Kinder Morgan acquires Kaston Pipeline Co. for $100 million
By OGJ editors
HOUSTON, Sept. 3 -- Kinder Morgan Energy Partners LP, Houston, has purchased 100% of Kaston Pipeline Co. LP, an affiliate of Western Refining Co. LP, for $100 million. The acquisition involves a crude oil pipeline system in West Texas.
KMP utilizes carbon dioxide injection to enhance oil production from mature fields.
The acquisition provides the company with strategically located infrastructure that will benefit the company's growing CO2 business, a spokesman said.
The pipeline system and associated storage facilities will help manage crude deliveries from the Yates Field.