Brandon Webster, president and CEO of Connect Midstream LLC, is today’s featured Forty Under 40 honoree.
Connect Midstream, headquartered in Oklahoma City, is backed by a $150 million commitment from private equity firm Tailwater Capital. Webster helped form the private midstream energy company, which leadership team has diverse midstream and upstream experience.
In early 2018, Webster successfully led his team on the origination of three separate commercial contracts within a six-month window, which resulted in more than 170,000 net acres and 2.2 million gross acres being dedicated to Connect Midstream over 20 years.
However, by early 2019, Webster said it became clear that U.S. oil and gas was changing and we as a private-equity-backed midstream company needed to evolve.
“I went to the other members of our leadership team with a plan to switch our core focus from growth, development and transition to prioritizing operations and business optimization. ... It took us nearly a year, but the results have yielded a greater than 15% annualized reduction in operating expense and corporate overhead costs, a gathering and processing system averaging less than 1% L&U, plant recoveries well exceeding manufacturer modeled simulations while using less plant fuel, and safety and environmental metrics that continue to receive glowing feedback during third-party audits and inspections,” he said.
Click here for Brandon Webster’s complete profile.
Take a look at all of the Forty Under 40 honorees.
Recommended Reading
Things Get ‘Awkward’ For Rice Brothers Thanks To EQT Feud
Daniel Rice, former CEO of Rice Energy who now sits on the EQT board, addressed the elephant in the room earlier this month at Hart Energy’s Energy Capital Conference.
Denbury Resources Scraps Merger With Eagle Ford Producer Penn Virginia
Denbury Resources and Penn Virginia mutually agreed to terminate their merger after the $1.7 billion cash-and-stock transaction faced difficult market conditions and shareholder opposition.
Murphy Oil Cashes Out Of Malaysia In Over $2 Billion Sale
Murphy Oil plans to use proceeds from its Malaysia exit to PTTEP for share buybacks as well as funding Eagle Ford Shale and U.S. Gulf of Mexico operations.