Owns

Kinder Morgan Energy Partners (KMP) said it bought the remaining interest in Mid-Tex Gas Storage Co. LLP (Midtex), which owns the 5 Bcf Markham storage field in Matagorda County, TX, from NiSource for $17.5 million. The deal increases Kinder Morgan’s stake in the project from 68% to 100%.

Kinder Morgan Energy Partners (KMP) said it bought the remaining interest in Mid-Tex Gas Storage Co. LLP (Midtex), which owns the 5 Bcf Markham storage field in Matagorda County, TX, from NiSource for $17.5 million. The deal increases Kinder Morgan’s stake in the project from 68% to 100%.

London-based International Power, which owns more than 4,000 MW of power assets in the U.S., last week disclosed that it is considering mothballing some of its U.S. operational capacity. If the company follows through with such a move, it would follow similar decisions made by numerous other power companies in recent months.

San Diego-based Brandes Investment Partners LLC, which owns 6% of the common shares of El Paso, said on Friday it will vote to keep the current board of directors. On May 31, Brandes owned nearly 36 million shares of the company, however some of its clients retain voting discretion.

Kinder Morgan Inc. (KMI) and Kinder Morgan Energy Partners (KMP), in which KMI owns a general partnership share, reported record growth from internal pipeline and terminal operations for the first quarter and expect substantial increases for the year, according to CEO Richard Kinder, who raised KMI’s earnings guidance for the year by 5-10 cents/share.

Kinder Morgan Inc. (KMI) and Kinder Morgan Energy Partners (KMP), in which KMI owns a general partnership share, reported record growth from internal pipeline and terminal operations for the first quarter and expect substantial increases for the year, according to CEO Richard Kinder, who raised KMI’s earnings guidance for the year by 5-10 cents/share.

Questar is buying CIG Overthrust Inc.’s 10% interest in the Overthrust Pipeline for $1.8 million, giving two Questar affiliates a combined 100% ownership interest in the pipeline partnership, which owns an 88-mile, 36-inch-diameter pipeline that transports about 227 MMcf/d of gas from the Whitney Canyon area north of Evanston, WY, to Rock Springs, WY. “Ownership of the Overthrust Pipeline will enhance the services we provide and give us more flexibility,” said Questar Pipeline President Nick Rose. “It is a natural fit for us with its location in our service territory and proximity to our facilities and supply sources.” Questar Pipeline designed and built the Overthrust system and has operated it since its completion in October 1982. In February, the company increased its ownership in the pipeline from 72% to 90% when it purchased the interest of NGPL Overthrust Inc. The Overthrust Pipeline is the westernmost segment of the 793-mile Trailblazer system, which runs from southwestern Wyoming to Beatrice, NE.

Questar is buying CIG Overthrust Inc.’s 10% interest in the Overthrust Pipeline for $1.8 million, giving two Questar affiliates a combined 100% ownership interest in the pipeline partnership, which owns an 88-mile, 36-inch-diameter pipeline that transports about 227 MMcf/d of gas from the Whitney Canyon area north of Evanston, WY, to Rock Springs, WY.

Exxon Mobil Corp., which owns a 25% stake in Thunder Horse — the largest oil and gas discovery to date in the deepwater Gulf of Mexico — this week approved an undisclosed amount of money to fund its share of development costs. Together with 75% stakeholder BP, the Houston-based major will begin construction of what will become the world’s largest semi-submersible floating production, drilling and quarters (PDQ) unit, with a total operating displacement of more than 140,000 tons. The project is scheduled for initial oil and natural gas production in 2005.