Kelcy Warren, CEO of Energy Transfer Partners, has raised a whopping $13.1 billion in the last five years by making risky moves in oil and gas fields across the globe. Kelcy Warren’s risk-taking strategies have helped him land on Forbes’ list of the world’s wealthiest people and make billions for investors those risks are paying off, big time!
Kelcy Warren, the third-generation CEO of Energy Transfer Partners, took over the top spot after his father, Ray Warren, passed away in 2005. Before taking control of Energy Transfer Partners, Kelcy Warren played football at the University of Texas and then worked as a landman at Phillips Petroleum Company.
Warren’s early career helped him understand how to make money in the oil industry — if you’re not taking risks, you’re not driving revenue growth. While working for his family company in the 1980s and 1990s, Warren laid pipe for natural gas pipelines across Texas and Oklahoma. He also helped bring crude oil projects online through ETP’s subsidiary Sunoco Logistics. When he took charge of Energy Transfer Partners in 2005, Warren was well-versed in using risks to drive income.
Kelcy Warren has pushed hard for new projects that put him in the public eye. In 2011, he won a bid to build a $7 billion pipeline from the Bakken oil field in western North Dakota to Illinois. The North Dakota Pipeline project was risky, but it paid off! Once the pipeline began transporting crude oil in early 2014, revenue increased 35% year-over-year to $13 billion.
Kelcy Warren’s most significant success has come from the company’s subsidiary Sunoco Logistics Partners LP (NYSE: SXL), which transports refined petroleum products like gasoline and jet fuel via pipelines and tankers across the U.S., Europe, and Asia. And despite Warren’s risk-taking nature, Sunoco Logistics Partners only lost $18.8 million in 2015 — a win in a volatile industry. See this page for additional information.
More about Warren on https://wallmine.com/people/32826/kelcy-l-warren