Kinder Morgan Sells 50% Equity Interest in Utopia Pipeline Project to Riverstone Investment Group

Source: Business Wire

 

HOUSTON--(BUSINESS WIRE)--Kinder Morgan, Inc. (NYSE: KMI) announced today that Riverstone Investment Group LLC (Riverstone) will become a 50 percent partner in the Utopia Pipeline Project. To acquire its ownership interest, Riverstone agreed to an upfront cash payment provided at closing, consisting of reimbursement to KMI for its 50 percent share of prior capital expenditures related to the project and a payment in excess of capital expenditures to recognize the value created by KMI in developing the project to this stage.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Latest Energy Jobs

View more Job Listings >>