CEQP

26.25
EXCHANGE NYSE (US Dollar)
CHANGE(%)
+0.75 (+2.94%)
Volume 509,568 February 24, 2017

Overview

Crestwood Equity Partners LP (NYSE: CEQP) is a publicly traded master limited partnership that owns and operates midstream assets located primarily in the Marcellus Shale, Bakken Shale, Delaware Permian Basin, PRB Niobrara Shale, Barnett Shale and Fayetteville Shale. Our operations and financial results are divided into three segments that include Gathering & Processing, Storage & Transportation and Marketing, Supply & Logistics. Across our three segments Crestwood is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminalling and marketing of NGLs; gathering, storage, transportation, terminalling and marketing of crude oil.

Our goal is to create long-term value for our unitholders by delivering increasing distributable cash flow through organic expansion, development projects and acquisitions, while at the same time ensuring the ongoing stability of our business. We aim to provide the highest quality of customer service while maintaining focus on safety, compliance and the environment.

Crestwood Organizational Structure

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Management

Robert G. Phillips , ,

, CHAIRMAN, PRESIDENT AND CHIEF EXECUTIVE OFFICER

Robert G. Phillips was appointed Chairman, President and Chief Executive Officer of Crestwood Gas Services GP LLC in October 2010 and of Crestwood Equity GP LLC (formerly Inergy GP, LLC) and Crestwood Midstream GP LLC (formerly NRGM GP, LLC) in June 2013. Mr. Phillips was previously the President and Chief Executive Officer of Enterprise Products Partners L.P. He has served as Chairman and Chief Executive Officer of GulfTerra Energy Partners, L.P., and he was the Chairman, President and Chief Executive Officer of Eastex Energy, Inc. Mr. Phillips has previously served as a director and a member of the audit committee of Pride International, Inc. and as a director of Enterprise Products Partners L.P. and Enterprise GP Holdings L.P. He is currently serving on the board of directors of Bonavista Energy Corporation (TSX:BNP).

Heath Deneke , ,

, CHIEF OPERATING OFFICER & PRESIDENT, PIPELINE SERVICES GROUP

Heath was appointed President of the Natural Gas business unit upon closing of the Inergy/Crestwood merger and was promoted to Chief Operating Officer of the Pipeline Services Group in June 2015. In this role, his is responsible for the commercial development and operations of Crestwood’s midstream assets located in the Marcellus, Bakken, PRB Niobrara, Delaware Permian, Barnett, Granite Wash, Fayetteville and Haynesville shale plays. Additionally, he guides Crestwood’s technical services, environmental, safety, regulatory compliance and supply chain teams. Heath has a broad experience base spanning commercial and business development, project development and engineering, sales and marketing and asset optimization. He joined Crestwood in May 2012 following a 17-year career at El Paso Corporation and its predecessor companies. He is currently serving on the board of directors of Bay West LLC. Heath has a bachelor's degree in Mechanical Engineering from Auburn University. He is based in Houston, Texas.

Bill Gautreaux , ,

, CHIEF MARKETING OFFICER & PRESIDENT, SUPPLY & LOGISTICS GROUP

Bill was appointed President of the Liquids & Crude business unit upon closing of the Inergy/Crestwood merger and was promoted to Chief Marketing Officer of the Supply and Logistics Group in June 2015. Mr. Gautreaux is responsible for consolidating Crestwood’s NGL and Crude marketing activities, including trucking, rail, and facility assets, and leading its growth strategies around the Crestwood platform including the Marcellus Utica NGL supply region; Northeast US NGL market region; West Coast NGL assets; US NGL and Crude trucking and transportation assets; and Crestwood’s crude marketing focus in the Bakken, PRB Niobrara and Delaware Permian regions. Bill is a founding partner of Inergy LP and led the development of its wholesale propane procurement and distribution activities prior to building the crude oil and gas liquids business known as Inergy Services, which he has presided over since 1998. He brings 28 years of experience in NGL trading and marketing having worked at Dynegy, LPG Services Group and Ferrell Gas North America in positions of increasing responsibility. Bill has a bachelor's degree from William Jewell College and is based in Kansas City, Missouri.

Steven Dougherty , ,

, SENIOR VICE PRESIDENT & CHIEF ACCOUNTING OFFICER

Steven is Senior Vice President & Chief Accounting Officer overseeing accounting and controls, internal and external reporting, internal audit, and tax. Steven was previously Interim Chief Financial Officer and Chief Accounting Officer of Crestwood. Steven joined Crestwood in June 2012 following an 11-year career at El Paso Corporation as Director of Corporate Accounting. Previously, he worked in public accounting at KPMG LLP for seven years. Steven holds a master's of public accounting from the University of Texas at Austin. Steven is based in Houston, Texas.

Robert Halpin , ,

, SENIOR VICE PRESIDENT & CHIEF FINANCIAL OFFICER

Robert was appointed Senior Vice President and Chief Financial Officer in April 2015. In this role, Robert is responsible for overseeing Crestwood's capital structure and financial strategy, risk management, treasury and investor relations functions. Robert joined Crestwood in 2012 and has served as both Vice President of Finance and Vice President of Business Development for Crestwood. Prior to joining Crestwood, Robert served as an Associate at First Reserve and an investment banker in the Global Natural Resources Group at Barclays Capital. Robert has a bachelor's degree in Finance from The University of Texas at Austin. He is based in Houston, Texas.

Joel Lambert , ,

, SENIOR VICE PRESIDENT & GENERAL COUNSEL AND CORPORATE SECRETARY

Joel was appointed Senior Vice President & General Counsel and Corporate Secretary upon closing of the Inergy/Crestwood merger. Joel was most recently Vice President, Legal, at First Reserve, where he joined in 2007, and served on Crestwood's board of directors since 2010. Prior to joining First Reserve, he was an attorney in the Business and International Section of Vinson & Elkins LLP. Previously, he was an Intern in the Texas Supreme Court as well as a Military Intelligence Specialist for the United States Army. Joel holds a bachelor's degree in Environmental Design from Texas A&M University and a J.D. from the University of Texas School of Law. He is based in Houston, Texas.

Will Moore , ,

, SENIOR VICE PRESIDENT, STRATEGY & CORPORATE DEVELOPMENT

Will was appointed Senior Vice President, Strategy & Corporate Development upon closing of the Inergy/Crestwood merger. In this role, Will is focused on growth opportunities including transaction origination and execution to support the partnership's strategic goals. Will joined Inergy in 2005 as a legal analyst and has held various positions in corporate and business development. Most recently, he served as Vice President, Corporate Development. Will holds an M.B.A from Fort Hays State University, and a J.D. from the University of Kansas School of Law. He is based in Kansas City, Missouri.

Board of Directors

Robert G. Phillips , ,

, CHAIRMAN, PRESIDENT AND CHIEF EXECUTIVE OFFICER

Robert G. Phillips was appointed Chairman, President and Chief Executive Officer of Crestwood Gas Services GP LLC in October 2010 and of Crestwood Equity GP LLC (formerly Inergy GP, LLC) and Crestwood Midstream GP LLC (formerly NRGM GP, LLC) in June 2013. Mr. Phillips was previously the President and Chief Executive Officer of Enterprise Products Partners L.P. He has served as Chairman and Chief Executive Officer of GulfTerra Energy Partners, L.P., and he was the Chairman, President and Chief Executive Officer of Eastex Energy, Inc. Mr. Phillips has previously served as a director and a member of the audit committee of Pride International, Inc. and as a director of Enterprise Products Partners L.P. and Enterprise GP Holdings L.P. He is currently serving on the board of directors of Bonavista Energy Corporation (TSX:BNP).

Alvin Bledsoe , ,

Alvin Bledsoe was appointed to the Board of Directors of Crestwood Gas Services GP LLC in July 2007. He was appointed to the Boards of Directors of Crestwood Equity GP LLC and Crestwood Midstream GP LLC on October 7, 2013. Prior to his retirement in 2005, Mr. Bledsoe served as a certified public accountant for 33 years at Pricewaterhouse Coopers LLP. Mr. Bledsoe currently serves as a director and as chair of the audit committee of SunCoke Energy, Inc. (NYSE:SXC).

Michael G. France , ,

Michael G. France was appointed to the Board of Directors of Crestwood Gas Services GP LLC in October 2010 and of Crestwood Equity GP LLC (formerly Inergy GP, LLC) and Crestwood Midstream GP LLC (formerly NRGM GP, LLC) in June 2013. Mr. France is a Managing Director at First Reserve Corporation, which he joined in 2007. Mr. France has previously served as a director of Cobalt International Energy, Inc.

Warren H. Gfeller , ,

Warren H. Gfeller was appointed to the Board of Directors of Crestwood Equity GP LLC (formerly Inergy GP, LLC) in July 2001 and the Board of Directors of Crestwood Midstream GP LLC (formerly NRGM GP, LLC) in December 2011. In addition, Mr. Gfeller currently serves on the Board of HC2 Holdings, Inc. (NYSE: HCHC) and previously served as President and Chief Executive Officer of Ferrellgas Partners, L.P.

David Lumpkins , ,

David Lumpkins was appointed to the Board of Directors of Crestwood Equity GP LLC in November 2015 after serving on the Board of Directors of Crestwood Midstream GP LLC since October 2013. He currently serves as a director at Westlake Chemical Partners GP LLC, the General Partners of Westlake Chemical Partners LP (NYSE: WLKP). He was the co-founder, and previously served as the Executive Chairman of PetroLogistics LLC, the general partner of PetroLogistics LP, until it was sold to Flint Hills Resources LLC in July 2014.

John J. Sherman , ,

John J. Sherman was appointed to the Board of Directors of Crestwood Equity GP LLC (formerly Inergy GP, LLC) in July 2001 and the Board of Directors of Crestwood Midstream GP LLC (formerly NRGM GP, LLC) in December 2011. Mr. Sherman is the former Chief Executive Officer and President of Inergy, L.P. and Inergy Midstream, L.P. and served in those positions until June 2013. He currently serves as a director at Great Plains Energy Incorporated (NYSE:GXP).

John W. Somerhalder II , ,

John W. Somerhalder II was appointed to the Board of Directors of Crestwood Gas Services GP LLC in July 2007 and was appointed to the Board of Directors of Crestwood Equity GP LLC on October 7, 2013. He currently serves as Interim Chief Executive Officer at Colonial Pipeline Company and as a director at CenterPoint Energy, Inc. (NYSE: CNP). Mr. Somerhalder previously served as Chairman, President and Chief Executive Officer of AGL Resources Inc. (NYSE:GAS).

Corporate History

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May 2010 First Reserve and Crestwood Holdings establish partnership to pursue investments in midstream assets located in unconventional resource plays
October 2010 Crestwood acquires Quicksilver Gas Services (NYSE: KGS) containing Barnett Shale gathering and processing assets for $701 million
March 2012 Crestwood acquires Antero Resources' (NYSE:AR) gathering system targeting the Marcellus Shale in Harrison and Doddridge Counties, WV for $380 million
June 2013 Crestwood Holdings completes the acquisition of Inergy, L.P. general partner and contributes the general partner of Crestwood Midstream Partners LP to Inergy, L.P. This transaction is the first part of the merger between Crestwood and Inergy to create a fully integrated midstream partnership. Combined enterprise value in June 2013 was approximately $7 billon.
July 2013 Crestwood completes acquisition of gathering, processing and crude-by-rail terminal assets in the PRB Niobrara for $150 million.
October 2013 Crestwood Midstream closes merger with Inergy Midstream, L.P. (NYSE: NRGM), the final step in the combination of Inergy and Crestwood, creating a mid-cap MLP platform with an enterprise value of $8 billion. At the time of merger, Inergy Midstream, L.P. changed its name to Crestwood Midstream Partners LP (NYSE:CMLP) and Inergy, L.P. changed its name to Crestwood Equity Partners LP (NYSE:CEQP).
November 2013 Crestwood acquires Arrow Midstream’s gathering business in the Bakken Shale for $750 million
April 2014 Crestwood announces Willow Lake gathering and processing expansion project in the Delaware Permian Basin
December 2014 Crestwood Equity completes sale of Tres Palacios to Crestwood Midstream and Brookfield Infrastructure for $130 million
September 2015 Crestwood Equity closes merger with Crestwood Midstream creating one fully integrated partnership with common investors, customers and assets. Crestwood Equity's common units continue trading on the NYSE under the symbol CEQP.
November 2015 Crestwood Equity completes a 1-for-10 reverse split on its common units
June 2016 Crestwood Equity forms joint venture with Consolidated Edison, Inc.
(NYSE: ED), named Stagecoach Gas Services LLC, to own and develop natural gas pipeline and storage assets in the Northeast. As part of the transaction, Crestwood Equity received approximately $975 million for 50% of its existing Northeast pipeline and storage assets contributed to the joint venture.
September 2016 Crestwood Equity enters into long-term agreement with SWEPI LP (“SWEPI”), a subsidiary of Royal Dutch Shell plc, to construct, own and operate a natural gas gathering system in the Delaware Permian Basin

Awards

Crestwood is proud to have ranked 1st in customer satisfaction and in service and professionalism in EnergyPoint Research’s Oil & Gas Services Midstream Services Customer Satisfaction Survey. At Crestwood, we value our relationships with our customers and always strive to deliver best-in-class service.

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Safety is Our First Priority. We strive to promote health and maintain a high standard of safety for our company, the public and the environment through careful planning and responsible operations.
Contact: 700 Louisiana St, Suite 2550 Houston TX 77002.