Bill McAdam to retire as Aux Sable CEO - Tim Stauft to succeed
25 Sep, 2013, 04:00 ET
CALGARY, Sept. 25, 2013 /PRNewswire/ - The Board of Directors of Aux Sable Liquid Products Inc., Aux Sable Canada LP, and Aux Sable Midstream LLC (collectively "Aux Sable") announced today that William J. (Bill) McAdam, Aux Sable's President/Chief Executive Officer (CEO), plans to retire at the end of 2013 after 13 years of service. The Board also announced that Timothy L. (Tim) Stauft, Aux Sable Canada's President, will succeed Bill as CEO effective January 1, 2014.
"On behalf of the Board of Directors, I would like to thank Bill for his leadership, dedication and the significant contributions he has made during his tenure with Aux Sable," said Don Althoff, Chair of Aux Sable's Board of Directors. "Bill established a strong growth platform for Aux Sable and he has been instrumental in preparing the organization to capture continued opportunities in the midstream business. We wish Bill the very best in his retirement."
"I can truly say that leading Aux Sable from the time it commenced operations in December, 2000 has clearly been the highlight of my 39 year working career. I am very proud of our many accomplishments and incredibly thankful to my fellow employees who played key roles in achieving the success of the company", said Mr. McAdam. "I would also like to thank Aux Sable's Board of Directors for their sound advice and guidance with particular emphasis on their commitment to outstanding safety and environmental performance."
To provide for an orderly management transition, effective October 1, 2013, Tim will be appointed President of Aux Sable's US entities in addition to remaining President of its Canadian entities. Tim will continue to work closely with Bill in the coming months to ensure a seamless transition into his new role as CEO on January 1, 2014.
"Tim's appointment has been part of a planned leadership succession process and he brings an incredible depth of experience to this role," Mr. Althoff said. "Tim has the operational expertise, talent and a passion for the business to lead the Aux Sable organization and deliver on its strong value proposition."
Tim joined Aux Sable in 2005 as Vice-President, Supply and was named Executive Vice-President in 2006. He was appointed President of Aux Sable Canada LP in 2011 and Executive Vice-President: Aux Sable Liquid Products Inc., Aux Sable Midstream LLC in 2013. Tim has played a key role in developing Aux Sable's Canadian midstream gas processing and natural gas liquids business.
"I look forward to leading a solid organization with a dedicated and talented team. Together we will continue to grow the Aux Sable business while meeting or exceeding safety and environmental standards," said Mr. Tim Stauft.
Tim has extensive knowledge and over 30 years of experience in the natural gas and natural gas liquids business. He has held a variety of senior positions with Alberta Natural Gas Co. (sold to TransCanada Pipelines) and Purvin & Gertz Inc. Tim is a professional engineer and holds a Master of Business Administration degree from Queen's University.
About Aux Sable
For over 12 years, Aux Sable has delivered outstanding safety, environmental and operating results. The company now has operations in several locations in the United States and Canada.
Aux Sable USA
Aux Sable Liquid Products owns and operates one of the largest NGL extraction and fractionation plants in North America. The facility is located in Channahon, Illinois about 50 miles southwest of Chicago near the eastern terminus of the Alliance pipeline. The facility is capable of processing 2,100 mmcfd of gas and can produce about 102,000 barrels per day of specification NGL products. All of the Alliance gas is processed at the Channahon NGL Facility where Aux Sable has shipper contracts to extract the NGLs.
Aux Sable Midstream owns and operates the Palermo Conditioning Plant and the Prairie Rose Pipeline. The Prairie Rose Pipeline connects the Palermo Conditioning Plant to the Alliance Pipeline, which delivers high energy dense phase gas to Aux Sable's Channahon, Illinois Plant for NGL extraction and processing. ASM is pursuing other NGL processing and infrastructure midstream initiatives, primarily driven by the shale oil and shale gas developments in the Midwest and northeast United States.
Aux Sable Liquid Products and Aux Sable Midstream are both owned by Enbridge (42.7% equity interest), Veresen (42.7% equity interest) and Williams Partners (14.6% equity interest).
Aux Sable Canada
Aux Sable Canada is an active midstream gas processing company in Western Canada, primarily along the Alliance Pipeline corridor. Utilizing transportation on the Alliance dense phase gas pipeline, ASC provides value added solutions for producers to effectively develop and produce NGL rich gas reserves. Since inception, the company has successfully attracted rich gas to Alliance through inducements and new rich gas connections. ASC's strategy also includes building, owning and operating offgas processing facilities for the heavy oil upgrading and refining industry in Alberta.
Aux Sable Canada is owned by Enbridge (50% equity interest) and Veresen (50% equity interest). Enbridge and Veresen each own a 50% interest in the Alliance Pipeline.
For more information on Aux Sable, visit www.auxsable.com.
SOURCE Aux Sable Canada LP
Image with caption: "Bill McAdam to retire as Aux Sable CEO - Tim Stauft to succeed (CNW Group/Aux Sable Canada LP)". Image available at: http://photos.newswire.ca/images/download/20130925_C4525_PHOTO_EN_31350.jpg
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