Kelcy Warren, the executive chairman of Energy Transfer, has made
significant moves in the energy sector recently. Following a $7 billion
acquisition to expand the company’s oil and gas pipeline network, Warren
purchased an additional 3 million shares of Energy Transfer for nearly $40
million. This transaction was completed over three separate deals last week and
this week, according to regulatory filings.
He co-founded Energy Transfer in 1996 and has continued to deepen his
financial commitment to the company. His recent share purchase brings his total
holdings to over 103 million shares, representing an investment of just under
$950 million since January 2018. This substantial stake underscores Warren’s
confidence in Energy Transfer’s ongoing growth and market position.
Energy Transfer’s share price was $13 at midday on Tuesday, aligning with Warren’s most recent
purchase price. His net worth, estimated at over $5.6 billion, is largely
derived from his holdings in the company, which forms a critical part of his
investment portfolio.
The recent $7.1 billion acquisition of Crestwood Equity Partners by Kelcy Warren, further bolsters Energy Transfer’s infrastructure.
The deal includes $3.3 billion in debt and will enhance the company’s assets in
various oil and gas basins, including the Williston, Delaware, and Powder River
basins. This expansion adds significant capacity for gas and crude oil
processing and storage, reinforcing Energy Transfer’s position as a key player
in the U.S. energy landscape.
Energy Transfer now operates nearly 125,000 miles of pipeline across 41 states. The company
reported nearly $90 billion in revenue and around $6 billion in profit for
2022, making it one of the largest public companies in the Dallas-Fort Worth area.
Kelcy Warren’s continued investments in Energy Transfer reflect his strategic approach to
maintaining and growing the company’s market dominance. With substantial acquisitions
and a robust pipeline network, Energy Transfer is well-positioned for future
growth. Refer to this article to learn more.
More about Kelcy Warren on https://www.dmagazine.com/publications/d-ceo/2023/november/how-kelcy-warrens-pipeline-dream-powered-a-nation/