United Energy Trading

What United Energy Trading does

United Energy Trading, LLC (UET) is a fully integrated energy marketing and logistics organization founded in 2002 and headquartered in Lakewood (Denver), Colorado, operating as a subsidiary of United Energy Corporation. The company moves approximately 2.3 billion cubic feet per day of natural gas, 530,000 barrels per day of crude oil, and 2.7 million gallons per day of NGLs and refined products across more than 120 pipelines in North America through 16 strategically located offices. UET pioneered crude-by-rail unit train shipments from the Bakken, Eagle Ford, and Denver-Julesburg basins in 2009 and constructed and subsequently sold the Pawnee Crude Terminal in 2015.

UET serves producers, wholesale counterparties, and commercial/industrial end users through six core service lines: Wholesale Services (price optimization, risk management, production aggregation), Refined Products (diesel and gasoline distribution via major pipeline systems), Midstream Assets (origination, transportation, marketing), End User Services (multi-year structured natural gas supply contracts up to five years), Green/Renewable Energy (Green-e certified carbon offsets, RECs, RNG, biofuels), and Upstream Services (last-mile refined product delivery to drilling and frac operations). The company also distributes retail natural gas through wholly-owned subsidiaries Callective Energy (California), Kratos Gas and Power (Ohio/Michigan), Uncle Frank Energy Services (Nebraska/Wyoming), UET Northeast Retail Group, and United Green Energy.

Revenue is generated primarily through transactional trading margins, price differentials, distribution fees, and service fees on commodity volumes, supplemented by subscription-style multi-year hedging contracts with commercial/industrial customers. Energy experts average 25 years of industry experience, with senior leadership drawn from Amoco, BP, Continental Resources, Macquarie Energy, and Western Gas Resources. The company has been Green-e certified since 2014 and became a full carbon footprint offset company in 2021.

Name

United Energy Trading

Legal name

United Energy Trading, LLC

Website

https://unitedenergytrading.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

51–100 employees

Short description

United Energy Trading is a fully integrated energy marketing and logistics organization founded in 2002 that moves 2.3 bcf/day of natural gas, 530,000 bbl/day of crude oil, and 2.7M gallons/day of refined products across 120+ North American pipelines, serving producers, wholesale counterparties, and commercial/industrial end users via regional offices and retail subsidiaries.

Ownership category

akta.pro rank

Product category

Energy Marketing and Logistics

NAICS

Commodity Contracts Intermediation (52316), Petroleum and Petroleum Products Merchant Wholesalers (4247), Natural Gas Distribution (221210), Fuel Dealers (45721)

SIC

Commodity Contracts Brokers & Dealers (6221), Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172), Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

Natural Gas Wholesale Trading & Marketing (EUAGAAAB)

akta.pro secondary industries

Crude Oil & Refined Products Trading & Marketing (EUAGAAAD), NGLs & LPG Trading & Marketing (EUAGAAAE), Energy Risk Management, Analytics & Back-Office (ETRM/CTRM) (EUAGAAAO), Pricing, Valuation & P&L (MTM, Curve Building) (EUAGAJAF), Wholesale Renewable Power Trading (Day-Ahead, Intraday, Bilateral) (EUAMAMAA), Power (Electricity) Wholesale Trading & Marketing (EUAGAAAA)

Keywords

• Natural gas marketing
• Crude oil logistics
• Refined products distribution
• Energy risk management
• Carbon offsets RECs

Headquarters

HQ city

Lakewood

HQ country

United States

HQ region

North America

Offices15 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Natural Gas Trading and Marketing: Wholesale and retail natural gas trading, price optimization, and risk management services. Revenue generated through trading margins, price differentials, and service fees across 2.3 bcf/day of natural gas volume.
2. Crude Oil Trading and Logistics: Crude oil acquisition, transportation (pipeline, rail, truck), storage and blending. Handles 440,000 barrels per day through lease purchasing, pipeline capacity, and terminal operations.
3. Refined Products Trading and Distribution: Wholesale and rack-level diesel and gasoline distribution across Gulf, East, Mid-Continent, and Rocky Mountain regions. Revenue from trading margins and distribution fees on 2.7 million gallons per day of NGLs/refined products.
4. Renewable Energy and Carbon Credits: Green-e certified carbon offsets, RECs, RNG, and biofuels. Revenue from selling environmental commodities to customers seeking to reduce carbon footprints and improve ESG scores.
5. Midstream Asset Services: Pipeline transportation, storage services, and terminal operations. Previously constructed Pawnee Crude Terminal; ongoing midstream development projects across the energy spectrum.
6. End User Services: Customized natural gas supply to commercial and industrial customers with price volatility management, asset optimization, and risk mitigation. Revenue from service fees and trading spreads.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels4 records

Core offering

United Energy Trading is a fully integrated energy marketing and logistics organization that trades, transports, and markets natural gas, crude oil, NGLs, and refined products across North America. It provides wholesale/retail trading, price risk management and hedging, midstream and upstream logistics, and Green-e certified carbon offsets and renewable energy products.

Product overview

United Energy Trading (UET) operates as a fully integrated energy marketing and logistics organization providing services across the energy spectrum. The company's core offerings include Wholesale Services (price optimization, risk management, production aggregation for natural gas, NGLs, and crude oil), Refined Products (diesel and gasoline distribution via multiple pipeline systems), Midstream Assets (transportation logistics and marketing), End User Services (customized natural gas for industrial/commercial customers), Green/Renewable Energy (RNG, biofuels, RECs, carbon offsets), and Upstream Services (fuel delivery to wellhead including diesel, CNG, and specialty products). UET also operates several retail sub-brands including Callective Energy (California), Kratos Gas and Power (Ohio/Michigan), Uncle Frank Energy (Nebraska/Wyoming), and United Green Energy (worldwide renewables). The company transports product over 120 pipelines across North America with volumes of 2.3 bcf natural gas, 530,000 bbl crude oil, and 2.7 million gallons of NGLs/Refined Products per day.

Differentiator

Problem solved

Functional benefit

Brands

• Kratos Gas and Power: Retail natural gas services for Ohio and Michigan markets
• Uncle Frank Energy Services
• UET Northeast Retail Group

Products and services

• Wholesale Services Price optimization, risk management, production aggregation, wellhead balancing, contract negotiation assistance, and transportation and storage services for natural gas, NGLs, and crude oil, serving producers, wholesale customers, and counterparties.
• Refined Products Wholesale marketing and distribution of diesel and gasoline with price management structures for stable pricing, active in Gulf, East, Mid-Continent, and Rocky Mountain regions via major pipeline systems including Colonial, Plantation, Magellan, and Kinder Morgan.
• Midstream Assets Full-spectrum origination, transportation logistics, and marketing including terminal and pipeline services; formerly operated the Pawnee Crude Terminal (sold in 2015), with ongoing midstream development projects.
• End User Services Customized natural gas purchasing solutions for industrial and commercial customers including price volatility management, asset management, and pricing for periods up to five years, serving hotels, greenhouses, chemical companies, and aerospace manufacturers.
• Green/Renewable Energy Renewable energy offerings including renewable natural gas (RNG), biofuels, RECs, ethanol, and carbon-neutral solutions, including 100% greenhouse gas offset options using Green-e Climate certified carbon offsets.
• Upstream Services Refined product last-mile delivery directly to the wellhead including Ultra Low Sulfur Diesel, CNG, and gasoline, plus specialty onsite products such as fuel storage tanks, CNG depressurizing trailers, auto frac fueling systems, and wireless fuel tank monitors for drilling and frac operations.
• Callective Energy Retail energy marketing sub-brand serving California customers with green energy choices including Carbon Offset Green Gas.
• Kratos Gas and Power Retail gas and power sub-brand serving Ohio and Michigan customers with flexible rate plans including green options.
• Uncle Frank Energy Services Retail energy sub-brand serving Nebraska and Wyoming customers with affordable, environmentally friendly energy options.
• United Green Energy (UGE) Renewable energy services sub-brand offering bio-diesel, renewable natural gas, RECs, ethanol, and carbon offset products worldwide.

Quantifiable outcome

• 2.3 bcf/day natural gas volume
• +3 more outcomes

Named customers9 records

Segments7 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• 4OceanminorStrategic or Co-development Partner · 1 January 2019Environmental partnership for ocean cleanup. Combined efforts of UET, Callective, and UGE with 4Ocean have helped remove over 3,500 pounds of trash from oceans since 2019.
• Plant-It 2020minorStrategic or Co-development Partner · 1 January 2019Environmental partnership for reforestation. Combined efforts with Plant-It 2020 have helped plant over 40,103 trees since 2019.
• Children's Hospital ColoradocoreOthers · 1 January 2019UET's leadership team has donated over $330,000 to Children's Hospital Colorado since 2019, supporting programs including Extended Reality Program, Children's One Emergency Transport Program, Partners for Children's Mental Health, and Medical Simulation Lab.
• Leukemia and Lymphoma Society (LLS) - Light the NightcoreOthers · 1 January 2003UET has participated in Light the Night fundraising walk annually since 2003, raising over $360,000 total for blood cancer research. UET received Hero Impact Award twice (2022, 2023) and Silver Level Partners Against Blood Cancer Award in 2018.
• Callective EnergycoreStrategic or Co-development PartnerLongstanding partnership allowing UET to continue providing cost-effective sustainable solutions. Callective Energy ensures communities in California have the best green energy choices and has offset 113,977 tons of CO2 equivalent to the average consumption of 25,000 homes.
• United Green Energy (UGE)coreStrategic or Co-development PartnerLongstanding partnership with UGE allows UET to offer customers worldwide a multitude of renewable energy services and products including bio-diesel, RNG, RECs, ethanol, and carbon offsets to help offset carbon. UGE is a platinum sponsor partner with UET at events.
• Kratos Gas and PowercoreChannel Partner/ Reseller/ DistributorUET subsidiary operating as retail energy provider for Ohio and Michigan markets. Part of UET's retail energy marketing divisions alongside Callective Energy and Uncle Frank Energy Services.
• Uncle Frank Energy ServicescoreChannel Partner/ Reseller/ DistributorUET subsidiary operating as retail energy provider for Nebraska and Wyoming markets. Part of UET's retail energy marketing divisions.

Scale indicators20 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Castleton Commodities International: Merchant commodity trader with comparable mid-sized North American footprint spanning natural gas, power, crude, refined products and environmental products; directly competes with UET in wholesale energy marketing and physical trading.
• Tenaska Marketing Ventures: Mid-market US-focused natural gas and power marketing firm, with similar regional sales force, asset management, and structured hedging offerings to UET's End User Services and wholesale natural gas businesses.
• Mansfield Energy: North American refined products distributor serving commercial fleets, industrial buyers and gas stations, analogous to UET's rack-level refined product distribution at 30+ terminals and downstream supply for independent gas stations.
• World Kinect (formerly World Fuel Services): Global energy marketing company delivering refined products and sustainability services to commercial, industrial and transportation customers; overlaps directly with UET's refined products, upstream fuel, and renewables lines.
• Twin Eagle Resource Management: Mid-market North American energy marketing and logistics firm trading natural gas, NGLs and power with regional offices similar to UET's 16-office US footprint.

Broad incumbents

• Mercuria Energy Trading: One of the world's largest independent commodity traders spanning crude, refined products, natural gas, and environmental products; competes with UET in North American wholesale desks but at materially greater scale.
• Hartree Partners: Global energy and commodities merchant with North American natural gas, power, crude and refined product activities; larger and more diversified, but overlapping on physical/financial trading desks.
• Macquarie Energy: Commodities trading arm of Macquarie Group active in North American natural gas, power and crude markets; represented on UET's leadership background through Kurt Batenhorst's prior tenure there.
• NRG Energy: Large US retail electricity and natural gas provider serving residential and SMB customers; competitive overlap with UET's retail gas subsidiaries in deregulated states (CA, OH, MI, NE, WY, Northeast).

Emerging players

• 3Degrees: Specialist in RECs, carbon offsets and renewable energy procurement for corporates; competes with UET's Green/Renewable Energy and United Green Energy lines on environmental commodity sales.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/united-energy-trading-llc

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about United Energy Trading