Key Developments: Kinder Morgan Energy Partners LP (KMP)

KMP on New York Consolidated

77.49USD
17 Apr 2014
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$-0.83 (-1.06%)
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$78.32
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Latest Key Developments (Source: Significant Developments)

Kinder Morgan Energy Partners LP Increases Quarterly Distribution
Wednesday, 16 Jan 2013 04:06pm EST 

Kinder Morgan Energy Partners LP announced that it has increased its quarterly cash distribution per common unit to $1.29 ($5.16 annualized) payable on Feb. 14, 2013, to unitholders of record as of Jan. 31, 2013. This represents an 11 % increase over the fourth quarter 2011 cash distribution per unit of $1.16 ($4.64 annualized) and is up from $1.26 per unit ($5.04 annualized) for the third quarter of 2012. KMP has increased the distribution 46 times since current management took over in February 1997.  Full Article

Kinder Morgan Energy Partners LP Announces Exercise of Underwriters' Option to Purchase Additional Units
Monday, 17 Dec 2012 05:39pm EST 

Kinder Morgan Energy Partners LP announced that the underwriter of its recently completed public offering of 3,900,000 common units has exercised in full its option to purchase an additional 585,000 common units. Barclays acted as the underwriter of the offering. The public offering price for the additional common units is $78.60 per unit, the same price at which the 3,900,000 common units were sold. Both the 3,900,000 common unit offering and the additional 585,000 common unit offering closed on December 14, 2012. Total net proceeds from the sale of the 4,485,000 common units are approximately $348 million. KMP intends to use the proceeds from this offering to repay commercial paper debt.  Full Article

Tallgrass Energy Partners, LP Closes Purchase of Midstream Assets from Kinder Morgan Energy Partners LP
Tuesday, 13 Nov 2012 11:51am EST 

Kinder Morgan Energy Partners LP announced that Tallgrass Energy Partners, LP has closed the previously announced transaction with the Company to buy Kinder Morgan Interstate Gas Transmission (KMIGT), Trailblazer Pipeline Company, the Casper-Douglas natural gas processing and West Frenchie Draw treating facilities in Wyoming, and KMP`s 50% interest in the Rockies Express Pipeline (REX). Tallgrass acquired these assets for a total cash consideration of approximately $1.8 billion. Including the proportionate amount of REX debt, the purchase price is equivalent to a value of $3.3 billion. Tallgrass is owned by the management team of Tallgrass, Kelso & Company, and a limited group of investors led by The Energy & Minerals Group including Magnetar Capital.  Full Article

Kinder Morgan Energy Partners LP Increases Quarterly Distribution to $1.26 Per Unit
Wednesday, 17 Oct 2012 04:06pm EDT 

Kinder Morgan Energy Partners LP announced that it increased its quarterly cash distribution per common unit to $1.26 ($5.04 annualized) payable on Nov. 14, 2012, to unitholders of record as of Oct. 31, 2012. This represents a 9% increase over the third quarter 2011 cash distribution per unit of $1.16 ($4.64 annualized) and is up from $1.23 per unit ($4.92 annualized) for the second quarter of 2012.  Full Article

Kinder Morgan Energy Partners Starts Construction on Parkway Pipeline Partnering With Valero Energy Corp - Reuters
Tuesday, 21 Aug 2012 08:00pm EDT 

Reuters reported that Kinder Morgan Energy Partners began construction of the Parkway Pipeline, increasing the amount of gasoline, jet and diesel carried from Louisiana refineries to the oil hub of Collins, Mississippi. The 136-mile, 16 inch pipeline will begin in Norco, Louisiana and carry 110,000 bpd initially, with the ability to expand to over 200,000 bpd. Kinder Morgan is partnering with Valero Energy Corp to build the pipeline, which is expected to be in service by mid-year 2013.  Full Article

Tallgrass Energy Partners, LP To Acquire Midstream Assets From Kinder Morgan Energy Partners LP
Monday, 20 Aug 2012 08:35am EDT 

Tallgrass Energy Partners, LP announced that it has entered into a purchase and sale agreement with Kinder Morgan Energy Partners, L.P. to buy Kinder Morgan Interstate Gas Transmission (KMIGT), Trailblazer Pipeline Company, the Casper-Douglas natural gas processing and West Frenchie Draw treating facilities in Wyoming, and KMP's 50% interest in the Rockies Express Pipeline (REX). Tallgrass will acquire these assets for a total cash consideration of approximately $1.8 billion. Including the proportionate amount of REX debt, this amount is equivalent to a value of $3.3 billion. The transaction is expected to close in the fourth quarter. Tallgrass is owned by the management team of Tallgrass, Kelso & Company, and a limited group of investors led by The Energy & Minerals Group including Magnetar Capital.  Full Article

Kinder Morgan Energy Partners LP Completes Acquisition of 100% of Tennessee Gas Pipeline and 50% of El Paso Natural Gas Pipeline
Monday, 13 Aug 2012 04:35pm EDT 

Kinder Morgan Energy Partners LP announced it has completed its previously announced acquisition of 100% of Tennessee Gas Pipeline (TGP) and a 50% interest in El Paso Natural Gas (EPNG) pipeline from Kinder Morgan, Inc. The approximately $6.22 billion transaction allows KMP to more than replace cash flow from certain assets it is divesting pursuant to an agreement KMI reached with the Federal Trade Commission in order to complete the El Paso Corporation acquisition.  Full Article

Kinder Morgan Energy Partners To Purchase 100% Of Tennessee Gas Pipeline And 50% Of El Paso Natural Gas Pipeline For Approximately $6.22 Billion
Monday, 6 Aug 2012 04:03pm EDT 

Kinder Morgan Energy Partners announced that it will acquire 100% of Tennessee Gas Pipeline (TGP) and a 50% interest in El Paso Natural Gas (EPNG) pipeline from Kinder Morgan, Inc. for approximately $6.22 billion, including about $1.8 billion in assumed debt at TGP and approximately $560 million of proportional debt at EPNG. The transaction, which is expected to close this month and be effective August 1, was approved by the independent members of the boards of directors of both KMI and Kinder Morgan Management, LLC following the receipt by each board of separate fairness opinions from different investment banks. The Company previously announced that KMI would offer to sell (drop down) these assets to KMP to more than replace cash flow from certain assets KMP is divesting pursuant to an agreement KMI reached with the Federal Trade Commission in order to complete the El Paso Corporation acquisition. KMP expects to complete the divestiture process during the third quarter of 2012.  Full Article

Kinder Morgan Energy Partners And BP North America Enter Into Long-Term Agreements
Thursday, 19 Jul 2012 09:15am EDT 

Kinder Morgan Energy Partners and BP North America announced the execution of long-term commercial agreements to provide BP condensate processing services and storage at Kinder Morgan’s terminals located on the Houston Ship Channel. BP has committed over 40,000 barrels per day (bpd) of throughput at Kinder Morgan’s petroleum condensate facility which will split condensate into various components such as light and heavy naphthas, kerosene and gas oil. The approximately $200 million facility has been designed to provide future processing expansions up to 100,000 bpd throughput. BP also will lease an additional 750,000 barrels of storage that Kinder Morgan will add at its Galena Park terminal. The expansion is part of Kinder Morgan’s approximately $75 million investment to construct five tanks that will connect to its condensate facility with new piping, manifolds and pumps. The Company expects the new storage tanks and condensate facility to be in service in the first quarter of 2014.  Full Article

Kinder Morgan Energy Partners Increases Quarterly Distribution to $1.23 Per Unit
Wednesday, 18 Jul 2012 04:06pm EDT 

Kinder Morgan Energy Partners increased its quarterly cash distribution per common unit to $1.23 ($4.92 annualized) payable on Aug. 14, 2012, to unitholders of record as of July 31, 2012. This represents a 7% increase over the second quarter 2011 cash distribution per unit of $1.15 ($4.60 annualized) and is up from $1.20 per unit ($4.80 annualized) for the first quarter of 2012.  Full Article

Investor risk rises as energy partnership world gets crowded

HOUSTON/NEW YORK - High-yielding energy partnerships have lured billions in capital from investors in the past few years and the returns have often matched or beaten expectations.

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