Kelcy Warren Invests $40 Million in Energy Transfer Amid Major Expansion
Kelcy Warren, the CEO and co-founder of Energy Transfer, is making headlines with a significant
personal investment in his company. The Dallas-based energy giant has recently
expanded its footprint with a $7 billion acquisition of Crestwood Equity
Partners, broadening its reach in the oil and gas pipeline sectors.
In a strategic move, Kelcy Warren purchased 3 million shares of Energy Transfer,
amounting to nearly $40 million. This acquisition, executed over three separate
transactions, underscores Warren’s confidence in the company’s future. With
this purchase, Warren’s total holdings in Energy Transfer have soared to over
103 million shares, a portfolio valued at just under $950 million since January 2018.
Warren’s net worth, estimated at over $5.6 billion according to Bloomberg, is heavily tied to his
stake in Energy Transfer. His recent stock purchases came at a price of $13 per
share, matching the current market value. Such actions often signal to other
investors that a company leader believes the stock is undervalued and poised for growth.
His acquisition of Crestwood Equity Partners is a strategic move for Energy Transfer. This
$7.1 billion deal, including $3.3 billion in debt, enhances the company’s
assets in key oil and gas basins such as the Williston, Delaware, and Powder
River basins. This expansion adds significant capacity to gather, process, and
transport oil and gas, with infrastructure capable of handling about 2 billion
cubic feet of gas and 340,000 barrels of crude oil daily.
Energy Transfer now controls nearly 125,000 miles of pipeline and related infrastructure across 41
states, making it one of the largest public companies in the Dallas-Fort Worth
area. In 2022, the company reported nearly $90 billion in revenue and almost $6
billion in profit, reinforcing its dominant position in the energy sector.
Kelcy Warren’s latest investment is a clear testament to his unwavering belief in Energy
Transfer’s ongoing growth and strategic direction. As the company continues to
expand its reach, Warren’s commitment could inspire further confidence among
investors and stakeholders in the energy sector. See related link for additional information.
Find more information about Kelcy Warren on https://www.utsystem.edu/board-of-regents/current-regents/kelcy-l-warren