Acquisitions & Divestitures - Midstream
Richard Kinder’s personal stake of 243.1 million shares in KMI makes him the largest individual investor in the Houston-based energy infrastructure company, Bloomberg said.
Rice would control the partnership that would initially own gas gathering and water distribution lines in Pennsylvania, Bloomberg said.
According to Bloomberg, CEO Greg Armstrong said Plains All American Pipeline has 'all the same assets in place' to export condensate as Pioneer Natural Resources and Enterprise Product Partners.
The quarter ended June 30, the company added.
Assets were acquired from an affiliate of DCP Midstream LLC through a purchase and sale agreement, American Midstream said.
The dropdown is the partnership's first acquisition since its initial public offering IPO in August 2013.
The company has borrowed $2 billion for its purchase of GeoSouthern’s Eagle Ford assets.
Common units of PNG will be delisted and, as of the opening of the stock market on Jan. 2, will no longer be publicly traded.
‘We’re repositioning people; we’re repositioning plays and other resources.’
Growing Williston Basin production is seeking additional end markets in anticipation of a flattening of WTI/Brent price dynamics on the Gulf coast.
Combined with the $2.6 billion of proceeds generated to date in 2012 from asset sales, these latest deals will bring Chesapeake’s asset sales for the year up to approximately $6.6 billion.
With more than 1,100 miles of pipeline infrastructure, the Altamont system includes more than 450 well connections with producers.