Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced it has
acquired the assets of Gas-Chill, Inc., a company that manufactures and
provides small mechanical refrigeration units (MRUs) for natural gas
liquids recovery. The approximately $13 million acquisition allows
Kinder Morgan Treating, a subsidiary of KMP, to quickly transport and
install MRUs that enable customers to remove natural gas liquids from
natural gas streams to meet pipeline hydrocarbon dew point
specifications. Kinder Morgan Treating is the industry leader and
largest provider of contract operated amine treating and hydrocarbon dew
point conditioning plants. This acquisition, which was effective Sept.
1, complements Kinder Morgan Treating’s existing fleet of JT plants.
Bill Stokes, vice president of Kinder Morgan Treating, said, “The
acquisition adds more than 100 MRUs located in 12 different states to
our fleet. We are very happy to be bringing on board the Gas-Chill
employees including trained service technicians that are available for
service requirements 24/7.” Gas-Chill will continue to be based in
Tyler, Texas.
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) is a leading pipeline
transportation and energy storage company in North America. KMP owns an
interest in or operates approximately 28,000 miles of pipelines and 180
terminals. Its pipelines transport natural gas, gasoline, crude oil, CO2
and other products, and its terminals store petroleum products and
chemicals and handle bulk materials like coal and petroleum coke. KMP is
also the leading provider of CO2 for enhanced oil recovery projects in
North America. One of the largest publicly traded pipeline limited
partnerships in America, KMP has an enterprise value of approximately
$30 billion. The general partner of KMP is owned by Kinder Morgan, Inc.,
a private company. For more information please visit www.kindermorgan.com
This news release includes forward-looking statements. Although
Kinder Morgan believes that its expectations are based on reasonable
assumptions, it can give no assurance that such assumptions will
materialize. Important factors that could cause actual results to differ
materially from those in the forward-looking statements herein are
enumerated in Kinder Morgan’s Forms 10-K and 10-Q as filed with the
Securities and Exchange Commission.
