Over 27 years, Dallas-based Energy Transfer has grown from a modest operator with 200 miles of natural gas pipelines in East Texas, to a diversified midstream machine with 125,000 miles of pipelines and energy infrastructure across 41 states. ...

Less than three years ago, Kan-based Tallgrass Energy accepted a $4 billion investor buyout led by Blackstone that took the midstream company private. A name change to simply “Tallgrass,” and appointment of a new CEO quickly followed, along with a fresh strategy to diversify the business from an oil-and-gas pipeline transporter and processor, to an infrastructure company with an eye on new-energy frontiers. ...