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Kinder Morgan concludes USD 3bn Hiland Partners midstream takeover

13th February 2015

Kinder Morgan has closed its previously announced acquisition of Hiland Partners (Hiland) for a total purchase price of approximately USD 3bn, including the assumption of approximately USD 1bn of debt

Kinder Morgan has closed its previously announced acquisition of Hiland Partners (Hiland) for a total purchase price of approximately USD 3bn, including the assumption of approximately USD 1bn of debt

Hiland’s assets, mostly fee based, consist of crude oil gathering and transportation pipelines and natural gas gathering and processing systems, primarily serving production from the Bakken Formation in North Dakota and Montana.

“This transaction establishes a premier midstream platform for us in the Bakken with a significant amount of acreage dedicated under long-term gathering agreements,” said Kinder Morgan chairman and CEO Richard D. Kinder.

“These acreage dedications are with some of the Bakken’s largest and most successful producers, covering some of the most attractive and economically viable areas in the basin. We look forward to providing quality midstream services to producers in the Bakken and pursuing incremental growth opportunities in the basin.”

Hiland’s customers include Continental Resources, Inc., Oasis Petroleum Inc., XTO Energy Inc., Whiting Petroleum Corporation and Hess Corporation, among others.

 

 

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