Partners

Kinder Morgan Energy Partners LP (KMP), owner and operator ofone of the largest product pipeline systems in the country,reported on Thursday that it expects to substantially exceed theconsensus first quarter earnings per unit estimate of $0.71 andyear 2001 earnings per unit estimate of $2.98. The company alsosaid it expects to increase the cash distribution per common unitfor the first quarter from $0.95 to $1.00.

El Paso Energy Partners LP has completed its $133 millionacquisition of South Texas fee-based natural gas liquidstransportation and fractionation assets from El Paso FieldServices. The Houston-based master limited partnership picked upmore than 600 miles of NGL gathering and transportation pipelinesand three fractionation plants in the deal.

Northern Border Partners L.P. (NBP) entered an agreement topurchase Bear Paw Energy, LLC from a consortium of investors for$370 million in cash and stock. Bear Paw Energy has gathering andprocessing operations in the Powder River Basin (PRB) in Wyomingand the Williston Basin in Montana, North Dakota and Saskatchewan.The company has about 226,000 acres under dedication and 600 milesof gathering pipelines in the PRB. Bear Paw holds over 2,800 milesof gathering pipoelines and four processing plants with a capacityof 90 MMcf/d in the Williston Basin. “Once completed, we will haveadded over $625 million in non-regulated assets to the partnershipwith our third major acquisition in a little over one year. Ourtotal mix of non-regulated businesses will be slightly over 25%,”said Bill Cordes, CEO of NBP. “These strategically located assetswill fit, both commercially and operationally, with Crestone EnergyVentures and Northern Border Pipeline.” NBP said $185 million willbe paid in its own common stock, with the remainder paid in cashand assumption of liabilities. Pending shareholder and regulatoryapprovals, the acquisition is targeted for completion by the end ofthe first quarter.

Market Hub Partners L.P., a division of Duke Energy GasTransmission, last week asked FERC for the go-ahead toincrementally expand its natural gas storage facility in Egan, LA,by 4 Bcf.

Market Hub Partners L.P., a division of Duke Energy GasTransmission, yesterday asked FERC for the go-ahead toincrementally expand its natural gas storage facility in Egan, LA,by 4 Bcf.

Kinder Morgan Energy Partners, L.P. announced it has purchasedDelta Terminal Services, Inc. for approximately $114 million incash. The acquisition “represents about half of the transactions weexpect to announce in December,” said Richard D. Kinder, KMPchairman, and brings to more than $2 billion the company’sannounced acquisitions this year. The Delta purchase includes twoliquid bulk storage terminals in New Orleans, LA, and Cincinnati,OH, providing services to producers of petroleum, chemicals andother products. “This acquisition is a great fit with our recentlyannounced GATX transaction — in which we acquired 12 terminalsacross the country — as it gives us liquids terminals in two newlocations, including access to the important Port of New Orleansmarket,” Kinder said. The New Orleans terminal has a storagecapacity of 2.5 million barrels, while the Cincinnati terminalholds 500,000 barrels.

Kinder Morgan Energy Partners LP has picked up a 32.5% stake in the Cochin Pipeline System from NOVA Chemical Corp. The 1,900 mile, 12-inch pipeline operates in the Canadian sedimentary basin between Fort Saskatchewan, AL and Sarnia, ON, carrying high vapor pressure ethane, ethylene, propane, butane and natural gas liquids to the Midwestern U.S. and eastern Canadian markets.

Kinder Morgan Energy Partners LP has picked up a 32.5% stake inthe Cochin Pipeline System from NOVA Chemical Corp. The 1,900 mile,12-inch pipeline operates in the Canadian sedimentary basin betweenFort Saskatchewan, AL and Sarnia, ON, carrying high vapor pressureethane, ethylene, propane, butane and natural gas liquids to theMidwestern U.S. and eastern Canadian markets.

Calgary-based Fort Chicago Energy Partners L.P. — which owns a 26% equity in the Alliance Pipeline project — said that its largest unit holder, Gendis Inc., will distribute 8.5 million units to shareholders by Nov. 24. Gendis, based in Winnepeg, will retain 6.2 million units of Fort Chicago following the transaction.