Kinder Morgan on the rise after buying a natural gas collection system for $640 million – 01/13/2025 at 3:57 p.m.

((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))

Jan. 13 – ** Shares of gas pipeline operator Kinder Morgan KMI.N rise 1.2% to $28.51

** Company unit Hiland Partners buys natural gas gathering and processing system in North Dakota from Outrigger Energy II LLC for $640 million

**The acquisition includes a 270 million cubic feet per day (mmcf/d) processing facility and a 104-mile gathering pipeline with a capacity of 350 mmcf/d connecting supplies to the Williston Basin region to high-demand markets

**KMI expects the acquisition to be immediately profitable for its shareholders

**The company plans to reduce capital expenditures necessary to accommodate growth from its current customers in the Bakken region

**The transaction is expected to close during the first quarter of 25

**Stock up 53.8% in 2024