Midstream Panel Lead by Adam Bedard, Hinds Howard, Manuel Prieto, and Michele Joy
How are regional regulatory differences affecting optimal infrastructure build-out? What does the future hold for MLPs in a possible lower-for-longer price environment? How are companies managing counterparty risk in this environment? What is the likelihood for more asset consolidation? How are contracts being renegotiated or altered to keep barrels flowing through midstream assets? What regions are showing signs of promise at $40 oil?
Adam Bedard is a co-founder, member of the Board of Directors of Denver-based ARB Midstream, LLC, and the company’s Chief Executive Officer. ARB Midstream, founded in 2014, is a private equity backed, midstream and logistics company focused on crude oil, gas liquids and refined markets throughout the inland corridor of North America. Over the past 24 months, ARB has successfully completed over $150MM in acquisitions and new build projects. Most recently, ARB acquired the Platte River Gathering System, a 157,000 b/d crude oil gathering system located in the heart of the DJ Basin, one of the most prolific shale plays in North America. Mr. Bedard’s background includes over 20 years of experience with a focus on strategic analysis of the North American energy markets. Immediately prior to forming ARB Midstream, he was the Vice President of Strategic Planning and Market Analysis for NGL Energy Partners, and Fortune 500 company. Mr. Bedard as a B.S. in Civil Engineering from CU Colorado, is a certified Professional Engineer, and has an MBA in Finance from Wharton (Class of ’08).
Hinds Howard is a Portfolio Manager and Principal at CBRE Clarion Securities in Radnor, PA. He is responsible for the firm’s MLP investment strategy as a member of the firm’s listed infrastructure investment team. Mr. Howard joined CBRE Clarion in 2013. Prior to that, he was a portfolio manager at Guzman Investment Strategies, where he managed MLP portfolios. Mr. Howard previously worked for Lehman Brothers, first in the investment banking division (focused on MLPs) and subsequently for an investment fund investing in MLPs. Mr. Howard has over 12 years of listed MLP and North American energy investment experience. He has published a blog on MLPs since 2009 (mlpguy.com), which he updates with weekly commentary.
Manuel Prieto: Partner, McKinsey & Company, Houston Manuel advises clients in the petrochemicals, midstream oil and gas, and private equity sectors on strategy and portfolio optimization, and has specialized in unconventional gas assets. Within McKinsey, he is a member of the Oil & Gas Practice and leads the midstream oil and gas service line in North America.
Manuel has supported clients on midstream strategy for emerging unconventional basins in North America, portfolio strategy and evaluation for integrated projects along the unconventional gas value chain, strategies for entering unconventional gas gathering and processing, and growth strategies for unconventional oil and gas resources. Manuel also has extensive experience with due diligence for midstream, terminals, and storage assets, including quantifying the impact of changes in netbacks on throughput.
Prior to McKinsey, Manuel worked at ExxonMobil in Refining & Supply and Fuels Marketing and at Tenaris in commercial planning.
He holds an MBA from Rice University.
Michele Joy is Vice President for Major Projects and Regulatory of Shell Midstream Partners and Shell Pipeline Company. She is responsible for drop downs and organic growth strategy, as well as Shell Pipeline’s tariff, land and permitting groups. Prior to this role, she managed major onshore and offshore pipeline projects delivering approximately $ 2 billion in new investments. Between 2008 and 2012, she led Shell Pipeline’s Business Development group during a period of significant growth. She has also served as a Shell representative on a number of joint ventures including Colonial Pipeline Company, LOOP LLC, Poseidon Pipeline Company LLC, and Explorer Pipeline Company. Michele is a member of the U.S. Department of Transportation’s Hazardous Liquid Pipeline Safety Advisory Committee and the Association of Oil Pipe Lines’ Economic Regulatory Committee.
Prior to joining Shell, Michele was the General Counsel for the Association of Oil Pipe Lines from 1991 to 2006. In that role, she was heavily involved in the industry’s and regulators’ joint work to simplify economic regulation at the FERC; improve pipeline safety at DOT (especially pipeline integrity and eliminating outside force damage); and support EPA’s environmental improvements such as ULSD implementation. Michele also served 5 years as an adjunct professor at Northwestern University’s Transportation Institute and spent 8 years in private practice, with a focus in gas and electric regulation and international law.
Michele earned her B.A. from Carleton College and her J.D. from American University’s Washington College of Law.