Business Context and Reporting Period
This Form 8-K Current Report was filed by Energy Transfer Equity, L.P. on July 17, 2012. The filing reports a corporate governance event involving the appointment of a new director to the Board of Directors of LE GP, LLC, the general partner of the Partnership.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
The material change reported is the appointment of Matthew S. Ramsey to the Board of Directors of LE GP, LLC and to its Audit Committee. The filing confirms there have been no transactions since the beginning of the last fiscal year involving amounts exceeding $120,000 in which Mr. Ramsey had a material interest.
Management Commentary and Risks
Management notes that Mr. Ramsey is currently the President of several private oil and gas partnerships, including RPM Exploration, Ltd., Ramsey Energy Management, LLC, Dollarhide Management, LLC, and Gateshead Oil, LLC. The filing explicitly states there are no arrangements or understandings pursuant to which Mr. Ramsey was appointed as a director.
Investor Verification Points
- Confirm the effective date of Matthew S. Ramsey's appointment to the Board and Audit Committee.
- Verify the absence of any undisclosed transactions exceeding $120,000 involving Mr. Ramsey since the start of the last fiscal year.
- Review Mr. Ramsey's current roles at RPM Exploration, Ltd., Ramsey Energy Management, LLC, Dollarhide Management, LLC, and Gateshead Oil, LLC for potential conflicts of interest.