Kinder Morgan Inc Del - KMI STOCK NEWS

Kinder Morgan (NYSE: KMI) has completed its previously announced $640 million acquisition of a natural gas gathering and processing system in North Dakota from Outrigger Energy II The acquired assets include a 270 MMcf/d processing facility and a 104-mile high-pressure rich gas gathering pipeline with 350 MMcf/d capacity, connecting Williston Basin supplies to high-demand markets.

The system is supported by long-term contracts with major basin customers. KMI expects the acquisition to be immediately accretive to shareholders, with a 2025 Adjusted EBITDA multiple of approximately 8 times on a full-year basis, not including about $20 million of expected cash payments in 2025 that receive deferred revenue recognition. The acquisition will reduce future capital expenditures needed for existing Bakken customer growth and complements KMI's existing Hiland gas assets.

Entergy Texas has announced a significant transportation agreement with Kinder Morgan and Golden Pass LNG as part of Kinder Morgan's $1.7 billion Trident Intrastate Pipeline project. The 216-mile pipeline will transport natural gas from the Permian Basin to the LNG and industrial corridor near Port Arthur, Texas.

The project, expected to be operational in early 2027, will transport approximately 1.5 billion cubic feet of natural gas daily, with potential expansion to 2.8 billion cubic feet. Key benefits include lower customer costs through access to competitive markets at the Katy hub, reliable energy supply for proposed Legend and Lone Star Power Stations, enhanced operational flexibility including the Spindletop underground storage caverns, and support for regional economic development.

ArcLight Capital Partners has completed the acquisition of a 25% equity interest in Gulf Coast Express Pipeline (GCX) from Phillips 66 for $865 million. GCX will now be jointly owned by Kinder Morgan (NYSE: KMI) and ArcLight affiliates, with KMI continuing operations.

GCX is a 500-mile natural gas pipeline with approximately 2 Bcf/d capacity, supported by long-term committed contracts. The pipeline provides critical gas takeaway service from the Permian Basin to US Gulf Coast markets, including LNG export facilities in South Texas.

ArcLight, which has managed over 47,000 miles of electric and gas transmission since 2001, views this acquisition as strategic positioning for growing power demand needs, particularly related to AI and data center infrastructure. The company sees GCX as well-positioned to benefit from increasing Permian production and long-term LNG, power, and industrial demand growth.

Kinder Morgan (KMI) reported strong Q4 2024 financial results with EPS of $0.30, up 11%, and Adjusted EPS of $0.32, up 14% compared to Q4 2023. Net income reached $667 million, with Adjusted EBITDA of $2,063 million, up 7% year-over-year.

The company announced the $1.7 billion Trident Intrastate Pipeline Project, a 216-mile pipeline providing 1.5 Bcf/d capacity from Katy to Port Arthur, Texas. The project backlog increased to $8.1 billion, up nearly 60% from Q3 2024.

For 2025, KMI forecasts net income of $2.8 billion (up 8%), Adjusted EPS of $1.27 (up 10%), and Adjusted EBITDA of $8.3 billion (up 4%). The company approved a Q4 dividend of $0.2875 per share, representing a 2% increase over Q4 2023.

Kinder Morgan (NYSE: KMI) has announced its upcoming fourth quarter 2024 earnings release and webcast schedule. The company will release its Q4 2024 earnings results on Wednesday, January 22, 2025, after market close.

The earnings webcast and conference call will be held at 3:30 p.m. CT (4:30 p.m. ET) on the same day. Investors can access the live webcast through the company's investor relations website or join via phone in listen-only mode. For those unable to attend live, the call recording will be archived on kindermorgan.com and available for replay until February 23, 2025.

Flyscan Systems announced that Kinder Morgan (NYSE: KMI) has joined its strategic investor group, which includes Marathon Petroleum, Enbridge, and Hatch. The investment will support Flyscan's growth and accelerate its entry into the Natural Gas detection and quantification market.

Flyscan, founded in 2015 as a spin-off from Canada's National Optics Institute, is pioneering technology for pipeline leak detection and right-of-way damage prevention. The company utilizes remote sensing and artificial intelligence to detect liquid hydrocarbons and automate visual inspection from regulatory patrol planes.

KMI's COO James Holland emphasized the state-of-the-art nature of Flyscan's technologies and their importance in protecting employees, the environment, and communities. The partnership aims to leverage KMI's strategic footprint across multiple fuel types and extensive presence in the US market.

Kinder Morgan (NYSE: KMI) has announced its subsidiary, Hiland Partners Holdings , will acquire a natural gas gathering and processing system in North Dakota from Outrigger Energy II for $640 million. The acquisition includes a 270 MMcf/d processing facility and a 104-mile, high-pressure rich gas gathering header pipeline with 350 MMcf/d capacity in the Williston Basin area.

The system is supported by long-term contracts with major basin customers. KMI expects the acquisition to be immediately accretive to shareholders, with a 2025 Adjusted EBITDA multiple of approximately 8 times. The deal includes approximately $20 million of expected cash payments in 2025 that receive deferred revenue recognition. The transaction is expected to close in Q1 2025, pending Hart-Scott-Rodino clearance.

Tennessee Gas Pipeline (TGP), a Kinder Morgan (NYSE: KMI) subsidiary, has announced its final investment decision on the Mississippi Crossing Project (MSX). The $1.4 billion project will transport up to 1.5 Bcf/d of natural gas through approximately 206 miles of pipeline and two new compressor stations, connecting Greenville, Mississippi to Butler, Alabama.

The project has secured long-term, binding transportation agreements for all capacity, with discussions ongoing for an additional 0.4 Bcf/d. Expected to be operational by November 2028, the MSX Project will provide the Southeast region with increased access to diverse gas supplies, supporting growing energy demand and potentially lowering energy costs.

This project represents part of KMI's $3.1 billion expansion capital investment, alongside the SNG South System 4 Expansion.

Phillips 66 (NYSE: PSX) has agreed to sell its 25% non-operated equity interest in Gulf Coast Express Pipeline to an ArcLight Capital Partners affiliate for $865 million in pre-tax cash proceeds. This sale exceeds Phillips 66's $3 billion asset divestiture target. The Gulf Coast Express Pipeline is a 500-mile system transporting approximately 2 billion cubic feet of natural gas daily from the Permian Basin to Agua Dulce, Texas. The transaction, valued at 10.6x expected 2025 EBITDA, is set to close in January 2025. Proceeds will support shareholder returns and debt reduction. Post-sale, the pipeline will be jointly owned by Kinder Morgan and ArcLight Capital Partners affiliates.