Locator: 48410PIPELINES.
"Outrigger" has been mentioned on the blog several times. One can do a "word search" regarding "Outrigger."
Pipelines are tracked here.
From January 14, 2025, an RBN Energy blog:
Energy deal in the Bakken announced: link here.
Kinder Morgan Inc (KMI) / Hiland Partners Holdings LLC to acquire Outrigger Energy II LLC in North Dakota; $640 million. Outrigger has been mentioned numerous times on the blog. Includes a natural gas processing plant near Williston.
Tonight, a reader -- thank you very much, it's been a long time since I've heard from you -- updates this story. From the reader:
Kinder Morgan, Inc. has announced that its subsidiary, Hiland Partners Holdings LLC, closed on its previously announced US$640 million acquisition of a natural gas gathering and processing system in North Dakota from Outrigger Energy II LLC.
The acquisition includes a 270 million ft3/d processing facility and a 104 mile, large-diameter, high-pressure rich gas gathering header pipeline with 350 million ft3/d of capacity connecting supplies from the Williston Basin area to high-demand markets. The gathering and processing system is backed by long-term contracts with commitments from major customers in the basin.
“We are pleased to have completed this strategic acquisition and to start integrating these assets with our existing Hiland gas footprint,” said KMI Natural Gas Midstream President Tom Dender. “This acquisition expands our transportation and processing services, allowing us to meet the growing needs of our customers.”
KMI expects the acquisition to be immediately accretive to its shareholders, with a 2025 Adjusted EBITDA multiple of approximately 8 times on a full-year basis.
Adjusted EBITDA does not include approximately US$20 million of expected cash payments in 2025 that receive deferred revenue recognition.
With this transaction, KMI expects to reduce future capital expenditures needed to accommodate the growth of its existing Bakken customers.
The reader provided this link: https://www.worldpipelines.com/business-news/20022025/kinder-morgan-closes-on-us640-million-acquisition-of-a-natural-gas-gathering-and-processing-system-from-outrigger-energy-ii/.
If need I'll clean up this post over the weekend, but wanted to get this out ASAP.
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