Jan 16 Kinder Morgan Energy Partners,
which operates oil and gas pipelines and terminals, said on
Wednesday it raised its cash distribution 11 percent in the
fourth quarter, helped by higher volumes in most of its
Kinder Morgan, the largest so-called midstream company in
North America, was created when it finalized its purchase of El
Paso Corp last year in a deal valued around $38 billion.
The company has benefited from the boom in oil and gas
exploration surrounding shale formations in North America
because many of those basins had little or no infrastructure.
The Houston company raised its quarterly cash distribution
to $1.29 per unit, up from $1.16 a year earlier.
Kinder Morgan Energy Partners is a master limited
partnership (MLP), a tax efficient structure that distributes
most of its cash flows to investors. Kinder Morgan Inc
owns the general partnership interest in Kinder Morgan Partners.
"We currently have identified approximately $11 billion in
expansion and joint venture investments at KMP that we have, or
are confident that we will soon have, under contract and we are
pursuing customer commitments for many more projects," Chief
Executive Officer Richard Kinder said in a statement.
This year alone, Kinder Morgan Partners said it expects to
invest nearly $3 billion in expansion and acquisitions, it said.