Nov. 20, 2014, 2:09 PM
- Kinder Morgan (KMI -0.9%) confirms that shareholders and unitholders at KMI, Kinder Morgan Partners (NYSE:KMP), Kinder Morgan Management (NYSE:KMR) and El Paso Pipeline (NYSE:EPB) approved all proposals related to bringing all four pipeline companies under one roof.
- KMI also projects a 16% dividend increase to $2/share for 2015, and expects to grow the dividend by ~10%/year during 2015-20 while producing excess coverage of more than $2B.
Sep. 22, 2014, 4:56 PM
- Veresen (OTC:FCGYF), which plans to build a terminal to ship liquefied natural gas to Asia from Oregon, agrees to buy Global Infrastructure Partners’ 50% stake in the Ruby pipeline for $1.43B.
- The 680-mile pipeline supplies gas from Wyoming to the Malin hub in Oregon, which connects to a pipeline that would feed Veresen’s proposed Jordan Cove LNG terminal on the state’s coast.
- The proposed LNG facility won approval from the U.S. Energy Department in March to export the fuel; Kinder Morgan (KMI, KMP) owns the other half of the Ruby pipeline and will continue to operate it.
Aug. 10, 2014, 9:37 PM
- Consolidating its oil-and-gas pipeline empire into a single company, Kinder Morgan (NYSE:KMI) will purchase Kinder Morgan Energy Partners (NYSE:KMP), Kinder Morgan Management (NYSE:KMR), and El Paso Pipeline Partners (NYSE:EPB).
- The MLP structure is limiting, says Richard Kinder. Combining the four companies into one unit "will allow us to further expand the reach of the kind of projects we can do."
- KMP unitholders will receive 2.1931 KMI shares and $10.77 in cash for each KMP unit, or $89.98, a 12% premium to Friday's close (based on KMI's Friday close).
- KMR shareholders will receive 2.4849 KMI share for each share of KMR, or $89.75, a 16.5% premium to Friday's close (based on KMI's Friday close).
- EPB unitholders will receive .9451 KMI shares and $4.65 in cash for each EPB unit, or $38.79, a 15.4% premium to Friday's close (based on KMI's Friday close).
- In conjunction with the deal, KMI expects a $2 annual dividend in 2015, a 16% boost to 2014's anticipated payout. The dividend is expected to grow about 10% per year through 2020.
- A conference call is set for Monday morning at 8:30 ET.
Dec. 23, 2013, 8:55 AM
- Kinder Morgan Partners (KMP. KMI) agrees to buy two oil tanker companies from affiliates of Blackstone Group and Cerberus Capital Management for $962M.
- American Petroleum Tankers has a fleet of five medium range Jones Act qualified product tankers, each with 330K barrels of cargo capacity.
- State Class Tankers has ordered four medium range Jones Act qualified product tankers, each with 330K barrels of cargo capacity, scheduled to be delivered in 2015 and 2016; KMP plans to invest ~$214M to complete construction of the vessels.
Jan. 30, 2013, 2:48 AM
Kinder Morgan (KMP) agrees to acquire Copano Energy (CPNO) for $3.2B in stock, or $5B including debt, with Kinder's offer of $40.91 a share representing a 23.5% premium to Copano's close yesterday. The deal will provide Kinder with natural gas assets in Texas, Oklahoma and Wyoming, adding 6,900 miles of pipelines to the company's 46,000 existing miles. (PR)| Jan. 30, 2013, 2:48 AM | 21 Comments
Dec. 11, 2012, 7:10 AM
Spectra Energy (SEP) plans to buy the Express-Platte System pipeline for $1.49B to give it an edge in transporting crude oil across North America. The transaction should add between three cents and five cents to full-year earnings, according to the company. Kinder Morgan (KMP), one of the current owners of the pipeline, will receive close to $380M in the deal.| Dec. 11, 2012, 7:10 AM | 4 Comments
Aug. 20, 2012, 3:46 PM
Analysts say Kinder Morgan Partners' (KMP -0.5%) asset sale to receive FTC approval for its El Paso acquisition removes uncertainty and allows management to focus on other things. The price KMP got for its assets was "right down the fairway" of expectations, a Raymond James analyst says, adding the El Paso deal should bring in "very transparent, low-risk organic growth." KMI +1.9%.| Aug. 20, 2012, 3:46 PM
Aug. 20, 2012, 9:02 AM
Aug. 6, 2012, 4:19 PMKinder Morgan Partners (KMP) will acquire 100% of Tennessee Gas Pipeline and a 50% interest in El Paso Natural Gas from Kinder Morgan (KMI) for ~$6.22B, including ~$1.8B in assumed debt at Tennessee Gas and ~$560M of proportional debt at El Paso. The moves "will generate substantial, stable cash flow to KMP and its unitholders for many years to come," KMI says. | Aug. 6, 2012, 4:19 PM | 1 Comment
Apr. 26, 2012, 6:25 AM
Mar. 15, 2012, 3:15 PM
Kinder Morgan (KMI -0.1%; (KMP -1.8%) reaches a “verbal tentative agreement” with federal regulators to sell ~7,200 miles of pipeline to gain approval of its $23B acquisition of El Paso (EP +1%). The sale could bring in as much as $3B and reduces the combined companies’ market share in the Rocky Mountains to 38% from ~52%.| Mar. 15, 2012, 3:15 PM
Oct. 24, 2011, 2:10 PMKinder Morgan (KMP +1.1%) [[agrees to buy]] SouthTex Treaters for $155M. SouthTex designs and builds natural gas treating plants, and the purchase will give the petroleum pipelines operator greater exposure to the natural gas market. | Oct. 24, 2011, 2:10 PM