Morgan

Kinder Morgan Inc. subsidiary Natural Gas Pipeline Company of America (NGPL) is holding a binding open season for incremental storage capacity in its 2009 expansion project, which, as planned, will provide an additional 10 Bcf of firm capacity.

Kinder Morgan Energy Partners (KMP) reported Thursday that net income before certain items in the first three months of 2007 was $216.3 million versus $246.7 million for the same period a year ago. Net income including certain items was slightly less at $214.9 million compared with $246.7 million in 1Q2006. The certain items in 1Q2007, adding up to the loss of $1.4 million, included refinancing debt at the Red Cedar Gathering Co. and insurance costs and recoveries associated with hurricanes Katrina and Rita.

Kinder Morgan Inc. (KMI) said last week it received clearance from the Federal Trade Commission (FTC) for its $22 billion management-led buyout (see NGI, Dec. 25, 2006; June 5, 2006) following a settlement to resolve antitrust concerns over gasoline terminaling operations.

Kinder Morgan Inc. (KMI) said Thursday it received clearance from the Federal Trade Commission (FTC) for its $22 billion management-led buyout (see Daily GPI, Dec. 20, 2006; May 31, 2006) following a settlement to resolve antitrust concerns over gasoline terminaling operations.

New York-based hedge fund Highbridge Capital Management, majority owned by JP Morgan Chase & Co. (JPM), reached an agreement last week to invest in Louis Dreyfus Group’s merchant energy arm to form a new trading partnership. The venture, to be called Louis Dreyfus Highbridge Energy LLC (LDH Energy), will trade both physical and financial contracts, supported by a portfolio of energy assets that include storage and transportation facilities.

New York-based hedge fund Highbridge Capital Management, majority owned by JP Morgan Chase & Co. (JPM), has reached an agreement to invest in Louis Dreyfus Group’s merchant energy arm to form a new trading partnership. The venture, to be called Louis Dreyfus Highbridge Energy LLC (LDH Energy), will trade both physical and financial contracts, supported by a portfolio of energy assets that include storage and transportation facilities.

GE Energy Financial Services last week agreed to purchase a portion of the Kinder Morgan Inc. (KMI) natural gas retail distribution and related operations for $710 million plus working capital. The operations serve 260,000 customers in Colorado, Nebraska, Wyoming and Hermosillo, Mexico.

GE Energy Financial Services on Monday agreed to purchase a portion of the Kinder Morgan Inc. (KMI) natural gas retail distribution and related operations for $710 million plus working capital. The operations serve 260,000 customers in Colorado, Nebraska, Wyoming and Hermosillo, Mexico.

ConocoPhillips exercised an option to acquire a 25% stake in the Rockies Express Pipeline Project, Kinder Morgan Energy Partners LP (KMP) and Sempra Pipelines & Storage said Friday. The oil major, whose Lower 48 natural gas output increased substantially with its acquisition of Burlington Resources (see Daily GPI, April 3), said it will move gas production on the pipeline in addition to owning a stake.