Like in the real jungle, the corporate jungle has its own food chain.Being on the bottom of the corporate jungle food chain does not necessarily mean being eaten all the time, but it can translate to getting a lower base pay than most of your colleagues. And this applies to Chief Executive Officers as well. Whether as a matter of company strategy or personal choice, here are the public company CEOs who took home the least pay in 2011.
10 Brian Bierbach,American Midstream GP LLC –$251,615
Mr. Bierbach graduated with a degree in BS Civil Engineering from the University Arizona in 1981. He worked in managerial positions with ConocoPhillips from 1981 to 1987, Apache Corporation from 1987 to 1990, Dynegy from 1990 to 1991, Williams Energy Trading from 1994 to 1997 and as Senior Vice President at Enron Corp. North America from 1997 to 2000. His experience as company President started with Bear Paw Energy LLC and Crestone Energy Partner with which he worked from 2000 to 2002. He was also President of Cinergy Canada from 2003 to 2005 and Foothills Energy Ventures from 2006 to 2009 before joining American Midstream.
Founded in 2009, with its headquarters located in Denver, Colorado, American Midstream Partners LP engages in gathering, processing and transporting natural gas in the Gulf Coast and Southeastern US. They estimate their production at 500 million cubic feet per day. It has primary assets in Texas, Tennessee, Alabama and Louisiana. They own nine natural gas gathering systems, three processing facilities and operate around 1,400 miles of pipelines.
9 Ronald Foster, Compressco Partners–$250,000
Mr. Foster received his BS degree in Economics from Oklahoma State University in 1978.His work experience, which covers of 30 years of experience in the energy business, includes working with Wood Group, Halliburton and Dresser. He served as Compressco Senior Vice President of Sales and Marketing from 2002 to 2008 and assumed as President and Director on Oct. 31, 2008.
Compressco Partners offers compression-based production services for extraction of natural gas and oil. They provide monitoring and maintenance services for natural oil and gas wells. They also specialize in rehabilitating old wells with low formation pressures and new ones with relatively untimely production decline. Its headquarters is in Oklahoma City, Oklahoma.
8 Don Sinclair, Western Gas Equity Holdings LLC –$246,779
Mr. Sinclair earned his degree in Business Administration from the Texas Tech University.Before joining Duke Energy Trading and Marketing LLC in 1997, he worked for eight years in different managerial positions for Dynegy (formerly the NGC Corp.) and left a year later. He engaged in energy industry consulting before forming the Ceritas Energy II LLC in February 2003 and left the company in 2009 to be the President of WES GP. He has been Chief Executive Officer of the companysince January 2010.
Western Gas Partners specializes in gathering, processing and transporting crude oil, natural gas, condensate, and natural gas liquids. It has major assets in the Rocky Mountains of Colorado, Wyoming and Utah, Kansas, Oklahoma and Texas.
7 John Lipinski CVR Partners- $189,000
Mr. Lipinski graduated from the Stevens Institute of Technology with a degree in Chemical Engineering and also earned a Juris Doctor degree from Rutgers University in New Jersey. He has three patents to his name, one for an environmental control device and two for improvements to Mobil's Distillate Dewaxing Technology.He has over 38 years of experience in petroleum refining and nitrogen fertilizer industries, serving in various positions since 1985 before becoming Chief Executive Officer and President of Coffeyville Acquisition in 2005. He left the company to be CEO and President of Gary-Williams Energy Corp. in 2006. He eventually became CEO and President of CVR Refining GP LLC in September 2012. He is also a registered Professional Engineer in New Jersey, and a member of the Bar in New Jersey and Pennsylvania and has served clients all over the globe as an independent management consultant.
Specializing in the production, distribution and marketing of nitrogen fertilizer, CVR Partners touts itself as the only petroleum coke-based nitrogen fertilizer producing company in the USA. The company was founded in 2007 and is a subsidiary of Coffeyville Resources, LLC. Its headquarters is based in Sugar Land, Texas.
6 D. Hunt Ramsbottom,Rentech Nitrogen Partners– $148,651
Mr. Ramsbottomholds a Bachelor of Science Degree from Plymouth State College. He worked with Thompson PBE from 1989 to 1996 as Chairman, Secretary and CEO. He also worked with M2 Automotive as Chairman and CEO from 1997 to 2004 before joining with Rentech Nitrogen Partners as a consultant August the following year. He has been CEO of the company since December 2005 and President of Rentech Inc. since 2009. He assumed CEO of the Rentech Nitrogen GP LLC in 2011.
Rentech Nitrogen Partners specializes in producing fertilizer. It has two main facilities; onelocated in East Dubuque, Illinois and the other in Pasadena, Texas. The Dubuque facility specializes in nitrogen fertilizer products and serves mainly the “corn belt” region of the US, while the Pasadena facilitydeals with ammonium sulfate and has sales within the US and some parts of South America.
5 Ruben Martin,Martin Midstream Partners LP–$124,371
Mr. Martin holds a degree of Bachelor of Science Degree in Industrial Management from the University of Arkansas. He served as President of CG Martin Sulfur in 2000 and has been Director of the Martin Midstream GP LLC since 2002.He is now the President and Chief Executive Officer of Martin Resource Management Corp.
Martin Midstream Partners LP specializes in the marine transportation, storage, processing and packaging of petroleum products and by-products. It also deals with storage, processing and transport of natural gas, natural gasliquids, sulfur and sulfur-based products. Its operations are mainly in the US Gulf Coast region. It is an affiliate of Cross Oil Refining & Marketing, Inc.
4 William McManemin, Dorchester Minerals LP – $96,000
Mr. McManemin received his degree in BS Petroleum Engineering from the Texas A&M University in 1984 and immediately worked for Huddleston & Co. Inc. from 1984 to 1988. He also served on the board of directors in WAH Royalty Co. and Dale Gas Partners LP.In 1993 he served as a member of the Dorchester Mineral Management GP LLC and Smith Allen Oil and Gas Inc.Together with Mr. Allen he also co-founded SASI Minerals Company in 1988, Republic Royalty Company in 1993, Spinnaker Royalty Company LP in 1996 and CERES Resource Partners LP in 1998. Since 2001 he has served as CEO and manager of Dorchester Minerals Management GP LLC and Chief Executive Officer of Dorchester Minerals Operating GP LLC and Dorchester Minerals, LP. He has been a Registered Professional Engineer in Texas since 1988.
Dorchester Minerals deals in the acquiring, owning and administering to the production of natural gas and crude oil royalty. It has interests in 574 counties and 25 states in the US. Its headquarters is based in Dallas, Texas.
3 Alan Smith, QuantumEnergyPartners – $34,732
Mr. Smith graduated from Texas Tech University in 1985 with a BS degree in Petroleum Engineering.He has over 20 years of experience in oil and gas production and operations, serving with companies such as EXPLOR Energy, Burlington Energy and ARCO Oil and Gas Co. He entered Quantum as a venture partner and consultant in 2006 and joined the company’s management in 2009.Aside from his corporate duties he is also on the Petroleum Advisory Board of the Texas Tech Department of Petroleum Engineering and the Texas Tech Engineering Dean’s Council.He is also a member of the Stoney Creek Foundation.
QR Energy specializes in the acquisition, development and production of oil and natural gas in the US. It has over 4,500 wells in Alabama, Arkansas, Florida, Kansas, Louisiana, New Mexico, Texas, Michigan and Oklahoma. It estimates its reserves at 109.3 billion cubic feet of natural gas, 10.6 million barrels of natural, among others. Its headquarters is located in Houston, Texas.
2 Kelcy Warren -Energy Transfer Partners– $2,272 –$3,240
Mr. Warren started his career in the energy industry working for the Lone Star Gas Company before leaving to work for Endevco in 1981. From 1989 to 1990 he was Executive Vice President of Cornerstone Natural Gas and President as CEO of the same company from 1993 to 1996. From that year until 2000 he also sat on the Board of Directors of Crosstex energy. He has been the co-Chairman and co-CEO of Energy Transfer Partners since 2007.His interests are not just in energy. A big music fan, he co-founded his own recording studio in 2007 and has held private concertsin his home. He also bought the bankrupt Lajitas Resorts in Lajitas, Texas, and turned it into a real estate investment.He is listed the 595th richest person in the world, and the 212th richest in the US as of September 2011. His wealth is estimated at $2 billion.
Founded in 2001, Energy Transfer Partners, LP specializes in intrastate transportation and storage of natural gas. It has facilities in Louisiana, New Mexico, Texas and West Virginia. They also retail gasoline and middle distillates. The company’s headquarters is based in Dallas, Texas.
1 Richard Kinder, Kinder Morgan Energy Partners–$1
Mr. Kinder received his BA degree in 1966 from the University of Missouri and a Juris Doctor degree in 1968 from the same university. He started as a lawyers and real-estate investor before joined Enron, serving as it President and Chief Operating Officer from 1990 to 1996. He left the company that same year to co-found a new pipeline company with William Morgan. His new company bought Enron Liquids Pipeline and also merged with KN energy, forming what is now Kinder Morgan Energy Partners. As of 2011 he is ranked 112th richest American and his wealth has been estimated at US$9.4 billion.
Founded in 1997, Kinder Morgan Energy Partners specializes in fuel transportation and energy storage. It has an estimated 8,600 miles of petroleum pipelines, 1,500 miles of carbon pipelines, 33,000 miles of natural gas transmission pipelines, 113 liquid and bulk terminal facilities and 35 rail load handling facilities. Its headquarters is located in Houston, Texas.
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