HOUSTON, July 26, 2016 /PRNewswire/ -- Midstream Business magazine will highlight the recipients of its 2015 Excellence Awards in its upcoming July-August issue. The awards will be presented as part of Hart Energy's 2nd annual MIDSTREAM Texas conference and exhibition, September 12-14 at the Henry B. Gonzalez Convention Center in San Antonio, TX.
"The past year was difficult for the midstream sector," said Paul Hart, Midstream Business' Editor-in-Chief. "We welcome this opportunity to honor those executives whose organizations excelled despite a very challenging business environment. Their achievements demonstrate the resilience the U.S. oil and gas industry is known for."
Midstream Business' editors reviewed readers' nominations to select the recognized companies, deals and individuals.
The Honorees are:
Executive of the Year: A.J. "Jim" Teague, CEO and director, Enterprise Products Partners LP
Jim Teague leads the No. 3 firm on Midstream Business' Midstream 50 list for 2015. Enterprise is the nation's second-largest master limited partnership (MLP) with 2015 EBITDA of $5.9 billion on revenues of $42.1 billion. Their assets at year-end stood at $71.2 billion. An early player among midstream MLPs, Enterprise estimates it has achieved some $35 billion of organic growth projects and made $26 billion of major acquisitions since its IPO in 1998. Currently, it has roughly $6.1 billion in capital growth projects under way. Enterprise operates 49,000 miles of crude oil, natural gas, NGL and products pipelines; 24 gas processing plants and 22 fractionators; plus significant salt dome storage for crude, gas, NGL and refined products.
Deal of the Year: The MPLX LP acquisition of MarkWest Energy Partners LP
Closed in December 2015, the $15.7 billion MLPLX/MarkWest combination ranked as the year's "midstream megadeal," by Midstream Monitor. The combined operation created significant synergies, giving MPLX the opportunity to become a major player in the rapidly growing Marcellus and Utica plays. MarkWest ranked as the second-largest gas processor in the nation in a recent Midstream Business survey, and the largest gas processor in the Appalachian shale plays. MPLX, in turn, is a major pipeline operator in the region and directly serves seven Midwest refineries, including three owned by its parent, Marathon Petroleum Corp.
Project of the Year: Alpha Crude Connector LLC (ACC), a joint venture between Frontier Energy Services LLC and Concho Resources Inc.
Built at a cost of more than $250 million, ACC is a common carrier, 400-mile crude pipeline gathering system that serves the northern end of the prolific Delaware Basin of Texas and New Mexico. It began service in late 2015. It can move over 100,000 barrels per day (bbl/d) to downstream customers — delivering crude into four pipelines that serve the Midland, Texas, and Cushing, Oklahoma crude markets; local refinery demand; and a rail terminal. The system has 320,000 bbl/d of storage, plus a four-bay truck terminal. The partners designed the system for expansion and added multiple customers during a series of open seasons.
About Hart Energy
For more than 40 years, Hart Energy editors and experts have delivered market-leading insights to investors and energy industry professionals. The Houston-based company produces award-winning magazines (such as Oil and Gas Investor, E&P and Midstream Business); online news and data services; in-depth industry conferences (like the DUG™ series); GIS data sets and mapping solutions; and a range of research and consulting services. For information, visit hartenergy.com.
Contact: Gabe Geller
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SOURCE Hart Energy