At a Glance
The Facts
PennTex Midstream Partners, LP (PennTex) is a publicly-traded master limited
partnership headquartered in Houston, Texas.
PennTex is a growth-oriented master limited partnership focused on owning,
operating, acquiring and developing midstream energy infrastructure assets
in attractive oil and natural gas basins in North America through strategic
relationships with our customers.
PennTex provides natural gas gathering and processing and residue gas and
natural gas liquids transportation services to producers in the Terryville Complex
in northern Louisiana.
PennTex’s initial assets are supported by 15-year, fee-based commercial
agreements with an anchor customer in the Terryville Complex and a 15-year
area of mutual interest and exclusivity agreement to provide future midstream
infrastructure requirements for its anchor customer.
PennTex’s parent, PennTex Development, was formed by affiliates of Natural
Gas Partners (NGP) and members of its management team to develop a multibasin midstream growth platform with an initial focus on organic growth projects
in partnership with oil and natural gas producers affiliated with NGP.
PennTex’s seasoned management team collectively has over 200 years of
experience building and operating public and private midstream companies and
executing successful midstream M&A transactions.
PennTex Development owns and manages midstream assets in the Permian
Basin that, combined with management’s industry relationships, will provide
PennTex with significant future growth opportunities.
PennTex is committed to maintaining the highest standards of safety for both
the public and our employees, and protecting the environment.
Senior Leadership
Thomas F. Karam
CHAIRMAN AND CEO
Served on Board
Robert O. Bond
PRESIDENT AND COO
Steven R. Jones
EVP AND CFO
Michael J. Moran
SVP AND CHIEF
COMMERCIAL
OFFICER
L. Thomas Stone
SVP AND CHIEF
OPERATIONS
AND ENGINEERING
OFFICER
Stephen M. Moore
VP, GENERAL
COUNSEL AND
SECRETARY
Kenneth E. Hertel
VP, CONTROLLER
AND CAO
Chris E. Staffel
VP, ADMINISTRATION
Andrejka Bernatova
VP, FINANCE AND IR
Thomas F. Karam - CEO
Tom Karam is a veteran in the energy industry with over 25 years of experience. He has held
various executive positions at large public companies and later became an entrepreneur
successfully building multiple midstream businesses.
From 1999 to 2006, Tom served as President, Chief Operating Officer and Director of
Southern Union, a NYSE listed company. He was principally responsible for transforming
the company from a gas utility into one of the largest pipeline companies in the U.S. at the
time. He executed merger and acquisition deals, including the acquisition of the Panhandle
Eastern Pipeline company and all of the Enron pipelines. During his tenure, he closed M&A
transactions totaling over $5 billion and capital market transactions in excess of $2 billion.
Tom also served as President and Chief Executive Officer of NYSE listed Pennsylvania
Enterprises, a gas and water utility acquired by Southern Union in 1999.
As a seasoned entrepreneur, Tom has started and built multiple successful businesses.
He founded Stonegate Renewable Energy, LLC, which developed a large greenfield landfill
gas-to energy plant in Pennsylvania, and was acquired by UGI Corp. Most recently, Tom
developed and operated Laser Gathering, one of the first independent gathering systems
built in the northeast Marcellus from Pennsylvania to New York. Tom ultimately sold Laser
to Williams for $800 million in 2012.
Robert O. Bond - COO
Robert O. Bond is the President and Chief Operating Officer of our general partner, having
served in that capacity since August 2014. Mr. Bond has served as President and Chief
Operating Officer of PennTex Development since its inception in January 2014.
Mr. Bond has over 30 years of domestic and international experience in natural gas sales,
supply, marketing transportation, pricing and business development leadership. Prior to
PennTex Development, from 2005 to 2012, Mr. Bond served as Senior Vice President of
Pipeline Operations for Southern Union Company. From 2005 to 2012, Mr. Bond served as
President and Chief Operating Officer of Panhandle Energy and Cross Country Energy. Mr.
Bond also served as Director of Business Development for Sonat Marketing Company from
1998 to 2000, and as Managing Director for El Paso Energy and Tenneco Energy from 1984
to 1998. Mr. Bond began his career at Clajon Gas Company in 1981.
Mr. Bond received his B.S. in Economics in 1981 from Texas A&M University.
Steven R. Jones - CFO
Steven R. Jones is the Executive Vice President and Chief Financial Officer of our general
partner, having served in that capacity since August 2014. Mr. Jones has served as Executive
Vice President and Chief Financial Officer of PennTex Development since March 2014. For
more than seventeen years Mr. Jones has served as an investment banker and corporate
development executive, primarily focused on the midstream and downstream energy
sectors.
Prior to PennTex Development, from March 2008 to March 2014, Mr. Jones served as
Managing Director of Investment Banking with a focus on midstream and downstream
sectors with Tudor, Pickering, Holt & Co. From June 2004 to March 2008, Mr. Jones served
as Vice President of Investment Banking for Lehman Brothers, Inc., as part of the Global
Natural Resources Investment Banking Team. Mr. Jones has also served as Director of
Corporate Development for El Paso Corporation from June 2000 to June 2004.
Mr. Jones received his B.S. in Economics degree from Tulane University.
Current Assets
PennTex Midstream Partners LP’s initial partnership assets are located in northern
Louisiana. They consist of two processing plants, a gathering pipeline system, an NGL
pipeline and a residue natural gas pipeline.
Partnership
Assets,Assets
Louisiana
North Louisiana
0
5
10
20
Lafayette
30
PENNTEX GATHERING PIPELINE
35 miles long
Provides access to Lincoln Parish
Plant, Mt. Olive Plant and DCP’s
Minden Plant
Union
M IL E S
Arkansas
Columbia
Ashley
MT. OLIVE PLANT
200 MMcf/d processing capacity
15–year
fixed fee contract
Morehouse
Commenced operations in
September 2015
Claiborne
PENNTEX RESIDUE GAS PIPELINE
Union
Caddo
24” residue natural gas header
Total capacity of atBossier
least 400 MMcf/d
Provides market access for residueWebster
natural gas from both plants
Mississippi
Lincoln
Caddo
Texas
Ouachita
Bienville
Richland
PENNTEX NGL PIPELINE
LINCOLN PARISH PLANT
De Soto
Mt. Olive Plant
PennTex Gathering Pipeline
PennTex NGL Pipeline
PennTex Gas Pipeline
Lincoln Parish Plant
200 MMcf/d
processing capacity
15–year fixed fee
contract
Commenced
Redoperations
River
in
May 2015
Jackson
40 miles of 10” pipeline
Provides for deliveries
from both plants
Caldwell
Total capacity of over
36,000 barrels per day
Area of
activity
Franklin
Louisiana
La Salle
Louisiana