Kinder Morgan Energy Partners LP (KMEP) completed its acquisition of a 50% interest in a joint venture owning the Altamont gathering, processing, and treating assets in the Uinta basin in Utah and the Camino Real gathering system in the Eagle Ford shale in Texas from Kohlberg Kravis Roberts & Co. LP for $300 million in KMP units.
KMEP now owns 100% of the venture, 50% at KMEP and 50% at Kinder Morgan Inc. (KMI) The KMI portion was acquired as part of KMEP’s purchase of El Paso Corp. (OGJ Online, Apr. 26, 2012).
With more than 1,100 miles of pipeline, the Altamont system includes in excess of 450 well connections, and operates a 60 MMcfd processing plant and a 5,600 b/d NGL fractionator. The Camino Real gathering system has 150 MMcfd gas gathering capacity and 110,000 b/d oil gathering capacity.
Bill Barrett Corp. is one of many operators, including Anadarko Petroleum Corp. and Noble Energy Inc., with plans to expand activities in the Niobrara play, including the Uinta basin (OGJ Online, June 4, 2012). Operators also continue to increase their efforts in the Eagle Ford shale.
Contact Christopher E. Smith at [email protected].
