Kinder Morgan Inc. moved back to the positive side of the ledger during the third quarter, but management for the midstream giant remains keenly aware of the lingering uncertainties facing the oil and gas industry.

Kinder Morgan Inc.

“We’re not on the other side of the downturn of the U.S. energy industry,” CEO Steven Keen said Wednesday during the quarterly conference call. “We’re not on the other side of the virus. I think there remains a fair degree of uncertainty out there.”

The Houston operator reported a 2% decline in gas volumes moving through its systems in the quarter, particularly on the Kinder Morgan Louisiana Pipeline and the Natural Gas Pipeline Co. of America because of the unprecedented decline in liquefied natural gas (LNG) demand. The Ruby Pipeline also suffered from...