United States

Kinder Morgan Inc (KMI)

KMI on New York Consolidated

25 Oct 2016
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Latest Key Developments (Source: Significant Developments)

Valero acquires 100 percent ownership of Parkway Pipeline
Tuesday, 12 Jul 2016 04:43pm EDT 

Valero Energy Corp : Valero acquires 100 percent ownership of Parkway Pipeline . Valero funded acquisition with cash . Bought remaining 50 percent membership interest in Parkway Pipeline Llc from a wholly owned subsidiary of Kinder Morgan . Parkway pipeline separately executed a connection agreement with colonial pipeline co. . Parkway pipeline will construct, own, and operate a new lateral segment to connect pipeline to colonial pipeline system near Collins .Valero energy partners lp has a right of first offer to acquire valero's initial 50 percent interest in parkway pipeline.  Full Article

Southern Co, Kinder Morgan enter Southern Natural Gas pipeline strategic venture
Sunday, 10 Jul 2016 10:57pm EDT 

Southern Co : Southern company, kinder morgan enter southern natural gas pipeline strategic venture . Acquiring 50 percent equity interest in southern natural gas (sng) pipeline systemkinder morgan will continue to operate system . Transaction equates to sng total enterprise value of about $4.15 billion, implies $1.47 billion for southern co's 50 percent equity interest .Expects to finance initial purchase, as well as any related future growth opportunities in a credit-supportive manner.  Full Article

Kinder Morgan Terminals signs 10-year agreement with Nucor Corporation
Wednesday, 6 Jul 2016 09:05am EDT 

Kinder Morgan Terminals Signs 10 : Year agreement with Nucor Corporation . Says value of agreement is approximately $900 million .Says agreement with nucor corporation to provide in-plant services for five of Nucor's facilities.  Full Article

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) ((julie.gordon@reuters.com;)).  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 (http://bit.ly/1Wv9faS) 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 to begin construction on Elba Liquefaction project November 1

HOUSTON Kinder Morgan will begin construction on its Elba Liquefaction project near Savannah, Georgia, on Nov. 1, ahead of a final ruling from federal regulators on rehearing requested by environmental activists, the company said on Wednesday.