Kinder Morgan Energy Partners LP, Houston, (NYSE: KMP) plans to purchase 50% interest in the joint venture that owns the Altamont gathering, processing and treating assets in the Uinta Basin in Utah and the Camino Real gathering system in the Eagle Ford shale in Texas from New York-based private-equity firm Kohlberg Kravis Roberts & Co. LP (NYSE: KKR) for $300 million.

With more than 1,100 miles of pipeline infrastructure, the Altamont system includes more than 450 well connections with producers, and it operates a processing plant with the design capacity ...