Kinder Morgan Inc (KMI) Key Developments |
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Kinder Morgan Inc (KMI)

KMI on New York Consolidated

28 Jun 2016
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Latest Key Developments (Source: Significant Developments)

Kinder Morgan sells 50 pct stake in in Utopia pipeline project to Riverstone Investment Group
Tuesday, 28 Jun 2016 09:03am EDT 

Kinder Morgan Inc : Kinder Morgan sells 50 pct equity interest in Utopia pipeline project to Riverstone Investment Group . Says total project cost is estimated to be approximately $500 million . Riverstone Investment Group LLC will become a 50 percent partner in Utopia Pipeline Project . Riverstone to fund its share of future capital expenditures necessary to complete construction. Commissioning of pipeline project . Riverstone agreed to an upfront cash payment provided at closing . Riverstone's upfront cash payment consists of reimbursement to KMI for 50 percent share of prior capital expenditures related to project .Riverstone's upfront cash payment also consists of a payment in excess of capital expenditures.  Full Article

Kinder Morgan projects receive FERC authorizations
Thursday, 2 Jun 2016 09:23am EDT 

Kinder Morgan Inc : Kinder Morgan Inc says about $2 billion project will be constructed and operated at existing Elba Island LNG terminal near Savannah, Georgia . Kinder Morgan projects receive FERC authorizations .Kinder Morgan Inc says facilities for these pipeline projects are expected to be placed in service late in Q4 of 2016.  Full Article

Canada regulator supports Kinder Morgan oil pipeline expansion
Thursday, 19 May 2016 04:22pm EDT 

Kinder Morgan Inc : Canada energy regulator says Trans Mountain expansion project's "considerable benefits" outweigh the "residual burdens" . National Energy Board says it found project not likely to cause significant adverse environmental effects . Canada's NEB says benefits include more access to diverse markets for canadian oil, thousands of jobs (Reporting by Julie Gordon) ((;)).  Full Article

Appaloosa LP cuts share stake in GM, Dissolves in United Continental Holdings
Friday, 13 May 2016 05:07pm EDT 

Appaloosa LP : Appaloosa lp cuts share stake in general motors co by 81.0 percent to 2.4 million shares . Appaloosa lp dissolves share stake in united continental holdings inc . Appaloosa lp ups share stake in allergan plc by 86.1 percent to 279,109 shares . Appaloosa lp cuts share stake in kinder morgan inc del by 52.4 percent to 4.5 million shares .Change in holdings are as of march 31, 2016 and compared with the previous quarter ended as of december 31, 2015.  Full Article

Kinder Morgan says stockholders did not approve climate change proposal
Friday, 13 May 2016 03:40pm EDT 

Kinder Morgan Inc : Kmi stockholders did not approve stockholder proposal relating to a report on kmi's response to climate change . Stockholders did not approve stockholder proposal relating to a report on methane emissions - sec filing Source ( Further company coverage: [KMI.N] ((Bengaluru Newsroom; +1 646 223 8780;)).  Full Article

Natural Gas Pipeline Co of America says seeking solicitations of interest for Chicago market expansion project,gulf coast southbound expansion project
Tuesday, 10 May 2016 12:10pm EDT 

Natural Gas Pipeline Co Of America: Seeking solicitations of interest for chicago market expansion project,gulf coast southbound expansion project .NGPL is seeking customer interest in additional expansion capacity following success of phase 1 of projects.  Full Article

Kinder Morgan Inc - Investor gets $450,000 fee for leading Kinder Morgan lawsuit - Reuters
Thursday, 4 Feb 2016 05:31pm EST 

Kinder Morgan Inc:A former investment banker landed a so-called incentive fee of $450,000, one of the largest of its kind, for pursuing a securities lawsuit that led to $100 million in damages against Kinder Morgan Inc - RTRS.Peter Brinckerhoff of Florida was awarded the fee for putting in more than 1,500 hours on the case, which resulted in one of the largest damage awards in the history of Delaware's Court of Chancery, which heard the case.The lawsuit benefited other investors who did not actively participate in the litigation."I don't know if it's the largest ever, but it's remarkably large for a securities case," said Geoffrey Miller, a professor at New York University Law School who has researched incentive awards.Several plaintiffs and defense attorneys who specialize in securities class action cases said it was the largest incentive award they had seen. Brinckerhoff brought the suit in 2010 to challenge a deal by El Paso Pipeline Partners, a publicly traded master limited partnership.Vice Chancellor Travis Laster of the Court of Chancery ruled last year that the MLP overpaid when it acquired pipeline assets from its controlling parent, El Paso Corp. The judge ordered the overpayment returned to El Paso Pipeline's investors.Brinckerhoff had sought $1.35 million, a figure his lawyers conceded in court papers was "unusual," to compensate him for spending five years working on the case.  Full Article

Kinder Morgan Inc announces term loan and revolver expansion
Tuesday, 26 Jan 2016 04:30pm EST 

Kinder Morgan Inc:Says closed on a three-year, unsecured $1 billion term loan.Says increasing the capacity of facility from $4 billion to $5 billion.In light of robust, positive projected free cash flow in 2016, the company's financial outlook remains exceptionally strong".Announced $1 billion expansion of unsecured revolving credit facility.Proceeds from the term loan will be used for general corporate purposes, including the repayment of existing borrowings.  Full Article

British Columbia to oppose Kinder Morgan Inc's pipeline expansion-Vancouver Sun - Reuters
Monday, 11 Jan 2016 11:09am EST 

Kinder Morgan Inc:The British Columbia government will formally oppose expansion of the Trans Mountain pipeline by Kinder Morgan Inc in a written submission to the National Energy Board, the Vancouver Sun reported, citing the province's environment minister. - RTRS.The government believes that Kinder Morgan has failed to provide the National Energy Board with an adequate plan to prevent or respond to an oil spill, the report said, citing Environment Minister Mary Polak - RTRS."We are asking them not to recommend approval," the report said, citing Polak. - RTRS.The U.S. pipeline currently ships 300,000 barrels per day (bpd) of crude from Edmonton, Alberta, to Burnaby, British Columbia. The proposed expansion will nearly treble capacity to 890,000 barrels per day, providing more access to Asian markets. - RTRS.The National Energy Board, Kinder Morgan and Mary Polak's office did not immediately respond to requests for comment. - RTRS.The government will give the submission to the National Energy Board on Monday, the report said. - RTRS.Kinder Morgan had filed final written argument for the Trans Mountain pipeline expansion project with Canadian regulators in December - RTRS.  Full Article

Kinder Morgan Inc - Canada to give aboriginals more say on resource projects- minister - Reuters
Monday, 7 Dec 2015 02:27pm EST 

Kinder Morgan Inc:Canada will give aboriginal groups more say in discussions over natural resource projects located on their territory, which should help pave the way for major pipelines and mines, the country's new energy minister said on Monday - RTRS.The Liberal government, which took power last month, had pledged to toughen environmental assessments that critics said had been weakened under the former Conservative government. - RTRS.Asked whether the new assessment process meant aboriginal interests could block development of a pipeline, Natural Resources Minister Jim Carr declined to give a direct response - RTRS."We will consult leaders, we will consult communities, we will seek consensus," he said in an interview - RTRS.The approval of at least two proposed pipelines, TransCanada Corp's Energy East and the expansion of Kinder Morgan Inc's Trans Mountain Pipeline, has been bogged down by protests, with aboriginal groups saying they have been marginalized by current rules for assessing projects - RTRS.  Full Article

Kinder Morgan sells 50 percent stake in Ohio pipeline to Riverstone

Kinder Morgan Inc said it had agreed to sell half its stake in an Ohio pipeline project to private equity firm Riverstone Investment Group LLC for an undisclosed amount.