– USA, TX – NorthStar Midstream, a diversified midstream services company majority owned by funds managed by Oaktree Capital Management, L.P. announced today that Mac Hummel has been named Chief Executive Officer of the Company. Mr. Hummel will lead a team of proven energy professionals with broad project development, multi-modal operations, financial and customer origination experience across the Company’s asset base in North Dakota, Texas and Florida. Mr. Hummel succeeds Tim Casey as CEO. Mr. Casey will transition to focus exclusively on growing NorthStar’s liquefied natural gas investments.
Mr. Hummel most recently served as Executive Vice President and President, Liquids Business Unit at EnLink Midstream, LLC in Houston, TX where he focused on developing and managing EnLink’s NGL, crude and Louisiana gas businesses. He joined EnLink in 2014 after spending over 28 years at The Williams Companies. Over his tenure at Williams, he held leadership roles across the company’s footprint in both natural gas liquids and olefins as well as its gas gathering and processing businesses. While at EnLink, Mr. Hummel had active leadership roles in the acquisition, construction, development and operations of crude gathering systems, terminals and logistics/marketing businesses in the Permian (Midland and Delaware) and Eagle Ford basins; natural gas interstate and intrastate pipelines, including the Henry Hub, processing and storage facilities in Louisiana; and NGL transportation, fractionation, storage and export facilities, also in Louisiana.
Mr. Hummel said, “NorthStar is a growing company with attractive assets positioned to solve key bottlenecks facing US energy infrastructure: lack of access to global markets for US producers in the Bakken and Eagle Ford as well as providing the supply of liquefied natural gas for the maritime industry to meet IMO 2020 fuel requirements. As a company, we remain committed to operating in a safe and environmentally-friendly manner, providing our customers with the highest level of reliability and building an attractive workplace for our employees. We have a lot of work ahead and I am excited to begin the journey.”
Mr. Casey commented, “NorthStar is positioned to be a first mover and industry leader in providing the critical infrastructure required on the water to support the growing demand for using natural gas as a clean alternative to traditional marine transportation fuel. We have identified a number of exciting opportunities to grow this area of our business.”
Jared Parker, Managing Director at Oaktree and lead director of NorthStar, said, “Mac Hummel has a proven track record in creating value for his shareholders led by his broad experience in the energy industry, strong leadership skills, steadfast work ethic and deep customer relationships. The board looks forward to working with Mac to deliver on NorthStar’s value creation strategies. We are also excited to continue to work with Tim in his new leadership role at NorthStar’s LNG division.”
In addition to expanding its management team, NorthStar has also added to its Board of Directors. Greg Guidry, recently of Royal Dutch Shell plc, joined the NorthStar board in the fourth quarter. Mr. Guidry served as EVP, Unconventionals at Royal Dutch Shell plc from January 2013 until his retirement in September 2018 and EVP, Upstream Europe and Global Production from 2009 to 2013. As EVP, Unconventionals, Mr. Guidry led Shell’s shale operations, which included management of over 2,500 employees and 450,000 boe/d of production both domestically and internationally. Mr. Guidry brings both broad upstream knowledge and world-scale project development experience to the board.
Mr. Guidry said, “Joining the Board of Directors of NorthStar represents an attractive opportunity to partner with a world-class organization like Oaktree to continue the development of a best-in-class midstream services company. I am excited to roll up my sleeves in pursuit of helping management achieve the Company’s near-term goals and execute on its long-term strategy.”
About NorthStar Midstream
NorthStar is a diversified logistics company providing flexible crude oil, sand, LNG and refined product logistics services, including storage and transportation solutions, to the North American energy industry. NorthStar’s assets include a 375-acre crude oil and sand logistics transloading and transportation terminal with 500,000 barrels of crude storage located in East Fairview, ND, a crude oil terminal with 160,000 barrels of crude storage located in Alexander, ND, a 23-mile, FERC-regulated crude oil pipeline located in McKenzie County, ND providing access to the Dakota Access Pipeline via the terminals in East Fairview and Alexander, a marine terminal located in Port Comfort, TX and an LNG production facility, marine loading dock and LNG barging operations in Jacksonville, FL.
For more information : http://northstarmidstream.com
Oaktree is a leader among global investment managers specializing in alternative investments, with $124 billion in assets under management as of September 30, 2018. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 900 employees and offices in 18 cities worldwide.
For more information : http://www.oaktreecapital.com
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