About

Our Focus

We are focused on providing flexible and innovative natural gas and natural gas liquids, processing, transportation and NGL service solutions to the producer community. We take a long-term, relationship based approach to our business to develop solutions which balance the sharing of risk and reward with our partners.

Why partner with Veresen Midstream?

Collaborative, Producer-Centric Approach
Our goal is to align ourselves with producers’ objectives. We work closely with our producer partners to understand their production forecasts and other needs and plan facilities accordingly.

Innovative and Unique Contractual Structure
We believe in creating solutions that work for our customers, tailoring contractual structures to fit specific producers’ needs.

Leveraging Synergies within our Existing Footprint
We have a large footprint in the heart of the Montney region where we have the opportunity to drive efficiencies, including labour and inventory.

Experienced Operator in the Montney
Veresen Midstream has operated the Hythe/Steeprock sour gas facilities since 2012 with >99% facility reliability, while maintaining a track record of safety and environmental stewardship.

Cost-Effective Construction
We are focused on building safe and environmentally progressive facilities at costs that add value for our customers.

Management Team

Dave Dunlop

Dave Dunlop

Chief Financial Officer

Dave Dunlop is a senior finance professional with over 25 years of experience in the energy industry. As CFO of Veresen Midstream through a shared services agreement, Dave is responsible for accounting and financial reporting, finance and treasury. Previously Dave held the position of Vice President, Controller for Veresen. Prior to joining Veresen in 2013, Dave worked with Talisman Energy for 19 years where he held a variety of progressively more senior roles within accounting and financial reporting, including five years as Controller.

Dave holds a Bachelor of Commerce degree from the University of Alberta, a Chartered Accountant designation and a Master of Business Administration from Northwestern University and York University.

Chris Rousch

Chris Rousch

Vice President, Operations & Commercial

Chris Rousch leads the development of growth projects for Veresen Midstream. Previously Chris served as Vice President, Business Development for Veresen where he played a key role in developing the company’s Midstream business and the establishment of Veresen Midstream. Chris also served as a member of Veresen’s Executive Leadership Team. Chris joined Veresen in 2012 as Vice President, Midstream, where he was responsible for establishing Veresen’s operated Midstream division. Prior to joining Veresen, Chris held increasingly senior engineering and project development roles at Provident Energy.

Chris holds a Bachelor of Science degree in Chemical Engineering from Queen’s University, a Master of Business Administration from Queen’s University and a Master of Business Administration from Cornell University. Chris is a registered Professional Engineer and a Certified Management Accountant.

Tri Le

Tri Le

Director, Financial and Administrative Services

Tri Le is a senior finance professional who brings over 10 years of midstream-related experience. He is responsible for accounting and administrative for Veresen Midstream. Tri originally joined Veresen in 2012 as Director, Midstream Accounting where he was responsible for establishing Veresen’s accounting function for the Midstream division. Prior to joining Veresen, Tri held increasingly senior accounting roles at AltaGas and Keyera.

Tri holds a Bachelor of Commerce degree in Accounting and an MBA, Finance Specialization degree both from the Haskayne School of Business at the University of Calgary. In addition, he holds a Chartered Professional Accountant (previously Certified Management Accountant) designation.

INVESTORS

Equity Investment
Equity investment of over $1.6 billion to date from Veresen Midstream and KKR.

Debt
Veresen Midstream has total debt capacity in excess of $2.7 billion(1) Canadian, including the following:

  • CAD $1,680 million of Expansion Facilities to fund the sanctioned development projects currently under construction; provided by a syndicate of Canadian and foreign banks with a maturity date of March 31, 2020
  • CAD $125 million of Revolving Facilities to fund general working capital requirements; provided by a syndicate of Canadian and foreign banks with a maturity date of March 31, 2020
  • US $725 million of Term Loan B facilities; traded under the Bloomberg security ID Number BL1719576  (VERMID), with a maturity date of March 31, 2022

(1) Assumes CAD/USD exchange of 1.30

For further information on Veresen Midstream’s credit facilities, please contact investor relations by email at investor-relations@pembina.com, or by phone at 403-231-3156 / 1-855-880-7404.

Our Owners

pembina

Calgary-based Pembina is a leading transportation and midstream service provider that has been serving North America's energy industry for over 60 years. Pembina owns and operates an integrated system of pipelines that transport natural gas and various products derived from natural gas and hydrocarbon liquids produced primarily in western Canada. The Company also owns and operates gas gathering and processing facilities and an oil and natural gas liquids infrastructure and logistics business. Pembina's integrated assets and commercial operations along the majority of the hydrocarbon value chain allow it to offer a full spectrum of midstream and marketing services to the energy sector. Pembina is committed to working with its community and aboriginal neighbours, while providing value for investors in a safe, environmentally responsible manner. This balanced approach to operating ensures the trust Pembina builds among all of its stakeholders is sustainable over the long term. Pembina's common shares trade on the Toronto and New York stock exchanges under the symbols PPL and PBA, respectively. Pembina's preferred shares also trade on the Toronto stock exchange. For more information, visit www.pembina.com.

kkr

Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a leading global investment firm with approximately US$125 billion in assets under management. KKR manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, capital markets, credit strategies, and hedge funds.

KKR is committed to deepening its presence in the Canadian energy sector, having committed over US$2 billion of equity capital to companies in the sector since 2010. KKR is publicly traded on the New York Stock Exchange (NYSE: KKR). For more information about KKR visit kkr.com.

Board of Directors

Don Althoff
President and Chief Executive Officer, Veresen Inc.

Don Althoff is a senior business executive with a proven track record of delivering results across a range of energy businesses within a “Fortune 25” company. He has deep knowledge of the fuels supply chain marketplace, including manufacturing, pipeline, terminal, trading and retail sales. Most recently, Don was Chief Executive Officer of Flex Fuels US LLC. He was also with BP PLC and Amoco Corporation for 27 years. He brings to Veresen extensive operating expertise and his leadership will be instrumental in Veresen’s future growth.

Don holds a Bachelor of Engineering from the University of Illinois, has completed financial management studies at Indiana University, and management programs at Stanford and Harvard universities.

Theresa Jang
Senior Vice President Finance and Chief Financial Officer, Veresen Inc.

Theresa Jang is a senior finance professional with over 25 years of experience in the energy industry. As Senior Vice President, Finance and Chief Financial Officer, Theresa is responsible for accounting and financial reporting, taxation, finance, treasury, risk management, and information technology. Previous to this appointment, Theresa held the positions of Vice President, Finance & Risk Management and Vice President, Controller for Veresen. Prior to joining Veresen in 2006, Theresa worked with TransCanada Corp. for 16 years where she held a variety of progressively more senior roles within accounting and financial reporting, including four years as Controller of TC PipeLines, LP.

Theresa holds a Bachelor of Commerce degree from the University of Calgary and a Chartered Accountant designation.

David Fitzpatrick
President & Chief Executive Officer, Veresen Midstream

David Fitzpatrick joined Veresen Midstream as President & Chief Executive Officer in July 2015. David brings over 25 years of experience in the upstream oil and gas industry where he served in leadership, management, planning and technical roles for several public energy companies. He was Co-founder, President and Chief Executive Officer of Shiningbank Energy, and most recently served as Interim Chief Executive Officer of Lone Pine Resources. David has a depth of experience at the board level, having served on the Board of Directors of Eagle Energy, PrimeWest Energy, Shiningbank Energy and Twin Butte, among others. Mr. Fitzpatrick has served on the Board of Governors of the Canadian Association of Petroleum Producers and is a member of APEGA and the Society of Petroleum Engineers.

David holds a Bachelor of Science degree in Geological Engineering from Queen’s University and completed the Queen’s Executive Program in 1994.

Raj Agrawal
Member & Head of Infrastructure – North America, KKR

Raj Agrawal joined KKR in 2006 and has 15 years of experience in infrastructure, energy and private equity investing. He is the Global Co-Head of KKR’s Infrastructure business and is Chairman of the Infrastructure Investment Committee. He is a member of the boards of directors of the Colonial Pipeline Company, Bayonne Water JV and Torq Energy Logistics. Prior to joining KKR, he was a vice president with Warburg Pincus, where he was involved in the execution and oversight of a number of investments in the energy and infrastructure sector. Raj’s prior experience also includes Thayer Capital Partners, where he played a role in the firm’s business and manufacturing services investments, and McKinsey & Company, where he provided strategic, merger, and acquisition advice to clients in a variety of industries.

He holds a B.A., Honors and Distinction, Phi Beta Kappa, from Stanford University and an M.B.A., Arjay Miller Scholar, from the Stanford University Graduate School of Business.

Brandon Freiman
Member, Energy and Infrastructure, KKR
Brandon Freiman joined KKR in 2007 and is a Member on the North American Infrastructure team, with additional leadership responsibility for KKR’s Canadian Energy and Infrastructure business. He has been involved in KKR’s investments in Veresen Midstream, Westbrick Energy, Torq Energy, Bayonne Water, El Paso Midstream, Del Monte Foods, and Energy Future Holdings. He currently sits on the boards of Veresen Midstream, Westbrick Energy, Energy Future Holdings, Samson Resources, Torq Energy Logistics and Bayonne Water JV. Prior to joining KKR, Brandon was with Credit Suisse Securities in its energy investment banking group, where he was involved in a number of merger, acquisition, and other corporate advisory transactions. He holds a Bachelor of Commerce, with a Joint Honors in Economics and Finance, from McGill University.
Ken McCagherty
President and Chief Executive Officer, Westbrick Energy Inc.

Ken McCagherty is the Chief Executive Officer of Westbrick Energy Ltd. Prior to founding Westbrick Energyin 2011, Ken served as the Chief Executive Officer and President at West Energy Ltd. from 2002 to 2010.  He served as the Chief Operating Officer of PetroBank Energy and Resources Ltd. from March 2000 to November 2002 and its Vice President from October 2001 to November 2002. He served as Director of Business Development of Pacalta Resources Ltd. from 1996 to 1998.

Ken McCagherty holds a Bachelor of Science in Chemical Engineering from the University of Alberta.