-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, I1+ipcZjDZzV/MQ8VKBFksbh2RAbk3MFjRblUevPRyWqck32K7rh38w3rcjkPKfi vZj+sTQi8dqtda/tBBxaKQ== 0001104659-05-042029.txt : 20050830 0001104659-05-042029.hdr.sgml : 20050830 20050830144951 ACCESSION NUMBER: 0001104659-05-042029 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20050825 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050830 DATE AS OF CHANGE: 20050830 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MARKWEST HYDROCARBON INC CENTRAL INDEX KEY: 0001019756 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 841352233 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14841 FILM NUMBER: 051058515 BUSINESS ADDRESS: STREET 1: 155 INVERNESS DRIVE WEST STREET 2: SUITE 200 CITY: ENGLEWOOD STATE: CO ZIP: 80112-5004 BUSINESS PHONE: 3032908700 MAIL ADDRESS: STREET 1: 155 INVERNESS DRIVE WEST STREET 2: SUITE 200 CITY: ENGLEWOOD STATE: CO ZIP: 80112-5004 8-K 1 a05-15536_18k.htm 8-K

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 25, 2005

 

MarkWest Hydrocarbon, Inc. 

(Exact name of registrant as specified in its chapter)

 

Delaware

 

1-14841

 

84-1352233

(State or other jurisdiction
of incorporation or organization)

 

(Commission
File Number)

 

(IRS Employer
Identification No.)

 

155 Inverness Drive West, Suite 200, Englewood, CO

 

80112-5000

(Address of principal executive offices)

 

(Zip code)

 

Registrant’s telephone number, including area code: 303-290-8700

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 



 

ITEM 8.01.  ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

 

On August 25, 2005, MarkWest Hydrocarbon Inc. (“MarkWest”) announced that it engaged Ehrhardt, Keefe, Steiner & Hottman, PC, Certified Public Accountants and Consultants (“EKS&H”) to provide MarkWest’s internal audit function and to provide other accounting and consultation services to MarkWest on an as needed basis.  EKS&H will be compensated at hourly rates for actual time spent and will be reimbursed its reasonable expenses. MarkWest also announced the addition of Richard Ostberg as the Vice President of Compliance.  He will manage the EKS&H engagement and also be responsible for the Company’s Sarbanes-Oxley 404 compliance program.  He and his team will also provide key support for MarkWest’s back office integration project and corporate development due diligence processes.

 

Item 9.01.  FINANCIAL STATEMENTS AND EXHIBITS.

 

(c) Exhibits

 

The exhibit identified below is filed as part of this report:

 

Exhibit No.

 

Description of Exhibit

99.1

 

Press Release dated August 25, 2005.

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, MarkWest Hydrocarbon, Inc., as registrant, has duly caused this report to be signed on its behalf by the undersigned, thereunto authorized.

 

 

 

MarkWest Hydrocarbon, Inc.

 

(Registrant)

 

 

 

 

 

 

Date: August 30, 2005

By:

/s/

James G. Ivey

 

 

Name:

James G. Ivey

 

Title:

Chief Financial Officer

 

3



 

Exhibit Index

 

99.1

 

Press Release dated August 25, 2005

 

4


EX-99.1 2 a05-15536_1ex99d1.htm EX-99.1

Exhibit 99.1

 

 

MarkWest Hydrocarbon, Inc.

 

Contact:  

Frank Semple, President & CEO

155 Inverness Drive West, Suite 200

 

 

Jim Ivey, CFO

Englewood, CO 80112-5000

 

 

Andy Schroeder, VP and Treasurer

(800) 730-8388

 

 

Phone:

(303) 290-8700

(303) 290-8700

 

 

E-mail:

investorrelations@markwest.com

(303) 290-8769 Fax

 

 

Website:

www.markwest.com

 

MarkWest HYdrocarbon Announces the hiring of Richard Ostberg as its vice
president of compliance and the ENgagment of Ehrhardt, keefe, steiner &
hottman, Pc to provide Internal Audit services to MarkWest

 

DENVER—August 25, 2005—MarkWest Hydrocarbon, Inc. (AMEX: MWP)—MarkWest Hydrocarbon announced today that it has entered into a service agreement with Ehrhardt, Keefe, Steiner & Hottman, PC, Certified Public Accountants and Consultants (“EKS&H”) to provide internal audit services.  Under the terms of the agreement, EKS&H will provide these services along with other accounting and consultation services on an as needed basis and will be compensated for actual time and expenses.

 

“EKS&H will provide another key resource in our ongoing efforts to strengthen our accounting, controls and financial reporting processes,” said Frank Semple, President and Chief Executive Officer. “I am also pleased to announce the addition of Richard Ostberg to our senior management team.  Richard, as the Vice President of Compliance, will manage the EKS&H engagement and also be responsible for our Sarbanes-Oxley 404 compliance program.  He and his team will also provide key support for our back office integration project and corporate development due diligence processes. “Richard comes to us with a very strong technical background in accounting, auditing and compliance developed in his former positions including those with Black Hills Corporation where he spent four years, most recently as Vice President and Controller of Black Hills Energy, the company’s non-regulated energy operations.”

 

Prior to Black Hills, Ostberg spent four years with Pacific Minerals, Inc, the operator of the Bridger Coal mine and spent eight years with Deloitte & Touche in their audit practice, including two years consulting from his national office assignment in Washington DC. 

 

“These enhancements to our accounting, control and compliance capabilities reinforce our continued focus and commitment to rapidly improve the accuracy and efficiency of the financial reporting required by the SEC and expected by our shareholders,” said Semple.  “We have obviously missed the mark on these requirements over the past several quarters and this has become my overarching priority for our ongoing business.  The issues involved in filing the MarkWest Hydrocarbon prior year financial statements and current year 10Qs have required complicated accounting analysis and the process has clearly been more complex than originally anticipated.  However, we are continuing to work diligently with our present and former outside auditors’ local and national offices to complete the review and filing of these financial statements and to also meet the AMEX requirements.

 

We are intent on continuing to strengthen our organizational capabilities and implementing the changes required to avoid future accounting and financial reporting problems.  We are deep in the process of an intensive search for a new chief accounting officer.  As we continue to grow our business it is essential that our accounting and financial reporting functions receive a high level of focus and support.  For that reason the new CAO will report directly to me.  Both the board of directors and I are committed to measurable improvement and we will continue to provide updates as to our progress.”

 

###

 



 

MarkWest Hydrocarbon, Inc. (AMEX: MWP) controls and operates MarkWest Energy Partners, L.P. (AMEX: MWE), a publicly-traded limited partnership engaged in the gathering, processing and transmission of natural gas; the transportation, fractionation and storage of natural gas liquids; and the gathering and transportation of crude oil. We also market natural gas and NGLs.

 

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. The forward-looking statements involve risks and uncertainties that affect our operations, financial performance and other factors as discussed in our filings with the Securities and Exchange Commission. Among the factors that could cause results to differ materially are those risks discussed in our Form 10-K for the year ended December 31, 2003, and our Forms 10-Q, as filed with the SEC.

 


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