BNET Industries

Market Cap:$1.6B
Last Fiscal Year Sales:$1.3B
  • Public
  • US
Dow Jones Description

MarkWest markets all kinds of petroleum. Founded in 1988 and headquartered in Englewood, CO, MarkWest Energy Partners L.P. (AMEX: MWE) has many activities in the oil and gas industries. The company gathers, processes, and transmits natural gas; transports, fractionates, and stores natural gas liquids; gathers and transports crude oil; and markets natural gas and natural gas liquids. The company had 2005 revenue of about $499.1 million and employs about 240 people. In November 2005, it acquired Javelina gas processing and fractionation facility from El Paso Corporation, Kerr-McGee Corp. and Valero Energy Corp for about $355 million.

Chief Executive Officer
Frank M. Semple
Contact Information

1515 Arapahoe Street

Tower 2, Suite 700

Denver, Colorado 80202-2126

www.markwest.co...

303-925-9200

NAICS Code Crude Petroleum and Natural Gas Extraction: 211111

News & Analysis

markwest energy partners l.p. and seeking alpha - All News and Analysis

Decision Makers

Name (plus bio) Position
Frank M. Semple Chief Executive Officer
James G Ivey Senior Vice President and Chief Financial Officer
John C Mollenkopf Chief Operations Officer
Nancy K. Masten Chief Accounting Officer & Acting CFO
Randy S. Nickerson Chief Commercial Officer
Ted S. Smith Chief Accounting Officer & Vice President
C. Conwin Bromley Senior Vice President
David L. Young Senior Vice President, Corporate Services
John C. Mollerkopf Senior Vice President
Andrew L Schroeder Vice President of Finance
Kim Marle Vice President, NGL Marketing
Richard A. Ostberg Vice President Risk and Compliance
V. Steven Dickerson Vice President
Charles K. Dempster General Partner
John M Fox General Partner
Keith Bailey General Partner
William A. Kellstrom General Partner
Donald C. Heppermann Director

Board of Directors

Name (plus bio) Position
William P. Nicoletti Board of Directors

Frank M. Semple, Chairman, President, and Chief Executive Officer, was appointed as President of both our general partner and MarkWest Hydrocarbon, Inc. on November 1, 2003. Mr. Semple also became Chief Executive Officer of both MarkWest entities on January 1, 2004. Mr. Semple is a member of the Board of Directors of our general partner and was elected Chairman of the Board in October 2008. Prior to his service with MarkWest, Mr. Semple served in various capacities, most recently as Chief Operating Officer of WilTel Communications, formerly Williams Communications Group, Inc. (“WCG”) from 1997 to 2003. Prior to his tenure at WilTel Communications, he was the Senior Vice President/General Manager of Williams Natural Gas from 1995 to 1997, Vice President of Marketing and Vice President of Operations and Engineering for Northwest Pipeline, and Director of Product Movements and Division Manager for Williams Pipeline during his 22-year career with The Williams Companies. During his tenure at Williams Communications, he also served on the board of directors for PowerTel Communications and the Competitive Telecommunications Association (Comptel). Mr. Semple holds a Mechanical Engineering degree from the United States Naval Academy and is a professional engineer registered in the state of Kansas.

Organization Position Status
MarkWest Hydrocarbon, Inc. President & CEO Current
MarkWest Energy Partners, L.P. Chief Executive Officer Current
Markwest Corporation Chairman, President and Chief Executive Officer (Principal Executive Officer) Current
Markwest Corporation President, Chief Executive Officer and Director Current
MarkWest Energy Partners, L.P. Director Current
MarkWest Hydrocarbon, Inc. Board of Directors Current
MarkWest Energy Partners, L.P. President Former
WilTel Communications, LLC Chief Operating Officer Former
Northwest Pipeline Corporation Senior Vice President Former
Williams Pipeline Co. Senior Vice President Former
Williams Pipeline Co. Vice President of Marketing Former
Northwest Pipeline Corporation Vice President of Marketing Former
MarkWest Hydrocarbon, Inc. General Partner Former
Markwest Corporation General Partner Former
MarkWest Energy Partners, L.P. General Partner Former
Williams Pipeline Co. Director of Product Movements Former
Williams Pipeline Co. Division Manager Former
Markwest Corporation Director Former
United States Naval Academy bachelor's degree in mechanical engineering Former

Organization Position Status
MarkWest Energy Partners, L.P. Senior Vice President and Chief Financial Officer Current

John C. Mollenkopf, Senior Vice President, Chief Operations Officer, was appointed as Chief Operations Officer of our general partner in October 2006. Prior to his appointment as COO, Mr. Mollenkopf served as Senior Vice President, Southwest Business Unit, since January 2004 and as Vice President, Business Development since January 2003. Prior to these positions,, he served as Vice President, Michigan Business Unit, of our general partner since its inception in May 2002 and in the same capacity with MarkWest Hydrocarbon since December 2001. Prior to that, Mr. Mollenkopf was General Manager of the Michigan Business Unit of MarkWest Hydrocarbon since 1997. He joined MarkWest Hydrocarbon in 1996 as Manager, New Projects. From 1983 to 1996, Mr. Mollenkopf worked for ARCO Oil and Gas Company, holding various positions in process and project engineering, as well as operations supervision.

Organization Position Status
MarkWest Energy Partners, L.P. Chief Operations Officer Current
Markwest Corporation Senior Vice President, Chief Operations Officer Current
MarkWest Hydrocarbon, Inc. Chief Operations Officer Former
MarkWest Hydrocarbon, Inc. Senior Vice President Former
MarkWest Energy Partners, L.P. Senior Vice President Former
MarkWest Hydrocarbon, Inc. General Manager, Michigan Business Unit Former
MarkWest Energy Partners, L.P. General Partner Former
MarkWest Hydrocarbon, Inc. General Partner Former
MarkWest Hydrocarbon, Inc. Manager Former
Markwest Corporation Manager Former
University of Colorado at Boulder bachelor's degree in mechanical engineering Former

Organization Position Status
MarkWest Energy Partners, L.P. Chief Accounting Officer & Acting CFO Current
MarkWest Hydrocarbon, Inc. Chief Accounting Officer & Acting CFO Current
TransMontaigne, Inc. Vice President Former
Ernst & Young Partner Former

Organization Position Status
MarkWest Hydrocarbon, Inc. Chief Commercial Officer Current
MarkWest Energy Partners, L.P. Chief Commercial Officer Current
Markwest Corporation Senior Vice President, Chief Commercial Officer Current
MarkWest Energy Partners, L.P. Senior Vice President Former
MarkWest Hydrocarbon, Inc. Vice President Former
MarkWest Hydrocarbon, Inc. General Manager of the Michigan Business Unit Former
MarkWest Hydrocarbon, Inc. General Partner Former
MarkWest Energy Partners, L.P. General Partner Former
Markwest Corporation Manager Former
Western Gas Resources, Inc. Regional Engineering Manager Former
MarkWest Hydrocarbon, Inc. Manager Former
Chevron USA, Inc. Process and Project Engineering Positions Former
Colorado State University bachelor's degree in chemical engineering Former

Organization Position Status
MarkWest Energy Partners, L.P. Chief Accounting Officer & Vice President Current

C. Corwin Bromley, Senior Vice President, General Counsel and Secretary, was appointed as General Counsel of our general partner in September 2004. Prior to joining MarkWest, Mr. Bromley served as Assistant General Counsel at Foundation Coal Holdings, Inc. f/k/a RAG American Coal Holding, Inc. from 1999 through 2004, and as General-Managing Attorney and Sr. Environmental Attorney at Cyprus Amax Minerals Company from 1989 to 1999. Prior to that, Mr. Bromley was in private practice with the law firm Popham, Haik, Schnobrich & Kaufman from 1984 through 1989. Preceding his legal career, Mr. Bromley worked as a structural/design engineer involved in several domestic and international LNG and energy projects with the firms CBI, Inc. and Chicago Bridge & Iron Company. Mr. Bromley received his J.D. degree from the University of Denver and his bachelor’s degree in Civil Engineering from the University of Wyoming.

Organization Position Status
MarkWest Energy Partners, L.P. Senior Vice President Current
MarkWest Hydrocarbon, Inc. General Counsel, Secretary & Senior Vice President Current
Markwest Corporation Senior Vice President, General Counsel Current
MarkWest Hydrocarbon, Inc. Secretary Current
MarkWest Energy Partners, L.P. Secretary Current
MarkWest Energy Partners, L.P. General Counsel Former
MarkWest Hydrocarbon, Inc. General Counsel Former
Cyprus Amax Minerals Company General, Managing Attorney Former
CB&I Structural, Design Engineer Former
University of Denver J.D Former
University of Wyoming Bachelor’S Degree In Civil Engineering Former

Organization Position Status
MarkWest Energy Partners, L.P. Senior Vice President, Corporate Services Current
Markwest Corporation Senior Vice President, Corporate Services Current
The Williams Companies, Inc. Senior Vice President Former
MarkWest Hydrocarbon, Inc. Senior Vice President Former
WilTel Communications, LLC Vice President of Network Engineering Former
WilTel Communications, LLC General Manager Former
Colorado School of Mines B.S. In Petroleum Engineering Former

Organization Position Status
MarkWest Energy Partners, L.P. Senior Vice President Current

Andrew L. Schroeder, Vice President Finance, Treasurer and Assistant Secretary, was appointed as Vice President and Treasurer of our general partner in February 2003. Prior to his appointment, he was Director of Finance/Business Development at Crestone Energy Ventures from 2001 through 2002. Prior to that, Mr. Schroeder worked at Xcel Energy for two years as Director of Corporate Financial Analysis. Prior to that, he spent seven years working with various energy companies. He began his career with Touche, Ross & Co. and spent eight years in public accounting. Mr. Schroeder is a Certified Public Accountant licensed in the state of Colorado.

Organization Position Status
MarkWest Energy Partners, L.P. Vice President of Finance Current
Markwest Corporation Vice President, Finance and Treasurer Current
MarkWest Energy Partners, L.P. Treasurer Current
MarkWest Hydrocarbon, Inc. Treasurer Current
Markwest Corporation Board of Directors Current
MarkWest Hydrocarbon, Inc. Vice President, Finance & Treasurer Former
MarkWest Energy Partners, L.P. General Partner Former
MarkWest Hydrocarbon, Inc. General Partner Former
Xcel Energy Inc. Director of Corporate Financial Analysis Former
MarkWest Hydrocarbon, Inc. Assistant Secretary Former
MarkWest Energy Partners, L.P. Assistant Secretary Former
Touche Ross & Co. Team Member Former

Organization Position Status
MarkWest Energy Partners, L.P. Vice President, NGL Marketing Current
MarkWest Hydrocarbon, Inc. Vice President, Marketing Current

Organization Position Status
MarkWest Hydrocarbon, Inc. Vice President, Risk & Compliance Current
MarkWest Energy Partners, L.P. Vice President Risk and Compliance Current

Organization Position Status
MarkWest Energy Partners, L.P. Vice President Current

Charles K. Dempster has served as a member of the Board of Directors of our General Partner since December 2002. Mr. Dempster serves as the chairman of the Board’s Compensation Committee and also serves on the Board’s Nominating and Corporate Governance Committee. Mr. Dempster has more than 30 years of experience in the natural gas and power industry. He held various management and executive positions with Enron Corporation and its predecessors between 1969 and 1986, focusing on natural gas supply, transmission and distribution. From 1986 through 1992, Mr. Dempster served as President of Reliance Pipeline Company and Executive Vice President of Nicor Oil and Gas Corporation, oil and natural gas midstream and exploration subsidiaries of Nicor Inc. in Chicago. In 1993, he was appointed President of Aquila Energy Corporation, a wholly owned midstream, pipeline and energy trading subsidiary of Utilicorp, Inc. Mr. Dempster retired in 2000 as Chairman and Chief Executive Officer of Aquila Energy Company. Mr. Dempster holds a bachelor’s degree in civil engineering from the University of Houston and attended graduate business school at the University of Nebraska.

Organization Position Status
MarkWest Energy Partners, L.P. General Partner Current
Markwest Corporation Director Current
MarkWest Energy Partners, L.P. Director Current
Enron Corp. Management and Executive Positions Former
The University of Houston Bachelor’S Degree In Civil Engineering Former

Organization Position Status
Markwest Corporation President Current
MarkWest Energy Partners, L.P. General Partner Current
MarkWest Energy Partners, L.P. Chairman Current
Markwest Corporation Chairman of the Board of Directors Current
MarkWest Hydrocarbon, Inc. Chairman of the Board of Directors Current
Markwest Corporation Chief Executive Officer Former
MarkWest Hydrocarbon, Inc. Chief Executive Officer Former
MarkWest Hydrocarbon, Inc. President Former
Western Gas Resources, Inc. Chief Operating Officer Former
Western Gas Resources, Inc. Executive Vice President Former
Western Gas Resources, Inc. Founder Former
Markwest Corporation General Partner Former
Markwest Corporation Board of Directors Former
MarkWest Hydrocarbon, Inc. Director Former
MarkWest Energy Partners, L.P. Director Former

Keith E. Bailey has served as a member of the Board of Directors of our General Partner since January 2005. Mr. Bailey serves as the chairman of the Board’s Audit Committee and also serves on the Board’s Finance Committee. Mr. Bailey was formerly the Chairman, President and Chief Executive Officer of The Williams Companies, Inc. (“Williams”). Commencing in 1973, Mr. Bailey served in various capacities with Williams and its subsidiaries, including President and Chairman of Williams Pipe Line, Chairman of WilTel Communications, President of Williams Natural Gas, and Executive Vice President and Chief Financial Officer of Williams. Also, Mr. Bailey served on the Williams Board of Directors from 1988 until his retirement in 2002, including eight years as Chairman. He currently serves on the Boards of Directors of Apco Argentina Inc., Associated Electric & Gas Insurance Services Limited (AEGIS) and Integrys Energy Group, Inc. Mr. Bailey holds a bachelor’s degree in mechanical engineering from the Missouri School of Mines and Metallurgy.

Organization Position Status
MarkWest Energy Partners, L.P. General Partner Current
Markwest Corporation Chairman Current
Markwest Corporation Board of Directors Current
Apco Argentina S.A. Board of Directors Current
Integrys Energy Group, Inc. Board of Directors Current
Apco Oil & Gas International Inc Board of Directors Current
MarkWest Energy Partners, L.P. Director Current
Williams Merchant Services Co. CEO Former
The Williams Companies, Inc. Chief Executive Officer Former
Transco Exploration Company President Former
Williams Pipeline Services President Former
The Williams Companies, Inc. President Former
Williams Pipeline Co. President Former
Pine Needle Operating Company Coo Former
The Williams Companies, Inc. Chairman Former
Williams Gas Pipelines Inc Chairman Former
Kern River Gas Transmission Company Chairman Former
Williams Pipeline Co. Chairman Former
WilTel Communications, LLC Chairman Former

William A. Kellstrom has served as a member of the Board of Directors of our General Partner since its inception in May 2002 and of MarkWest Hydrocarbon’s Board of Directors since May 2000. Mr. Kellstrom serves on the General Partner’s Finance Committee and also serves on the Board’s Compensation Committee. Mr. Kellstrom has held a variety of managerial positions in the natural gas industry since 1968. They include distribution, pipelines and marketing. He held various management and executive positions with Enron Corporation, including Executive Vice President, Pipeline Marketing and Senior Vice President, Interstate Pipelines. In 1989, he created and was President of Tenaska Marketing Ventures, a gas marketing company for the Tenaska Power Group. From 1992 until 1997 he was with NorAm Energy Corporation (since merged with Reliant Energy, Inc.) where he was President of the Energy Marketing Company and Senior Vice President, Corporate Development. Mr. Kellstrom retired in 1997 and is periodically engaged as a consultant to energy companies.

Organization Position Status
MarkWest Energy Partners, L.P. General Partner Current
MarkWest Hydrocarbon, Inc. Director Current
MarkWest Energy Partners, L.P. Director Current
Enron Corp. Executive Vice President Former

Organization Position Status
Markwest Corporation Executive Vice President, Chief Financial Officer and Secretary Current
Markwest Corporation Senior Vice President Current
Markwest Corporation Board of Directors Current
S-Board Ltd. Board of Directors Current
MarkWest Energy Partners, L.P. Director Current
S-Board Ltd. Member Current
MarkWest Hydrocarbon, Inc. Chief Financial Officer Former
MarkWest Hydrocarbon, Inc. Executive Vice President Former
Enron Corp. Executive Vice President, Gas Pipeline Group Former
MarkWest Energy Partners, L.P. Senior Vice President Former
MarkWest Hydrocarbon, Inc. Senior Vice President Former
Pinnacle West Capital Corporation Vice President of Finance Former
MarkWest Energy Partners, L.P. General Partner Former
Markwest Corporation General Partner Former
MarkWest Hydrocarbon, Inc. Chairman of the Finance Committee Former
MarkWest Hydrocarbon, Inc. Secretary Former

William P. Nicoletti has served as a member of the Board of Directors of our general partner since its inception in May 2002. Mr. Nicoletti serves on the Board’s Audit Committee and also serves on the Board’s Nominating and Corporate Governance Committee. Mr. Nicoletti is Managing Director of Nicoletti & Company Inc., a private banking firm formed in 1991. Previously, he was a Managing Director and head of Energy Investment Banking for PaineWebber Incorporated and E.F Hutton & Company Inc. Mr. Nicoletti is a director and Chairman of the Audit Committee of Kestrel Heat LLC, the general partner of Star Gas Partners, L.P. Mr. Nicoletti is a graduate of Seton Hall University and received an MBA from Columbia University Graduate School of Business.

Organization Position Status
MarkWest Energy Partners, L.P. Board of Directors Current

Executive News

  • MarkWest Energy Partners Announces Release Date for Second Quarter 2009 Financial Results

    Business Wire - 7/21/09 - View Story

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     MWE $25.03 -0.24 (-0.95% )
Average Volume 461,216
Shares Outstanding 66.27M
Market Cap 1.7B
Year High 27.3
Year Low 6.55
Earnings Per Share 1.90
P/E Ratio 13.17
Dividend 2.56
Yield 10.23
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