CorEnergy Infrastructure Trust, Inc. (NYSE: CORR) today announced three new additions to its senior management team. Mike Jonagan and Jeff Fulmer joined Corridor InfraTrust Management, LLC, CorEnergy’s manager, as Senior Directors and will be primarily responsible for originating acquisitions, structuring lease agreements, managing operating partner relationships and overseeing CorEnergy’s portfolio of energy infrastructure real property assets. Rick Kreul has been named President of Mowood LLC, the company’s wholly-owned subsidiary. Mr. Kreul will be responsible for overseeing operations and developing strategic growth opportunities for both Mowood and its wholly-owned subsidiary, Omega Pipeline Company (“Omega”).
“These three new executive team members raise the bar for CorEnergy, expanding our capacity to evaluate and oversee a diverse portfolio of real property energy assets,” said David Schulte, Managing Director of Corridor and Chief Executive Officer of CorEnergy. “Jeff, Mike and Rick are engineers who bring a diverse range of energy sector experience to our team and we are pleased to have them on board.”
Mr. Jonagan comes to Corridor with more than 25 years of U.S. and international experience in the energy sector. He is a petroleum and mechanical engineer and has taken on a wide range of executive roles including managing electric and natural gas assets (regulated and unregulated) as well as telecommunications, construction, mining and energy trading operations. He has expertise in business restructuring, asset divestiture via sale or public offering and structured finance to support large capital investment projects. Most recently, Mr. Jonagan served as a Vice President and Country Manager for AES Corporation. Prior to his work with AES, Mr. Jonagan spent more than a decade in various roles, including Vice President of Capacity Services and Chief Executive Officer of U.S. Networks at Aquila Inc., which was an international electric and gas utility.
Mr. Fulmer has more than 29 years of energy industry experience and spent the last six years as a Senior Advisor with Corridor’s affiliate Tortoise Capital Advisors L.L.C. (“Tortoise”), an investment manager specializing in listed energy investments. At Tortoise he led the company’s retail marketing efforts. He will continue to support the Tortoise team as they transition his role. As a petroleum engineer and professional geologist, Mr. Fulmer’s experience includes work for the U.S. Department of Defense (DoD), where he headed a group of infrastructure analysts engaged globally in critical infrastructure analysis, assessment and protection. Prior to the DoD, Mr. Fulmer served as president of Redland Energy, was senior vice president of Statoil Energy and held engineering and geological positions with ARCO Oil and Gas and Tenneco Oil Exploration and Production.
A mechanical engineer, Mr. Kreul has over 33 years of energy industry experience including a previous stint as President of Omega Pipeline Company, which, among other things, serves Fort Leonard Wood, Missouri with natural gas distribution services. Mr. Kreul spent nearly a decade at the international electric and gas utility, Aquila Inc., as Vice President of Energy Delivery and later served as a Vice President at Inergy, L.P. His expertise includes strategic planning, business development, operations reengineering, and mergers and acquisitions. Along with his duties at Omega, he will support Corridor as needed to perform due diligence on potential asset acquisitions.
About CorEnergy Infrastructure Trust, Inc.
CorEnergy Infrastructure Trust, Inc. (NYSE: CORR), primarily owns midstream and downstream U.S. energy infrastructure assets subject to long-term triple net participating leases with energy companies. These assets include pipelines, storage tanks, transmission lines and gathering systems. The Company's principal objective is to provide stockholders with an attractive risk-adjusted total return, with an emphasis on distributions and long-term distribution growth. Formerly Tortoise Capital Resources Corp., CorEnergy previously traded under the ticker TTO. For more information, please visit corenergy.corridortrust.com.
About Corridor InfraTrust Management, Inc.
Corridor InfraTrust Management, LLC is a real property asset manager focused on U.S. energy infrastructure real assets. Corridor is the manager of CorEnergy Infrastructure Trust (NYSE: CORR) and is an affiliate of Tortoise Capital Advisors, L.L.C., a registered investment adviser with approximately $11.4 billion of assets under management in the U.S. energy infrastructure sector as of March 31, 2013. For more information, please visit www.corridortrust.com.
Rachel Stroer, 877-699-CORR (2677)
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