Energy Transfer Equity is an oil and gas pipeline empire built by billionaire Kelcy Warren with a spate of M&A deals (Sunoco, Southern Union) that paid off handsomely during the shale boom. In 2016 it counted a network of around 71,000 miles of pipelines pumping natural gas, natural gas liquids, refined products, and crude oil. But Warren’s luck ran out with a miscalculated approach for Williams Companies, just as the oil price crash took its toll on the “midstream” segment. ETE persuaded Williams to sell itself in September for $32.6 billion, but the value of both companies rapidly tumbled, leading the energy pipeline companies to call off the deal. Today Williams is worth about $24 billion, ETE is worth $18.5 billion, and both companies are making their way forward alone.
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News about Energy Transfer Equity
Multibillion dollar deals gone sour
They'd tried to oust Chief Executive Alan Armstrong, who was against the pipeline merger.
The two companies have sued each other.