Kinder Morgan to buy Crosstex assets

Kinder Morgan Energy Partners, L.P. (KMP), has entered into a purchase and sales agreement to acquire the natural gas treating business from Crosstex Energy, L.P., and Crosstex Energy Inc. or approximately $266 million, including working capital, subject to certain closing adjustments.

KMP is purchasing approximately 290 amine-treating and dew-point control plants predominantly located in Texas and Louisiana, with additional facilities in Mississippi, Oklahoma, Arkansas and Kansas. The transaction will make KMP the largest provider of contract-provided treating plants in the United States.

“We are pleased to have the opportunity and financial strength to grow our company even during difficult economic times,” said Richard D. Kinder, chairman and CEO of KMP. “We look forward to offering natural gas treating services to our Texas intrastate customers and to other producers in various supply basins, including the rapidly developing shale plays.”

Close this Window Bookmark and Share This Page

Save to Browser Favorites / Bookmarks

Print RSS Feed Ask backflip blinklist BlogBookmark Bloglines BlogMarks Blogsvine BuddyMarks BUMPzee! CiteULike co.mments

Connotea del.icio.us Digg diigo DotNetKicks DropJack dzone Facebook Fark Faves Feed Me Links Friendsite folkd.com

Furl Google Hugg Jeqq Kaboodle kirtsy linkaGoGo linkedin LinksMarker Ma.gnolia Mister Wong Mixx MySpace

MyWeb Netvouz Newsvine oneview OnlyWire PlugIM Propeller Reddit Rojo Segnalo Shoutwire Simpy Slashdot

Sphere Sphinn Spurl Squidoo StumbleUpon Technorati ThisNext Tumblr Twitter Webride Windows Live Yahoo!

Email This to a Friend

Copy HTML: 

 If you like this then please subscribe to the RSS Feed.

More »