OKLAHOMA CITY - Jan. 2, 2014 - The General Partners of Enable Midstream Partners, LP today announced that Lynn L. Bourdon III has been named president and CEO of the company effective February 1, 2014.
Bourdon, 51, joins the company from Enterprise Products Partners, LP, where he most recently served as group senior vice president of NGL & Natural Gas Marketing, Petrochemical, Refined Products & Marine Services. In this role, he was responsible for the marketing activities of the company while maximizing asset utilization and creating new opportunities in both domestic and international markets. He also utilized his experience in the gas processing, petrochemical and refining sectors to find creative solutions for suppliers and end-use customers alike while ensuring that the company's various assets were fully engaged. Bourdon joined Enterprise as senior vice president of NGL Supply & Marketing in 2003 and served in various senior management positions during his tenure there.
Prior to his employment at Enterprise Products, Bourdon served as senior vice president and chief commercial officer for Orion Refining Corporation. He also has held leadership positions at En*Vantage, PG&E Gas Transmission and Valero. Earlier in his career, he served in various capacities at the Dow Chemical Company. Lynn holds a Bachelor of Science degree in mechanical engineering from Texas Tech University and an MBA from the University of Houston.
"Lynn has deep natural gas and NGL experience, a risk-conscious management style and, most importantly, a marketing approach that focuses on creative solutions for our customers," said Scott Prochazka, Enable Midstream board member and CEO of CenterPoint Energy. "These qualities define Enable Midstream and make him the ideal choice to lead our new company."
Fellow Enable Midstream board member and CEO of OGE Energy Corp. Pete Delaney agreed that in Bourdon the company has identified the right candidate to lead the new partnership.
"This search has taken some time, but it was very important to the board that we identify a leader that can build on our combined strengths, move us forward with our integration efforts and position us for an IPO in 2014. We believe Lynn is the leader best suited to accomplish that immediate mission and carry us into the future," Delaney said.
"I'm excited to be joining Enable Midstream at such a pivotal time in our company's young history," Bourdon said. "We're starting with a strong foundation and a great team of dedicated employees. I look forward to building on the combined strength of our assets, our people and our customers as we move the company to the next level."
Enable Midstream is a joint venture formed in May 2013 that includes CenterPoint Energy, Inc. (NYSE:CNP) interstate pipelines and field services businesses and the midstream business of Enogex LLC, a previous subsidiary of OGE Energy Corp. (NYSE:OGE). It is managed by a general partner whose governance is shared by CenterPoint Energy and OGE on a 50/50 basis.
Enable Midstream owns, operates and develops strategically located natural gas and crude oil infrastructure assets. Its assets include approximately 11,000 miles of gathering pipelines, 11 major processing plants with approximately 1.9 billion cubic feet per day of processing capacity, approximately 7,800 miles of interstate pipelines (including Southeast Supply Header, LLC), approximately 2,300 miles of intrastate pipelines and eight storage facilities comprising 86.5 billion cubic feet of storage capacity. More information can be found at EnableMidstream.com.
CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and competitive natural gas sales and services operations. CenterPoint Energy owns a 58.3 percent limited partner interest in Enable Midstream and a 50 percent management interest in the general partner of Enable Midstream.
OGE Energy Corp. is the parent company of Oklahoma Gas & Electric, a regulated electric utility with approximately 805,000 customers in Oklahoma and western Arkansas. OGE Energy owns a 28.5 percent limited partner interest in Enable Midstream and a 50 percent management interest in the general partner of Enable Midstream.