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El Paso Eyes Kinder Morgan's Interest in Ruby Pipeline, Other Assets

El Paso Pipeline Partners, L.P. Kinder Morgan, Inc.
AnnouncedApr 28, 2014
TypeAsset
LocationBakken Shale & Three Forks,Piceance Basin
Announced Date
April 28,2014
Transaction Type
Asset




Snapshot
Location
Region
Williston Basin

Country
United States

State
Wyoming

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El Paso Pipeline Partners L.P. will acquire from Kinder Morgan, Inc. KMI’s 50 percent interest in Ruby Pipeline, 50 percent interest in Gulf LNG and 47.5 percent interest in Young Gas Storage.

The transaction value is approximately $2 billion, including $1.012 billion of proportionate debt at Ruby and Gulf LNG, resulting in an equity purchase price of $972 million (consistent with EPB’s budget). The purchase, which is expected to close in May and be effective April 30, 2014, was approved by the independent members of the board of directors of KMI, and by the conflicts committee and the board…



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