Kinder Morgan

  1. Carlyle Group
  2. Companies established in 1927
  3. Companies based in Houston, Texas
  4. Oil companies of the United States
  5. Natural gas companies of the United States
  6. Private equity portfolio companies


Kinder Morgan, Inc. (NYSE: KMI) is an American energy company. It is also, through a subsidiary, the general partner of and owner of many of the interests in Kinder Morgan Energy Partners, a publicly traded pipeline and terminal limited partnership.

Kinder Morgan Energy partners, L.P. is a leading pipeline transportation and energy storage company in North America. Kinder Morgan owns or operates approximately 26,000 miles of pipelines transporting primarily natural gas, crude oil, and petroleum products. Kinder Morgan also owns about 170 terminals that store and handle products such as gasoline, coal, and petroleum coke. Kinder Morgan is also the leading provider of carbon dioxide, commonly called CO2 for enhanced oil recovery projects in North America.

In addition to its role in the energy transportation and storage industry, Kinder Morgan operates in two major oil fields in Texas: the Yates Oil Field and the SACROC Unit. Kinder Morgan produces approximately 55,000 barrels per day between the two areas, and claims to be the second-largest oil producer in Texas.[1]

Assertions

Chairman and CEO Richard Kinder, selected by Morningstar as its 2005 CEO of the Year, receives a salary of $1.00 a year, no bonuses, no option grants and no restricted stock. Additionally Kinder Morgan claims that it does not spend money on corporate jets, first-class airfare, sports tickets or other expensive perks.[2]

Kinder Morgan asserts that it committed to public safety, protection of the environment and operation of its facilities in compliance with all applicable rules and regulations.[3]

Leveraged Buyout

On August 28, 2006 Kinder Morgan announced that it would be taken private in a management-led leveraged buyout totaling approximately $22 billion. Outside participants in the transaction include Fayez Sarofim, Goldman Sachs Capital Partners and Highstar Capital (then owned by American International Group).[4]

On September 8, 2010, a notice of a class action settlement was filed in the District Court of Shawnee County Kansas. The proposed settlement is to resolve claims of breach of fiduciary duty owed to Kinder Morgan shareholders by persons involved with the buyout. The settlement payment is to be $200,000,000.00. A hearing on the settlement is scheduled for November 12, 2010.

On November 23, 2010, Kinder Morgan filed for an initial public offering. On February 3, 2011 Kinder Morgan disclosed that it would raise $2.2 billion in its IPO, which is expected during the week of February 7th. [5]

Companies

  • Kinder Morgan Energy Partners, L.P., Houston, TX
  • Kinder Morgan CO2 Company, Houston, TX
  • Kinder Morgan Management, LLC, Houston, TX
  • Kinder Morgan, Inc., Houston, TX
  • Natural Gas Pipeline Company of America
  • Kinder Morgan Terminals, Houston, TX
  • Kinder Morgan Power Company, Lakewood, CO
  • Kinder Morgan Louisiana Pipeline LLC (KMLP), Crowley, LA

References

  1. ↑ Kinder Morgan CO2: description of CO2 and oil operations
  2. ↑ Company profile on KM web site
  3. ↑ Environmental, Health, and Safety Performance from company web site
  4. ↑ SEC Form 10-Q, March 31, 2009
  5. ↑ http://www.renaissancecapital.com/ipohome/news/Kinder-Morgan-reveals-terms-for-$2.2-billion-IPO-8996.html

External links

de:Kinder Morgan


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