Oiltanking Partners Announces Argo as President & CEO & Hymel as Vice President & CFO; Oiltanking Holding to Retain Texas Cit...
October 06 2014 - 6:48PM
Business Wire
Oiltanking Partners, L.P. (NYSE: OILT) (the "Partnership") today
announced that Laurie H. Argo has been appointed as President and
Chief Executive Officer of the Partnership's general partner
effectively immediately. Donna Y. Hymel has been appointed as Chief
Financial Officer of the Partnership’s general partner.
Ms. Argo has served as Vice President, NGL Fractionation,
Storage and Unregulated Pipelines for Enterprise Products Partners
L.P. since January 2014, managing a group of assets which generate
over a billion dollars per year in gross operating margin. From
2005 until January 2014, Ms. Argo held positions in the NGL and
Natural Gas Processing businesses for Enterprise, where her
responsibilities included the commercial and financial management
of four joint venture companies. Ms. Argo has 18 years of
experience in the energy industry. Prior to joining Enterprise, Ms.
Argo worked for San Diego Gas and Electric Company in San Diego,
California from 2001-2004, and PG&E Gas Transmission, a
subsidiary of PG&E Corporation, in Houston, Texas, from
1997-2000.
Ms. Hymel previously served as Controller and principal
accounting officer of the Partnership’s general partner since March
2011. She has also served as Controller of Oiltanking Holding
Americas, Inc. (“OTA”) since January 2001. Mrs. Hymel joined OTA in
April of 1995 as the Controller for Oiltanking Houston L.P. Since
that time, she has served as Corporate Secretary and Treasurer for
various OTA and Partnership entities. Prior to joining OTA, she
worked at BDO USA, LLP from January 1988 to April 1995 as an audit
manager. Mrs. Hymel is a Certified Public Accountant (CPA).
Kenneth F. Owen has resigned as President and Chief Executive
Officer. Jonathan Z. Ackerman and Brian C. Brantley have resigned
as Vice President and Chief Financial Officer and Vice President,
General Counsel and Secretary, respectively, of the Partnership’s
general partner.
During its Inaugural Analyst Day presentation on June 24, 2014,
the Partnership indicated that it was evaluating the purchase of a
marine and storage terminal in Texas City, Texas owned by an
affiliate of OTA, which would potentially be completed in late 2014
or early 2015. In a press release on October 1, 2014, OTA announced
that it would retain its ownership and operation of its terminal in
Texas City, Texas; therefore, the Partnership is no longer
evaluating the purchase of this asset.
Oiltanking Partners, L.P. is engaged in the marine terminalling,
storage and transportation of crude oil, refined petroleum products
and liquefied petroleum gas. The Partnership’s assets are located
along the Gulf Coast of the United States on the Houston Ship
Channel and in Beaumont, Texas. The Partnership’s general partner
is wholly-owned by an affiliate of Enterprise Products Partners
L.P. (NYSE: EPD). For more information, visit
www.oiltankingpartners.com.
Oiltanking Partners, L.P.For Investors:Mark Buscovich, (855)
866-6458Manager, FP&A and IRir@oiltankingpartners.comorFor
Media:Rick Rainey, (713) 381-3635Vice
Presidentrrainey@eprod.com
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