|By Marketwired .||
|February 11, 2014 05:06 PM EST||
HOUSTON, TX -- (Marketwired) -- 02/11/14 -- Midcoast Holdings, L.L.C. (MH), the general partner of Midcoast Energy Partners, L.P. (Midcoast Partners) (NYSE: MEP), today announced the election of James G. Ivey, John A. Crum and Edmund P. Segner to its Board of Directors, effective Feb. 10, 2014.
"Midcoast is very pleased with the additions of Jim Ivey, John Crum and Ed Segner to its Board of Directors," said Greg Harper, president, Gas Pipelines and Processing, Enbridge Inc. As previously announced on Jan. 13, Harper will become principal executive officer of MH, effective Feb. 28, 2014. "Each brings considerable experience and expertise in their respective areas of specialty that will provide tremendous depth and strategic insight to the MH Board. Jim is well-versed in MLP corporate governance and finance, John brings a sharp commercial mind as well as the deep operational understanding, and Ed has strong board experience and is a known financial expert."
James G. Ivey has more than 40 years in the energy industry, including extensive experience in the E&P, MLP midstream sectors in both engineering and finance. Mr. Ivey founded Pintail Energy in 2013, and formerly worked for Milagro Exploration as president from 2010 to 2012 and as executive vice president and chief financial officer from 2009 to 2010. He also served as executive vice president and chief financial officer of Cobalt International Energy from 2006 to 2009. Mr. Ivey also held various roles with Markwest Hydrocarbon, Williams Companies, Arkla Gas, Conoco and Fluor between 1973 and 2006.
John A. Crum has close to 40 years in the energy industry, with a strong knowledge of engineering, operations and management. Mr. Crum has served as chairman, president and chief executive officer of Midstates Petroleum Company since 2011. He also held a variety of roles with Apache Corp., between 1995 and 2011, most recently serving as co-chief operating officer and president, North America. Between 1975 and 1995, Mr. Crum held positions with Aquila Energy Corporation, Pacific Enterprises Oil Company, Southland Royalty Company, Keplinger and Associates and Conoco.
Edmund P. Segner has more than 30 years of experience in the energy industry, with a focus on E&P finance and general management. Mr. Segner currently serves as a professor at Rice University, focusing on civil and environmental engineering. Mr. Segner served in various positions at EOG Resources between 1997 and his retirement in 2008, including president, director, chief of staff and principal finance officer. Mr. Segner also held various positions at Enron between 1988 and 1997.
"The elections of Jim Ivey, John Crum and Ed Segner round out the MH Board, which is chaired by Dan A. Westbrook, and further bolster the strong management team in place for Midcoast Partners as we work to grow the company's U.S. natural gas and NGL midstream business," concluded Terry McGill, president, MH.
Dan A. Westbrook is chairman of the board and was elected a director of MH in Oct. 2013, and is a member of the board's Audit, Finance & Risk Committee. He has served since 2007 as a director of Enbridge Energy Company, Inc., and Enbridge Energy Management, L.L.C. and is a member of the boards' Audit, Finance & Risk Committees. From 2001 to 2005, Mr. Westbrook served as president of BP China Gas, Power & Upstream and as vice-chairman of the board of directors of Dapeng LNG, a Sino joint venture between BP subsidiary CNOOC Gas & Power Ltd. and other Chinese companies. He held executive positions with BP in Argentina, Houston, Russia, Chicago and The Netherlands before retiring from the company in January 2006.
J. Herb England, a board member of Enbridge Energy Management, Enbridge Energy Company, Inc., since 2010 and Enbridge Inc. since 2007, was elected a director of the board of MH in Oct. 2013 and was elected as the chairman of the board's Audit, Finance and Risk Committee in Oct. 2013. Mr. England has been chair and chief executive officer of Stahlman-England Irrigation Inc. in southwest Florida since 2000. Previously, Mr. England was the chief executive officer of Sweet Ripe Drinks Ltd. and held various executive positions with John Labatt Limited in the food, dairy and brewing industries. Mr. England has served on the Enbridge Inc. board of directors since 2007.
About Midcoast Energy Partners, L.P.
Midcoast Energy Partners, L.P. (NYSE: MEP), is a limited partnership formed by Enbridge Energy Partners, L.P ("Enbridge Partners") to serve as Enbridge Partners' primary vehicle for owning and growing its natural gas and natural gas liquids (NGLs) midstream business in the United States. Our assets consist of a 39 percent controlling interest in Midcoast Operating, L.P., a Texas limited partnership that owns a network of natural gas and NGL gathering and transportation systems, natural gas processing and treating facilities and NGL fractionation facilities primarily located in Texas and Oklahoma. Midcoast Operating also owns and operates natural gas, condensate and NGL logistics and marketing assets that primarily support its gathering, processing and transportation business. Through our ownership of Midcoast Operating's general partner, we control, manage and operate these systems.
Enbridge Energy Partners, L.P. (NYSE: EEP), owns 100 percent of Midcoast Holdings, LLC, the general partner of Midcoast Partners, and holds an approximate 54 percent interest in Midcoast Partners. Enbridge Partners owns and operates a diversified portfolio of crude oil and, through Midcoast Partners, natural gas transportation systems in the United States. Its principal crude oil system is the largest pipeline transporter of growing oil production from western Canada and the North Dakota Bakken formation. Enbridge Partners is recognized by Forbes as one of the 100 Most Trustworthy Companies in America.
Forward Looking Statements
This news release includes forward-looking statements, which are statements that frequently use words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "position," "projection," "should," "strategy," "target," "will" and similar words. Although we believe that such forward-looking statements are reasonable based on currently available information, such statements involve risks, uncertainties and assumptions and are not guarantees of performance. Future actions, conditions or events and future results of operations may differ materially from those expressed in these forward-looking statements. Many of the factors that will determine these results are beyond the ability of Midcoast Energy Partners, L.P. ("MEP") to control or predict. Specific factors that could cause actual results to differ from those in the forward-looking statements include: (1) risk related to the securities markets generally; (2) changes in the demand for or the supply of, forecast data for, and price trends related to crude oil, liquid petroleum, natural gas and natural gas liquids, including the rate of development of the Alberta Oil Sands; (3) MEP's ability to successfully complete and finance expansion projects; (4) the effects of competition, in particular, by other pipeline and gathering systems, as well as other processing and treating plants; (5) shut-downs or cutbacks at MEP's facilities or refineries, petrochemical plants, utilities or other businesses for which MEP transports products or to whom MEP sells products; (6) hazards and operating risks that may not be covered fully by insurance; (7) changes in or challenges to MEP's rates; and (8) changes in laws or regulations to which MEP is subject, including compliance with environmental and operational safety regulations that may increase costs of system integrity testing and maintenance.
In addition to the risks listed above, other risks include those detailed from time to time in Midcoast Partners' Securities and Exchange Commission, or SEC, reports, including, without limitation, in Midcoast Partners' prospectus related to its initial public offering, dated November 6, 2013 and filed with the United States Securities and Exchange Commission on November 8, 2013, and any subsequently filed annual, quarterly or current reports, which filings are available to the public at the SEC's website (www.sec.gov).
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Nov. 26, 2015 11:00 AM EST Reads: 435
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
Nov. 26, 2015 11:00 AM EST Reads: 104
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Nov. 26, 2015 10:00 AM EST Reads: 278
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Su...
Nov. 26, 2015 09:45 AM EST Reads: 357
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
Nov. 26, 2015 09:30 AM EST Reads: 367
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Nov. 26, 2015 09:00 AM EST Reads: 471
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
Nov. 26, 2015 08:45 AM EST Reads: 261
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Nov. 26, 2015 08:30 AM EST Reads: 186
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, exploreed the current state of IoT connectivity and review key trends and t...
Nov. 26, 2015 06:45 AM EST Reads: 392
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessi...
Nov. 26, 2015 06:15 AM EST Reads: 299
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
Nov. 26, 2015 06:00 AM EST Reads: 351
Continuous processes around the development and deployment of applications are both impacted by -- and a benefit to -- the Internet of Things trend. To help better understand the relationship between DevOps and a plethora of new end-devices and data please welcome Gary Gruver, consultant, author and a former IT executive who has led many large-scale IT transformation projects, and John Jeremiah, Technology Evangelist at Hewlett Packard Enterprise (HPE), on Twitter at @j_jeremiah. The discussion...
Nov. 26, 2015 03:45 AM EST Reads: 691
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Nov. 26, 2015 03:00 AM EST Reads: 305
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...
Nov. 26, 2015 02:00 AM EST Reads: 191
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound...
Nov. 26, 2015 01:30 AM EST Reads: 435