facebook
twitter
rss
account
search
search
 

Kinder Morgan sells Rocky Mountain assets

June 1, 2006 at 10:10 AM   |   Comments

HOUSTON, June 1 (UPI) -- Momentum Energy Group LLC paid $43 million in cash to buy key Kinder Morgan Energy Partners LP assets in the Rocky Mountains.

The deal gets MEG the Powder River Gathering System and the Painter Unit fractionation facility in Wyoming, Kinder Morgan Inc. said Thursday. The parties also executed a long-term processing agreement at Kinder Morgan Energy Partners LP's Douglas processing plant.

Proceeds from the sale will be used to pay down debt. Kinder Morgan Inc.'s management, in partnership with private equity interests, recently announced a plan to take the company private.

© 2006 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
GM recalls 221,000 Cadillacs and Impalas GM recalls 221,000 Cadillacs and Impalas
2
New National Security Cutter delivered to Coast Guard New National Security Cutter delivered to Coast Guard
3
First MT30 engine for Korean Navy frigates passes acceptance tests First MT30 engine for Korean Navy frigates passes acceptance tests
4
Ukraine's State Guard Service receives armored personnel carriers Ukraine's State Guard Service receives armored personnel carriers
5
Navy's Triton surveillance drone flies cross-country Navy's Triton surveillance drone flies cross-country
Trending News
Video
x
Feedback