Harold Hamm sells Hiland Partners to Kinder Morgan for $3 billion.
Kinder Morgan Inc. announced Wednesday it has struck a deal to buy the company, which is owned by Continental Resources Inc. CEO Harold Hamm and some family trusts. It also will assume the Enid company’s debt.
Hiland had been a publicly traded company until Hamm bought all outstanding units in 2009. It owns oil and natural gas gathering, transportation and processing pipelines in the Bakken Shale in North Dakota and Montana.
Kinder Morgan said the Hiland deal gives it a premier midstream platform in the Bakken, with a significant amount of acreage dedicated under long-term gathering agreements with companies such as Continental, XTO Energy Inc. and Whiting Petroleum Corp.Some readers have followed the Harold Hamm story from the beginning: a good ol' boy who started life as a trucker hauling water out of the oil fields.
Some readers have followed the Harold Hamm story from the beginning: a good ol' boy who started life as a trucker hauling water out of the oil fields.
Some would say he built these businesses: CLR and Hiland Partners.
And then there are others who would say he didn't.
(In hindsight, I am surprised by all the folks in the mainstream media that had to come out to "defend" the previous president. Thank God and Greyhound there are term limits.)