OKLAHOMA CITY, Jan. 19, 2015 /PRNewswire/ — American Energy Partners, LP (AELP) today announced that it has hired David C. Shiels as the Chief Executive Officer of its affiliate American Energy – Midstream, LLC (AE-MidCo). Shiels, 49, previously worked for Access Midstream Partners, LP (NYSE: ACMP) and Chesapeake Midstream Partners (CHKM) for five years as Chief Financial Officer. During his tenure at ACMP and CHKM, the business grew to be one of the premiere gathering and processing MLP’s in the industry and has recently been acquired by the Williams Companies, Inc.
Prior to ACMP and CHKM, Shiels worked for the General Electric Company (GE) for 13 years where he held multiple regional chief financial officer roles with subsidiaries of GE. Mr. Shiels most recently served as Chief Financial Officer of GE Security Americas. Prior to GE, he spent nine years with Conoco, Inc. in various finance and operational roles. Mr. Shiels graduated from Michigan State University with a Bachelor of Arts degree in banking and finance in 1988.
AE-MidCo was formed by AELP in June 2014 to acquire midstream assets primarily in high-growth areas in which AELP upstream affiliates are active. AE-MidCo has been capitalized by a $500 million equity commitment provided by The Energy & Minerals Group (EMG) and additional equity provided by AELP management and affiliated parties.
This press release contains forward-looking statements. Forward-looking statements express views regarding future plans and expectations. They include statements that include words such as “may,” “could,” “would,” “should,” “believe,” “expect,” “anticipate,” “plan,” “estimate,” “target,” “project,” “intend” and similar words or expressions, although not all forward-looking statements contain such identifying words.
Forward-looking statements in this press release include statements regarding AE-MidCo’s future operations. These statements are based on numerous assumptions and are subject to known and unknown risks and uncertainties, many of which are beyond our control. These risks include, but are not limited to, commodity price volatility, inflation, lack of availability of equipment and services, environmental risks, other operating risks, and regulatory changes. Actual future results may vary materially from those expressed or implied in these forward-looking statements, and AE-MidCo’s business, financial condition and results of operations could be materially and adversely affected by numerous factors, including such known and unknown risks and uncertainties. As a result, forward-looking statements should be understood to be only predictions and statements of our current beliefs, and not as guarantees of performance.
About American Energy Partners, LP:
American Energy Partners, LP was founded by Aubrey K. McClendon in April 2013 to capitalize on opportunities available in unconventional resource plays onshore in the U.S. For additional information, please visit www.americanenergypartners.com.
About American Energy – Midstream, LLC:
American Energy – Midstream, LLC is a midstream company affiliated with American Energy Partners, LP (AELP). AE-MidCo was formed in June 2014 to acquire midstream assets primarily in high-growth areas in which AELP upstream affiliates are active.
About The Energy & Minerals Group:
EMG is the management company for a series of specialized private equity funds. The Firm was founded by John Raymond (majority owner and CEO) and John Calvert in 2006. EMG focuses on investing across various facets of the global natural resource industry including the upstream and midstream segments of the energy complex. EMG has approximately $17.1 billion of regulatory assets under management (RAUM) and approximately $8.1 billion in commitments have been allocated across the energy sector since inception.
SOURCE American Energy Partners, LP