Copano Energy, L.L.C. (NASDAQ: CPNO) announced today that, at a
specialmeeting of unitholders held earlier today, its unitholders voted
to adopt the merger agreement, entered into on January 29,2013, among
Copano, Kinder Morgan Energy Partners, L.P. (NYSE: KMP), Kinder Morgan
G.P., Inc. and Javelina Merger Sub LLC, a wholly-owned subsidiary of
Kinder Morgan Energy Partners, L.P., pursuant to which Copano will
become a wholly-owned subsidiary of Kinder Morgan.
Based on the results, more than 99 percent of the units voted at the
special meeting voted in favor of adoption of the mergeragreement. The
votes in favor of the merger agreement constituted more than a majority
of Copano's units outstanding as of the record date, as required for
adoption of the merger agreement.
As previously announced on January 29, in accordance with the merger
agreement, Kinder Morgan agreed to acquire all of Copano's outstanding
units in a 100 percent unit-for-unit transaction with an exchange ratio
of .4563 KMP units per CPNO unit. Subject to satisfaction or waiver of
previously-disclosed closing conditions, the companies expect to close
in early May.
About Copano Energy, L.L.C.
Copano Energy, L.L.C. is a midstream natural gas company with operations
in Texas, Oklahoma and Wyoming. For more information, please visit http://www.copano.com.
This news release includes "forward-looking statements," as defined
by the Securities and Exchange Commission. Statements that address
activities or events that Copano believes will or may occur in the
future are forward-looking statements. These statements include, but are
not limited to, statements about future producer activity and Copano's
total distributable cash flowand distribution coverage. These statements
are based on management's experience and perception of historical
trends, current conditions, expected future developments and other
factors management believes are reasonable. Important factors that
could cause actual results to differ materially from those in
forward-looking statements include the following risks and
uncertainties, many of which are beyond Copano's control: the volatility
of prices and market demand for natural gas, crude oil, condensate and
NGLs, and for products derived from these commodities; Copano's ability
to continue to connect new sources of natural gas, crude oil and
condensate, and the NGL content of new gas supplies; the ability of key
producers to continue to drill and successfully complete and connect new
natural gas and condensate volumes and such producers' performance under
their contracts with Copano; Copano's ability to attract and retain
key customers and contract with new customers, and such customers'
performance under their contracts with Copano; Copano's ability to
access or construct new pipeline capacity, gas processing and NGL
fractionation and transportation capacity; the availability of local,
intrastate and interstate transportation systems, trucks and
other facilities and services for condensate, natural gas and NGLs;
Copano's ability (and the ability of its third-party service
providers) to meet in-service dates, cost expectations and operating
performance standards for construction projects; Copano's ability
to successfully integrate any acquired asset or operations; Copano's
ability to access its revolving credit facility and to obtain
additional financing on acceptable terms; the effectiveness of Copano's
hedging program; general economic conditions; force majeure
events such as the loss of a market or facility downtime; the effects of
government regulations and policies; Copano's ability to complete
its proposed merger with Kinder Morgan; and other financial, operational
and legal risks and uncertainties detailed from time to time in
Copano's quarterly and annual reports filed with the Securities and
Exchange Commission. Copano does not undertake to update any
forward-looking statement except as provided by law.
