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.
We are focused on building safe and environmentally progressive facilities at costs that add value for our customers.
President and Chief Executive Officer
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 Veresen Inc. He was also with Flex Fuels US LLC., BP PLC and Amoco Corporation for 27 years.
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.
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.
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.
Manager, Financial and Admin 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.
Equity investment of over $1.6 billion to date from Veresen Midstream and KKR.
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 firstname.lastname@example.org, or by phone at 403-231-3156 / 1-855-880-7404.
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.
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
In addition to Legal, Harry oversees Pembina's Land, Regulatory and Aboriginal Relations departments, as well as Environment and External Communications. He has extensive experience in major merger and acquisition transactions, project development, joint ventures, financings, reorganizations and restructurings.
Harry has considerable experience in most aspects of the energy industry, including: petroleum, natural gas and other product pipelines and related storage and terminalling facilities. He is also experienced in matters related to natural gas storage, processing and other upstream and midstream facilities, traditional and wind power projects and greenhouse gas credits. Harry received his Bachelor of Law degree from the University of Calgary.
Scott was named Senior Vice President & Chief Financial Officer on June 30, 2017. He oversees the Company's financial operations, investor relations, treasury, tax, risk management, corporate planning, corporate development and capital market financings.
Prior to his current role, Scott served as Pembina's Vice President, Finance & Chief Financial Officer from January 1, 2015 to June 30, 2017, as Vice President, Capital Markets from October 2013 to the end of December 2014 and as Vice President, Corporate Development & Investor Relations from March 2013 to October 2013. In these roles, Scott was responsible for guiding Pembina through its corporate-level financial analyses of business opportunities in addition to strategic development and planning, acquisitions and divestitures.
He also supported the Company’s participation in the capital markets by evaluating various financing alternatives, and oversaw Pembina’s investor relations and related marketing initiatives.
Before joining Pembina in November 2010, Scott spent seven years in energy-focused investment banking where he provided advice and counsel related to mergers and acquisitions, dispositions, joint ventures and equity and debt financings. He has considerable experience in most aspects of the energy industry, including: petroleum, natural gas and other product pipelines and related infrastructure facilities. Scott has a Bachelor of Commerce from the University of British Columbia and is also a CFA® Charterholder.
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.
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Jaret is responsible for the Company's natural gas processing, extraction, fractionation and storage facilities.
Jaret Sprott joined Pembina as Vice President of its Gas Services business unit in January 2015 and was accountable for the safe, reliable and responsible management of Gas Services’ existing operations and infrastructure. During that time, he also lead the continued growth of Pembina’s gas gathering and processing throughput as well as its portfolio of assets and customer base.
Prior to joining Pembina, he had extensive upstream and gas services experience, having most recently worked at Encana Corporation in a senior management position, where he oversaw the growth of the company’s core liquids plays in Alberta and British Columbia while managing the day-to-day operations and maintenance of non-core assets in the region.
Jaret also brings a background in strategic planning, engineering, operations and facility construction.
He graduated with a Bachelor of Applied Science in Petroleum Systems Engineering from the University of Regina in 2002 and is a member of APEGA.