Kinder Morgan to acquire midstream assets

By OGJ editors

Kinder Morgan Energy Partners LP (KMEP) has signed a definitive agreement to acquire Kohlberg Kravis Roberts & Co. LP’s 50% interest in a joint venture that owns midstream assets in Utah and Texas.

The consideration is $300 million in KMEP common units.

The acquisition includes the Altamont natural gas gathering, processing, and treating assets in the Unita basin in Utah and the Camino Real Gathering System in the Eagle Ford shale play of Texas.

El Paso Corp., which Kinder Morgan Inc. is acquiring in a $38 billion deal, owns the other 50% of the joint venture (OGJ Online, Oct. 17, 2011).

The Altamont system includes 1,100 miles of gas gathering pipeline with more than 450 well connections, a gas processing plant with design capacity of 60 MMcfd, and a 5,600-b/d fractionator. The Camino Real Gathering System has capacities of 150 MMcfd of gas and 110,000 b/d of oil.

KKR bought its interest in the assets from El Paso Midstream Group Inc. in 2010 (OGJ Online, Dec. 7, 2010).

Related Articles

NGSA asks Congress to pass bills facilitating LNG exports

03/27/2014 The Natural Gas Supply Association called on Congress to support legislation that would facilitate more LNG exports. “Exporting LNG overseas will h...

IHS: Western sanctions indirectly could hinder Russian oil, gas revenues

03/27/2014 Western sanctions imposed against Russian government officials and business executives regarding Russia’s conflict with Ukraine could slow the avai...

US, European energy leaders to discuss gas diversification measures

03/27/2014 Top US government energy officials and their counterparts from other G7 nations will meet early next week to discuss reducing Europe’s heavy relian...

EIA: Cushing inventories down 32% over the last 2 months

03/27/2014 According to the US Energy Information Administration, crude oil inventories at Cushing, Okla., the primary crude oil storage location in the US, d...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected