Kinder Morgan Acquires Outrigger Energy’s Gas Gathering and Processing System in $640M Deal
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Kinder Morgan (KMI) said its subsidiary, Hiland Partners Holdings, has agreed to purchase a natural gas gathering and processing system in North Dakota from Outrigger Energy II for $640 million.
The acquisition includes a 270 million cubic feet per day (MMcf/d) processing facility and a 104-mile, large-diameter, high-pressure rich gas gathering header pipeline with 350 MMcf/d of capacity connecting supplies from the Williston Basin area to high-demand markets. The gathering and processing system is backed by long-term contracts with commitments from major customers in the basin.
“We’re pleased to be integrating this complementary system with our existing Hiland gas assets to aggregate additional supplies from the Bakken,” said KMI Natural Gas Midstream President Tom Dender.
“This strategic acquisition allows us to efficiently expand our footprint and provide incremental transportation and processing services to meet the growing needs of our customers,” added Dender.
The transaction requires clearance under Hart-Scott-Rodino and is expected to close in the first quarter of 2025.
Kinder Morgan is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. They are committed to providing energy transportation and storage services in a safe, efficient, and environmentally responsible manner for the benefit of the people, communities, and businesses they serve. They own an interest in or operate approximately 79,000 miles of pipelines, 139 terminals, 702 billion cubic feet of working natural gas storage capacity, and have renewable natural gas generation capacity of approximately 6.1 Bcf per year with an additional 0.8 Bcf in development. Their pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2, renewable fuels, and other products, and their terminals store and handle various commodities including gasoline, diesel fuel, jet fuel, chemicals, metals, petroleum coke and ethanol, and other renewable fuels and feedstocks.
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