Tag Archives: Kinder Morgan Management

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Kinder Morgan Energy Partners Completes Sale of One-Third Interest in Express-Platte Pipeline System

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By Business Wirevia The Motley Fool

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Kinder Morgan Energy Partners Completes Sale of One-Third Interest in Express-Platte Pipeline System

HOUSTON–(BUSINESS WIRE)– Kinder Morgan Energy Partners, L.P. (NYS: KMP) , today announced that it has closed its previously announced sale of its one-third interest in the Express-Platte Pipeline System to Spectra Energy Corp for approximately $380 million pre-tax. KMP‘s joint venture partners in Canada (Ontario Teachers’ Pension Plan Board and Borealis Infrastructure, the infrastructure investment arm of the OMERS pension plan) also sold their interests in the pipeline system, as Spectra Energy Corp purchased 100 percent of Express-Platte—a 1,700-mile oil pipeline system connecting Canadian and U.S. producers to refineries in the Rocky Mountain and Midwest regions of the United States.

Based on the structure of KMP‘s investment with the Express-Platte Pipeline partners, KMP received approximately $15 million of cash flow on an annual basis from its investment, consisting primarily of debenture interest. KMP plans to redeploy the proceeds from the sale into various growth projects to further benefit its unitholders.

Kinder Morgan Energy Partners, L.P. (NYS: KMP) is a leading pipeline transportation and energy storage company and one of the largest publicly traded pipeline limited partnerships in America. It owns an interest in or operates more than 44,000 miles of pipelines and 180 terminals. The general partner of KMP is owned by Kinder Morgan, Inc. (NYS: KMI) . Kinder Morgan is the largest midstream and the third largest energy company in North America with a combined enterprise value of approximately $100 billion. It owns an interest in or operates more than 73,000 miles of pipelines and 180 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO2 and other products, and its terminals store petroleum products and chemicals and handle such products as ethanol, coal, petroleum coke and steel. KMI owns the general partner interests of KMP and El Paso Pipeline Partners, L.P. (NYS: EPB) , along with limited partner interests in KMP, Kinder Morgan Management, LLC (NYS: KMR) and EPB. For more information please visit www.kindermorgan.com.

This news release includes forward-looking statements. These forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although Kinder Morgan believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance that such assumptions will materialize. Important factors that could cause actual …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Kinder Morgan Companies File 2012 Annual Reports

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By Business Wirevia The Motley Fool

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Kinder Morgan Companies File 2012 Annual Reports

HOUSTON–(BUSINESS WIRE)– Kinder Morgan, Inc. (NYS: KMI) , Kinder Morgan Energy Partners, L.P. (NYS: KMP) , Kinder Morgan Management, LLC (NYS: KMR) and El Paso Pipeline Partners, L.P. (NYS: EPB) have filed their annual reports on Form 10-K for the year ended Dec. 31, 2012, with the Securities and Exchange Commission (SEC).

Chairman and CEO Richard D. Kinder’s shareholder letters to KMI, KMP, KMR and EPB and annual reports on Form 10-K are available free of charge on the Kinder Morgan web site at www.kindermorgan.com in the Investors section.

All Kinder Morgan shareholders may also receive a hard copy of their respective annual report on Form 10-K, which includes the audited financial statements, free of charge upon request. Send requests to Kinder Morgan, Inc., Kinder Morgan Energy Partners, L.P., Kinder Morgan Management, LLC or El Paso Pipeline Partners, L.P., at the following address: 1001 Louisiana Street, Suite 1000, Houston, Texas 77002, Attention: Investor Relations.

Kinder Morgan is the largest midstream and the third largest energy company in North America with a combined enterprise value of approximately $100 billion. It owns an interest in or operates approximately 75,000 miles of pipelines and 180 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO2 and other products, and its terminals store petroleum products and chemicals and handle such products as ethanol, coal, petroleum coke and steel. Kinder Morgan, Inc. (NYS: KMI) owns the general partner interests of Kinder Morgan Energy Partners, L.P. (NYS: KMP) and El Paso Pipeline Partners, L.P. (NYS: EPB) , along with limited partner interests in KMP and EPB and shares in Kinder Morgan Management, LLC (NYS: KMR) . For more information please visit www.kindermorgan.com.

This news release includes forward-looking statements. Although Kinder Morgan believes that its expectations are based on reasonable assumptions, it can give no assurance that such assumptions will materialize. Important factors that could cause actual results to differ materially from those in the forward-looking statements herein are enumerated in Kinder Morgan’s Forms 10-K and 10-Q as filed with the Securities and Exchange Commission.

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Source: FULL ARTICLE at DailyFinance
Business, Finance, Occupation & Industry

Kinder Morgan Energy Partners Increases Ownership Stake to 100 Percent in El Paso Natural Gas Pipeli

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By Business Wirevia The Motley Fool

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Kinder Morgan Energy Partners Increases Ownership Stake to 100 Percent in El Paso Natural Gas Pipeline and Midstream Assets

HOUSTON–(BUSINESS WIRE)– Kinder Morgan Energy Partners, L.P. (NYS: KMP) today announced that it has completed the previously announced acquisition (drop down) of 50 percent of El Paso Natural Gas Company, L.L.C. (EPNG) and 50 percent of former El Paso Midstream assets in Utah and South Texas from Kinder Morgan, Inc. (NYS: KMI) . The transaction has a total value of approximately $1.655 billion, including approximately $560 million of proportional debt at EPNG. The transaction is expected to be immediately accretive to cash available for distribution to KMP unitholders. KMP now owns 100 percent of both EPNG and the midstream assets. The transaction, which closed and is effective March 1, was approved by the independent boards of both KMI and Kinder Morgan Management, L.L.C. (NYS: KMR) .

KMP purchased the assets at about eight times 2013 EBITDA. KMP funded 10 percent of the transaction value, net of debt assumed, with KMP units valued at approximately $110 million that were issued to KMI at closing. The remaining value was funded with cash. KMI intends to use the proceeds from the dropdown to pay down debt that was associated with the May 2012 purchase of El Paso Corporation.

EPNG is a 10,200-mile pipeline system with a design capacity of about 5.6 billion cubic feet per day (Bcf/d) of gas. It transports natural gas from the San Juan, Permian and Anadarko basins to California, other western states, Texas and northern Mexico. EPNG has up to 44 Bcf of working natural gas storage capacity.

The midstream assets include Altamont gathering, processing and treating assets in the Uinta Basin in Utah and the Camino Real gathering system in the Eagle Ford shale in South Texas. The Altamont System has over 1,200 miles of pipeline infrastructure, over 450 well connections with producers, and it operates a processing plant with a design capacity of over 60 million cubic feet per day (MMcf/d) of gas being expanded to 80 MMcf/d and a 5,600 barrel per day (bpd) natural gas liquids fractionator. The Camino Real Gathering System has 150 MMcf/d of gas gathering capacity and 110,000 bpd of oil gathering capacity.

In connection with the transaction, BofA Merrill Lynch provided certain financial advisory services to the board of directors of Kinder Morgan, Inc. Greenhill & Co., LLC provided certain financial advisory services to the conflicts and audit committee of the board of directors …read more
Source: FULL ARTICLE at DailyFinance