2024 is almost in the books! It was another exciting and successful year for Energy Transfer and Sunoco, with everything from impactful acquisitions and a major pipeline deal to sports sponsorships and record-breaking donations. As we wind down the remaining days until the New Year, let’s take a look back at some of the highlights of 2024.
JANUARY
Sunoco LP Acquired NuStar Energy L.P.
In a deal valued at $7.3 billion, Sunoco, which is part of the Energy Transfer family, acquired NuStar L.P., an independent liquids terminal and pipeline operator with approximately 9,500 miles of pipeline and 63 terminal and storage facilities that store and distribute crude oil, refined products, renewable fuels, ammonia and specialty liquids.
FEBRUARY
Energy Transfer and Sunoco Signed First Joint Multi-Year Partnership With Stake F1 Team KICK Sauber
Sunoco and Energy Transfer reached an agreement with Switzerland-based Sauber Motorsport to sponsor its Stake F1 Team KICK Sauber, marking the first time these two companies have entered a marketing partnership. The two-year partnership began with the 2024 season with Energy Transfer and Sunoco logos displayed on the team’s car for the three Formula 1 Grand Prix races in the U.S.
MARCH
The Energy Transfer/Sunoco Foundation Awarded a $200,000 Grant to the North Texas Food Bank to Address Hunger
The Energy Transfer/Sunoco Foundation provided a $200,000 grant to help The North Texas Food Bank (NFTB) meet the growing demand for food assistance. The funds enabled the NTFB to provide 600,000 meals to North Texas residents experiencing hunger. The gift was part of a sponsorship that features the Energy Transfer and Sunoco logos on two co-branded NTFB trucks recently unveiled as part of its new fleet that delivers food in the food bank’s 10,000-square-mile service area.
Texas Rangers Announced a Multi-Year Agreement With Energy Transfer
Texas Rangers and Energy Transfer expanded their partnership to include a multi-year deal in which Energy Transfer became the official jersey patch partner of the 2023 World Series Champion Rangers. The agreement marked the first time that the Rangers had a jersey patch partner. Texas was one of only 19 Major League teams with a jersey sponsorship in 2024. Energy Transfer has been a partner of the Rangers since 2018.
APRIL
Kelcy Warren Received SMU Cox’s Maguire Energy Institute’s Award for Energy Leadership and Innovation
To celebrate the 50th Anniversary of SMU Cox’s Maguire Energy Institute, the organization honored Energy Transfer Co-Founder and Executive Chairman Kelcy Warren with the L. Frank Pitts Award for Energy Leadership and Innovation for his outstanding personal and professional accomplishments. Before his fireside chat, Kelcy was introduced with a video tribute featuring Energy Transfer colleagues Tom Long (co-CEO), Brian Beebe (EVP, Gas Gathering & Optimization) and Cliff Harris (Director, Sales) talking about their relationship with Kelcy and describing him as an industry leader and an outstanding contributor to the community.
MAY
Energy Transfer Reports Strong First Quarter Results
Energy Transfer started the year strong, reporting 13% growth in adjusted EBITDA over Q1 2023 driven by increased crude oil transportation, NGL transportation and fractionation, midstream gathering and interstate transportation volumes.
Energy Transfer won the International Liquid Terminals Association’s Platinum Safety Award
The International Liquid Terminals Association (ILTA) recognized Energy Transfer with the esteemed Platinum Safety Award for outstanding safety performance in 2023. This award highlights Energy Transfer’s strong safety culture and dedication to continuous improvement.
JUNE
Energy Transfer Donated $100,000 to Louisiana Nonprofits
Representatives of Energy Transfer visited five parishes in Louisiana to gift $100,000 to 11 nonprofit organizations. The donations addressed a variety of needs, from food insecurity and public safety to healthcare and children’s enrichment.
JULY
Energy Transfer Completed its Acquisition of WTG Midstream Holdings
Energy Transfer’s completion of its acquisition of WTG Midstream added approximately 6,000 miles of gas-gathering pipelines that extend Energy Transfer’s network in the Midland Basin. Also, as part of the transaction, Energy Transfer added eight gas processing plants with a total capacity of approximately 1.3 Bcf/d, and two additional processing plants that are under construction.
Energy Transfer and Sunoco Announced a Strategic Permian Basin Crude Oil Joint Venture
Energy Transfer and Sunoco formed a joint venture combining their crude oil and produced water-gathering assets in the Permian Basin. Energy Transfer serves as the operator of the joint venture and contributed its Permian crude oil and produced water gathering assets and operations while Sunoco contributed all of its Permian crude oil gathering assets and operations. The joint venture operates more than 5,000 miles of crude oil and water gathering pipelines with crude oil storage capacity in excess of 11 million barrels.
AUGUST
Energy Transfer Reported Another Strong Quarter With Second Quarter Earnings
In second quarter earnings, Energy Transfer had another strong showing, with 21% growth in adjusted EBITDA over Q2 2023 driven by record volumes through our crude oil and NGL pipelines (up 23% and 4%, respectively) as well as record NGL exports (up 3%).
Energy Transfer’s Donation to Support ALS Research at Houston Methodist Reached $200,000
Houston Methodist received a $100,000 philanthropic gift from Energy Transfer to fund clinical research for ALS patients. This was the most recent contribution made as part of Energy Transfer’s continued partnership with Houston Methodist, amounting to $200,000 in support of ALS research in the past two years.
SEPTEMBER
Tom Long was Named to the TXSE Group Board of Directors
Energy Transfer co-CEO Tom Long was selected to serve on the board of directors for the soon-to-be Texas Stock Exchange | TXSE Group Inc, a new Dallas-based national exchange option to the New York Stock Exchange (NYSE) and Nasdaq. Long and Executive Chairman Kelcy Warren joined Texas Governor Greg Abbott for the official unveiling of the executive leadership team and board members.
OCTOBER
D CEO Named Tom Long Midstream Executive of the Year
Tom Long was honored by winning Midstream Executive of the Year in D CEO’s 2024 Energy Awards. D CEO’s Energy Awards honor outstanding leaders in oil and gas and energy finance who continue innovating and moving the industry forward.
NOVEMBER
Energy Transfer Continued its 2024 Momentum With a Strong Third Quarter Earnings Report
Energy Transfer had yet another strong quarter, with 12% growth in adjusted EBITDA over Q3 2023. We also saw record performance in crude oil transportation volumes (up 25%), midstream gathered volumes (up 6%), NGLs produced (up 26%), and NGL fractionation volumes (up 12%) and transportation volumes (up 4%).
Kelcy Warren was Named a Finalist for the 2024 Platts Global Energy Awards in the Lifetime Achievement Category
Often described by attendees as the “Oscars” of energy, the Platts Global Energy Awards recognize corporate and individual innovation, leadership, and exemplary performance in 19 categories spanning the entire energy and chemicals complex. Kelcy Warren was selected as a finalist for the award in recognition of his many years of leadership in the industry and for his guidance and influence at Energy Transfer, which have played a pivotal role in the company’s success.
Energy Transfer and Sunoco Donated $2 Million to Support Pediatric Cancer Research at MD Anderson
The University of Texas MD Anderson Cancer Center announced a $2 million donation from Energy Transfer and Sunoco as a result of its 2024 workplace giving campaign. Funds raised through employee donations and corporate matching support pediatric cancer research and treatment at MD Anderson. Since 2014, Energy Transfer and Sunoco employees have led fundraising efforts that have donated more than $17 million to MD Anderson.
DECEMBER
Energy Transfer Announced the Hugh Brinson Pipeline Connecting Permian Basin Production Supplies to Multiple Markets
Energy Transfer reached a positive final investment decision (FID) for the construction of an intrastate natural gas pipeline connecting Permian Basin production to premier markets and trading hubs. The new large-diameter pipeline, previously called the Warrior Pipeline, will now be known as the Hugh Brinson Pipeline. The pipeline will provide much-needed transportation capacity out of the Permian Basin to serve growing natural gas demand.
Here’s to a great year and continued success in 2025!
