DALLAS–(BUSINESS WIRE)–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.
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.