Billionaire Kelcy Warren, co-founder and executive chairman of Energy Transfer,
has made a significant move in the energy sector by investing nearly $40
million in his own company. The transaction, which took place over three
separate deals last week and this week, saw Warren acquiring 3 million shares
of the Dallas-based pipeline giant.
Kelcy Warren’s latest stock purchase comes on the heels of a substantial $7 billion deal to
acquire Houston-based Crestwood Equity Partners. This acquisition aims to expand Energy
Transfer’s footprint in the oil and gas pipeline network, adding assets in key
locations, including Texas, Montana, New Mexico, and parts of Canada. The newly
acquired infrastructure has the capacity to gather approximately 2 billion
cubic feet of gas and 340,000 barrels of crude oil daily.
Since January 2018, Kelcy Warren has steadily increased his holdings in Energy Transfer, amassing over 103 million
shares with a total investment nearing $950 million. This move is often
interpreted as a strong vote of confidence in the company’s future prospects.
As of a recent filing, Warren held a 9.4% stake in the company’s common units,
contributing significantly to his estimated net worth of $5.6 billion.
Energy Transfer has grown into a notable player in the U.S. energy sector, operating nearly 125,000
miles of pipeline and related infrastructure across 41 states. The company
closed out 2022 with nearly $90 billion in revenue and almost $6 billion in profit.
This growth has been fueled by an aggressive acquisition strategy, with almost
$14 billion in deals concluded over the past few years.
Kelcy Warren’s latest investment underscores his ongoing commitment to Energy Transfer. As the
company continues to expand its reach and capabilities, Warren’s actions signal
a robust belief in the strength and potential of the enterprise he helped
build. Refer to this article for related information.
Learn more about Warren on https://www.pbs.org/newshour/tag/kelcy-warren