IRVING, Texas--(BUSINESS WIRE)--JP Energy Partners, LP (JPEP) announced the appointment of Patrick Welch as the company’s Executive Vice President and Chief Financial Officer. Mr. Welch has been serving as the interim Chief Financial Officer for the company since November of last year.
Mr. Welch brings over 24 years of energy industry finance and accounting experience. Most recently he served as a Managing Director at Opportune LLP, a financial consultancy firm focused exclusively on the energy sector, where he focused primarily on providing IPO readiness services to energy companies. Mr. Welch previously served as Chief Financial Officer for Atlantic Power Corporation, a publicly traded independent power producer and for a privately-held renewable energy development and construction company.
Prior to Atlantic Power Corporation, Mr. Welch was Vice President and Controller of DCP Midstream and DCP Midstream Partners in Denver, Colorado where he was responsible for the accounting and public reporting functions of the company and played a significant role in the initial public offering of DCP Midstream Partners. Before DCP Midstream, Mr. Welch held various positions with Dynegy, Inc. in Houston, Texas including Vice President and Controller of Dynegy Generation and Assistant Corporate Controller. Mr. Welch started his career with PricewaterhouseCoopers LLP where he serviced several major energy clients, including one of the largest midstream master limited partnerships. Mr. Welch obtained his Bachelor’s Degree from the University of Central Oklahoma and is a Certified Public Accountant.
Mr. J. Patrick Barley, President and Chief Executive Officer of JP Energy Partners, LP stated, “We are excited to have Pat on board as our permanent CFO. He has served as our interim Chief Financial Officer for the past five months and we are confident that his diverse experience in the energy industry will be very beneficial to the continued growth and overall success of JP Energy Partners.”
About JP Energy Partners LP
JP Energy Partners (“JP Energy”) was formed in 2010 to focus on developing a platform of midstream assets to provide integrated services to suppliers and consumers of petroleum products. The company's assets include three million barrels of crude oil storage at Cushing, a crude oil pipeline system located in the Midland Basin gathering production from the Southern Wolfcamp, a crude oil transport operation doing business as JP Falco with operations in the Bakken, the Mid-Continent, the Permian and the Eagle Ford, two refined products terminals serving the Dallas and Little Rock markets, one of the largest propane distribution businesses in the U.S. with operations in 48 states, and the third largest propane cylinder exchange business in the U.S. The ownership and management team of JP Energy Partners bring extensive experience and a history of success in the energy business. Additional information about JP Energy Partners can be found at www.jpenergypartners.com.
About ArcLight Capital Partners, LLC
ArcLight Capital Partners, LLC is one of the leading private equity firms focused on North American energy infrastructure assets. Since its establishment in 2001, ArcLight has invested over $10 billion across multiple energy cycles in more than 100 power, midstream and production assets. Headquartered in Boston, Massachusetts with an additional office in Luxembourg, the firm's investment team brings extensive energy expertise, industry relationships, and specialized value creation capabilities to its portfolio. Visit www.arclightcapital.com for more information.
