Thomas Boone Pickens, known as T. Boone Pickens, is a legendary energy investor but the 89-year old has announced that due to health reasons and failing returns in the oil & gas sector he is shutting down his BP Capital energy hedge fund. Pickens got his start in the oil and gas industry in the 1950s after his family took advantage of the oil booms in Oklahoma and Texas. Pickens graduated from Oklahoma A&M (now Oklahoma State University) in 1951 with a degree in geology. From there, he jumped straight into the family business at Phillips Petroleum.

He worked there until he founded his own oil company, which later became known as Mesa Petroleum, to raise the capital he needed to start BP Capital Management, the parent company his two hedge funds that were widely known for corporate takeovers. The remaining fund, BP Capital Fund Advisors, will remain open. Below are the five largest positions in that portfolio, according to a November 2017 filing with the SEC. 

Energy Transfer Partners LP

Energy Transfer Partners LP (NYSE: ETP) was founded in Texas in 1995 as a small natural gas pipeline operator. The company now has a market cap of $23.1 billion and oversees more than more than 71,000 miles of natural gas, natural gas liquids (NGLs), refined products, and crude oil pipelines. In April of 2017, the company acquired Sunoco Logistics Partners. 

Energy Transfer Partners is the developer of the Dakota Access Pipeline, which runs through North Dakota, South Dakota, Iowa, and Illinois and began commercial service in 2017. 

WPX Energy Inc

WPX Energy Inc (NYSE: WPX), based in Tulsa, specializes in producing oil, natural gas, and natural gas liquids. It operates on over 500,000 acres in the Delaware, Williston, and San Juan basins in Texas, New Mexico, North Dakota, New Mexico, and Colorado. 

The company has a market cap of $6 billion and saw its stock price rise steadily in the third quarter of 2017. The stock was trading at $15.09 as of January 12, 2018. 

Enterprise Products Partners LP

Since Enterprise Products Partners LP (NYSE: EPD) went public in 1998, the Houston-based pipeline company has grown its asset base from $715 million to a market cap of $62 billion as of 2017. The company oversees 50,000 miles of pipeline and 26 natural gas processing plants and announced two facilities expansions in Texas in January of 2018.

According to the Houston Business Journal, Enterprise Products Partners is the Houston area's sixth-largest public company. 

ProPetro Holding Corp

ProPetro Holding Corp (NYSE: PUMP) is a Texas-based oilfield services company with a market cap of $1.8 billion. ProPetro provides hydraulic fracturing services to upstream oil and gas companies working in the field of North American exploration and production. 

In December 2017, executives Christopher Leininger and Stephen Herman resigned from the Board of Directors. Pryor Blackwell, a prominent Texas businessman and founder of Bandera Ventures, was appointed to the board at the same time. 

Forum Energy Technologies Inc

Headquartered in Houston, TX, Forum Energy Technologies Inc (NYSE: FET) is an international oilfield products company. The company was formed in 2010 as the result of a merger between Forum Oilfield Technologies, Triton Group, Subsea Services International, Global Flow Technologies and Allied Technology. 

Forum Energy Technologies has a market cap of $1.9 billion. 

 

 

 

 

 

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