Midstream Texas: Teague Accepts Executive Of The Year Award

SAN ANTONIO—A. James (Jim) Teague, CEO of Enterprise Products Partners LP ((NYSE: EPD), offered a spirited defense of an oil and gas industry that he described as under environmentalist assault Sept. 13 at the Midstream Texas conference.

Teague made his keynote address before receiving the Midstream Business Executive of the Year Award.

“The attack on oil and gas affects all of us, the entire value chain,” he said. “Producers can’t produce, consumers don’t have it for their needs and there’s no need for the midstream energy. We’re all in it together.”

The public at large does not appreciate all that energy companies do on its behalf, Teague said, noting that even production of propane serves an environmentally friendly purpose, allowing people in many countries to burn it for fuel instead of relying on wood, which leads to deforestation.

Hart Energy also presented two other inaugural awards at the conference:

• Deal of the Year: The $15.8 billion acquisition of MarkWest Energy Partners LP by MPLX LP (NYSE: MPLX), a subsidiary of Marathon Petroleum Corp. (NYSE: MPC), accepted by MPLX Executive Vice President Pamela Bealls; and
• Project of the Year: The Alpha Crude Connector LLC, a joint venture between Tulsa, Okla.-based Frontier Energy Services LLC and Midland, Texas-based Concho Resources Inc. (NYSE: CXO), that can move up to 100,000 barrels of oil per day across the northern Delaware Basin, accepted by Robert Shain of Frontier.

Teague’s career spans executive roles at MAPCO Inc., Tejas Natural Gas Liquids LLC and Shell Oil Co., as well as numerous senior positions in the Enterprise system.

Joseph Markman can be reached at jmarkman@hartenergy.com or @JHMarkman.