Kelcy Warren, the billionaire co-founder and executive chairman of
Energy Transfer, has made a significant financial move by purchasing 3 million
shares of the company. The acquisition, valued at nearly $40 million, occurred
over three separate transactions within the last week, according to regulatory filings. 

Warren’s latest purchase signals a strong vote of confidence in Energy Transfer’s future. The
Dallas-based pipeline giant recently announced a $7.1 billion deal to acquire
Houston-based Crestwood Equity Partners. This acquisition, which includes $3.3 billion in
debt, will significantly expand Energy Transfer’s assets across several key oil
and gas basins, including the Williston and Delaware basins. 

Energy Transfer operates approximately 125,000 miles of pipeline and related infrastructure,
making it one of the largest companies in the U.S. for moving oil and gas from
extraction points to refineries and ports. The company reported nearly $90
billion in revenue and close to $6 billion in profit for 2022. 

Kelcy Warren’s investment is seen as a strategic move, likely aimed at boosting investor confidence.
Since January 2018, Warren has acquired over 103 million shares in Energy
Transfer, amounting to almost $950 million. His net worth is estimated at $5.6
billion, with a substantial portion tied to his shares in Energy Transfer. 

The Crestwood Equity Partners acquisition will enhance Energy Transfer’s capabilities, adding
pipelines and storage facilities in Texas, Montana, New Mexico, North and South
Dakota, Wyoming, and parts of Canada. This infrastructure is crucial for
gathering and processing vast quantities of natural gas and crude oil. 

In summary, Kelcy Warren’s latest investment reflects his ongoing commitment to Energy Transfer,
a company he co-founded in 1996. The recent acquisition only strengthens the
firm’s position as a dominant player in the U.S. energy sector, highlighting
its aggressive growth strategy. See related link for more information. 

Find more information about Kelcy Warren on https://www.uta.edu/news/news-releases/2023/05/10/alumnus-kelcy-warrens-transformational-gift-is-largest-in-uta-history