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Stock Market & Financial Investment News

News Breaks
December 11, 2012
12:39 EDTKMI, CDZICadiz announces agreement with Kinder Morgan
Cadiz (CDZI) announced it has entered into a new agreement with Kinder Morgan (KMI) securing the company's ownership of a 96-mile natural gas pipeline linking its holdings in the Cadiz Valley to the northern and central California water delivery network. The exchange agreement divides 220 miles of pipeline currently under option to the company, with the company gaining ownership rights to the 96-mile eastern segment between Barstow and the Cadiz Valley and returning to Kinder Morgan rights to the 124-mile western segment. In 2010, Cadiz procured an option to purchase the 220-mile pipeline for $40M from El Paso Natural Gas, which was subsequently acquired by Kinder Morgan. Kinder Morgan is currently exploring expansion of its oil and gas transportation network between Texas and California and desired to purchase back the rights to the western segment of this line. The consideration that Kinder Morgan has paid Cadiz for this agreement has been made by way of a reduction in the purchase price of the 96-mile eastern segment of the pipeline to a nominal amount of $1 (one dollar). In addition, Kinder Morgan will pay the company a further $10M cash payment at the time it seeks regulatory approval for use of the western line.
News For CDZI;KMI From The Last 14 Days
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May 20, 2015
14:17 EDTCDZICadiz water project endorsed by LA County Business Federation
Cadiz announced that the Los Angeles County Business Federation, a grassroots alliance of more than 135 local business groups, voted at its May 19 board meeting to support the Cadiz Valley Water Conservation, Recovery and Storage Project, a public-private partnership with the Santa Margarita Water District. The Cadiz Water Project will capture and conserve groundwater that is presently being lost to evaporation at the company’s 35,000-acre property in California’s eastern Mojave Desert and create a new supply of water for 400,000 people throughout Southern California over 50 years, the company said. Cadiz shares are up 4% following the announcement.
May 19, 2015
10:50 EDTKMIKinder Morgan says Georgia DOT declined Palmetto application
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09:58 EDTKMIOn The Fly: Analyst Initiation Summary
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May 18, 2015
16:26 EDTKMIKinder Morgan initiated with a Buy at Deutsche Bank
Target $49.
May 15, 2015
11:08 EDTKMIOmega Advisors gives quarterly update on stakes
NEW STAKES: Targa Resources (TRGP), Targa Resources Partners (NGLS), Humana (HUM), Dow Chemical (DOW), and Twenty-First Century Fox (FOXA). INCREASED STAKES: Kinder Morgan (KMI), Chimera Investment Corporation (CIM), AerCap Holdings (AER), Shire (SHPG), and KKR & Co. (KKR). DECREASED STAKES: eBay (EBAY), Altisource Portfolio Solutions (ASPS), Caesars Entertainment (CZR), Navient (NAVI), and TerraForm Power (TERP). LIQUIDATED STAKES: HCA Holdings (HCA), Gilead (GILD), Cabot Oil & Gas (COG), and Apple (AAPL).
May 13, 2015
11:32 EDTKMIONEOK 'most obvious' candidate to consider deal like Williams, says Wells Fargo
After Williams (WMB) announced a simplification deal with Williams Partners (WPZ) that is similar to Kinder Morgan's (KMI) rollup and Crestwood Equity's (CEQP) purchase of Crestwood Midstream (CMLP), Wells Fargo said it sees ONEOK (OKE) and ONEOK Partners (OKS) as the "most obvious" candidate likely to consider a similar deal. The firm believes other C-Corp/MLP pairs will be pushed to consider the merits of such transactions, but thinks the list of other candidates that really meet the criteria for such deals is short.
May 11, 2015
08:21 EDTKMIMitsubishi UFJ to hold a tour
Energy Tour travels throughout Houston and San Antonio, Texas to meet with various energy companies on May 11.

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