newswire DENVER, March 30, 2020 /PRNewswire/ — John M. Fox, beneficial owner of 1,427,826 common units of MPLX LP and 62,583 shares of Marathon Petroleum Company, today released the following open letter to the board of directors of Marathon Petroleum Corporation (MPC) and MPLX LP (MPLX) outlining his support of management. Mr. Fox believes that recent decisions to appoint Michael Hennigan as CEO of MPC,

Enbridge and Spectra Energy Eliminate Incentive Distribution Rights

January 22, 2018

Enbridge Inc. (ticker: ENB) and Spectra Energy Partners, LP (ticker: SEP) announced today their execution of a definitive agreement resulting in Enbridge converting all of its incentive distribution rights (IDRs) and general partner (GP) economic interests in Spectra Energy Partners into 172.5 million newly issued SEP common units. As part of the transaction, all of the IDRs have been eliminated.

U.S. Refinery Capacity Breaks 1981 Record: EIA - Oil & Gas 360

Fox to Marathon: Don’t Put MPLX in the Penalty Box

January 30, 2017

MarkWest Co-Founder John Fox confirms stance that Marathon Petroleum should eliminate IDRs before refinery dropdowns John M. Fox, co-founder and former chairman and CEO of MarkWest Hydrocarbon, which merged with Marathon Petroleum’s MPLX LP (ticker: MPLX) in December 2015, issued a press release today reaffirming his stance against Marathon Petroleum Company’s (ticker: MPC) proposed January 3, 2017 plan. Fox said

U.S. Refinery Capacity Breaks 1981 Record: EIA - Oil & Gas 360

John Fox, Co-Founder of MarkWest Hydrocarbon, Issues Open Letter To MPC Board

January 11, 2017

John Fox, Co-Founder Of MarkWest Hydrocarbon, Issues Open Letter To The Board Of Directors Of Marathon Petroleum Corporation Against MPC’s Proposed January 3, 2017 Plan And Offers New Plan -Accelerated “dropdown” of refining assets hurts long-term MPC value and vastly diminishes growth prospects at MPLX that results in increased cost of capital  -MPC needs to execute the IDR elimination plan

MarkWest Energy: Anatomy of a Bad Deal

December 2, 2015

MarkWest Energy:  Sold.  “For Pennies on the Dollar.”  Unitholders Say “No” on Management Bonus Payments MarkWest Energy Partners (ticker: MWE) distributed a news release announcing that unitholders approved the merger with MPLX (ticker: MPLX), an MLP created by Marathon Petroleum (ticker: MPC).  From the MarkWest news release:  “Based on the voting results, approximately 80 percent of the units voted at

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