Kinder Morgan Inc. (KMI) on Wednesday completed its $76 billion acquisition of the outstanding equity securities of Kinder Morgan Energy Partners LP, Kinder Morgan Management LLC and El Paso Pipeline Partners LP, announced in August (see Daily GPI, Nov. 25; Aug. 11). "We believe merging the companies benefits our shareholders and unitholders, simplifies the Kinder Morgan story by transitioning to one security and paves the way for superior growth at KMI for years to come," said CEO Richard Kinder. KMI is projecting a dividend of $2.00/share for 2015, a 16% increase from the 2014 dividend of $1.72/share, and expects to increase it by about 10% every year through 2020 “while producing excess coverage of over $2 billion."
CorEnergy Infrastructure Trust Inc. has acquired MoGas Pipeline for $125 million. The 263-mile MoGas interstate gas pipeline originates in northeast Missouri and extends into western Illinois and central Missouri. Receipt points are with Mississippi River Transmission Corp. in eastern St. Louis, and Panhandle Eastern Pipe Line Co. and Rockies Express Pipeline on the northern end of the system. Primary customers are Laclede Gas Co. and Ameren Missouri, both serving the St. Louis metropolitan area with gas distribution services; and subsidiary Omega Pipeline, serving Ft. Leonard Wood in central Missouri. MoGas was created in 2008 by combining Missouri Interstate Gas LLC, Missouri Gas Co. LLC and Missouri Pipeline Co. LLC. CorEnergy also amended its revolving credit facility for up to $93 million.