H. Michael Krimbill is the man running NGL Energy Partners. Like its name suggests, NGL Energy Partners specializes in natural gas liquids as well as other energy products and services, which is the product of a sustained interest in expansion. Here are 10 things that you may or may not have known about H. Michael Krimbill:
1. Went to Michigan State University
For his education, Krimbill went to Michigan State University. Said school was founded in 1855 under the name of Agricultural College of the State of Michigan, so it should come as no surprise to learn that it came into existence for the purpose of teaching scientific agriculture to interested individuals. However, the school went on to experience a huge expansion in both its curriculum and its number of students, thus enabling it to reach its current status as one of the biggest institutions of higher education in the United States.
2. Studied Accounting
In school, Krimbill studied accounting, which is what some people have called the language of business. Some people might be surprised by this name, but if so, they should remember that said field is what makes it possible to communicate anything about a business’s finances. As a result, it is fundamental to business in a way that even the most widespread languages such as English and Mandarin Chinese cannot hope to match.
3. Came to NGL Energy Partners Through Heritage Propane Partners
Krimbill came to NGL Energy Partners through its predecessor, which was called Heritage Propane Partners. As such, he possesses plenty of experience with the sector, though he entered it through the financial side of things.
4. Rose to the Position of CFO at NGL Energy Partners
This can be seen in how Krimbill rose to the position of CFO at NGL Energy Partners. It is important to note that accounting and finance are one and the same. After all, accounting is concerned with reporting information about a business’s financial situation, whereas finance is concerned with making choices that will have an impact on a business’s financial situation. However, there can be no doubt about the fact that the two fields have a strong connection with one another.
5. Rose to the Position of President at NGL Energy Partners
Besides CFO, Krimbill rose to the position of President at NGL Energy Partners as well. Generally speaking, the President is someone in charge of the entire organization that has been entrusted to them, meaning that they are at either the top or one step below the top of the corporate hierarchy.
6. Believes in Capitalizing on Opportunities for Growth
Unsurprisingly, Krimbill believes in capitalizing on opportunities for growth. Something that has provided impetus to a number of acquisitions over the course of NGL Energy Partners’s existence.
7. Believes in Vertical Integration
In most sectors, there can be a lot of steps for how a product reaches the intended consumer. The processes used to bring these steps under the same corporate umbrella are called by the collective name of vertical integration. Krimbill’s strong belief in vertical integration can be seen very clearly in the synergistic nature of NGL Energy Partners’ acquisition.
8. Saw Opportunities in Mobile Transport
Previously, Krimbill and his executive team saw enormous potential in mobile transport services. Essentially, interest in mobile transport services was fueled by the inability of pipeline construction to keep up with the demand, thus creating the need for something to make do in the meantime.
9. Saw Opportunities in Water Services
Besides this, Krimbill and his executive team also saw potential in water services, which means cleaning the water generated as a byproduct of oil production so that it can be returned to the earth without causing horrific pollution in the process.
10. Planned Ahead with Water Services
It is interesting to note that NGL Energy Partners was more thorough with its water services than most of its competitors. In this, Krimhill was seeking to plan ahead because he and his executive team believed that both environmental legislation and consumer interest would push matters towards increased thoroughness anyways, meaning that they were just preempting a trend that was going to happen whether they liked it or not.