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Stock Market & Financial Investment News

News Breaks
December 11, 2012
12:39 EDTCDZI, KMICadiz 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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July 28, 2015
10:31 EDTKMIKinder Morgan starts binding open season for Mier-Monterrey pipeline expansion
Kinder Morgan Gas Natural de Mexico, a subsidiary of Kinder Morgan, announced the start of a binding open season to solicit interest for incremental firm natural gas transportation service on its Mier-Monterrey pipeline, which would expand capacity to approximately 1.34B cubic feet per day. The expansion project, which would be completed by the fourth quarter of 2017, will consist of the looping of the existing Mier-Monterrey pipeline system from the Mexico-United States border to Huinalá, Nuevo León, Mexico, and a new lateral from Pesquería, Nuevo León, Mexico, to Escobedo, Nuevo León, Mexico. The open season bid period begins on Aug. 13, 2015, and ends at 5 p.m. Central Time on Aug. 22, 2015.
July 24, 2015
16:44 EDTKMIUIL Holdings to invest in natural gas pipeline project
UIL Holdings Corporation (UIL) will invest in a natural gas transmission pipeline project that, when complete, is expected to alleviate capacity constraints in the system that serves New England and the northeast region. UIL announced its investment in the development of Kinder Morgan’s (KMI) proposed Northeast Energy Direct natural gas pipeline project, which will extend approximately 188 miles of new transmission pipeline from New York State, through Massachusetts and New Hampshire. The new pipeline is expected to begin commercial operation in 2018. Under an agreement signed this week, UIL has acquired a 2.5% interest, or approximately $80M, in Northeast Expansion. UIL will also have additional options -- under limited circumstances -- to increase its equity participation. Northeast Expansion is the joint venture responsible for development, construction and ownership of the new pipeline, which will be part of Kinder Morgan’s Tennessee Gas Pipeline system.
July 16, 2015
09:02 EDTKMIKinder Morgan approves proceeding with TGP's Northeast Energy project
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08:48 EDTKMIKinder Morgan recent selloff overdone, says BofA/Merrill
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July 15, 2015
19:03 EDTKMIOn The Fly: After Hours Movers
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16:21 EDTKMIShell to sell equitiy interest in Elba LNG JV to Kinder Morgan
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16:19 EDTKMIShell to sell equitiy interest in Elba LNG JV to Kinder Morgan
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16:13 EDTKMIKinder Morgan to purchase 100% of Shell's equity interest in Elba LNG JV
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16:09 EDTKMIKinder Morgan expects to declare dividends of $2.00 per share in 2015
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16:08 EDTKMIKinder Morgan increases project backlog, JV investments to $22B
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16:07 EDTKMIKinder Morgan reports Q2 EPS 15c, consensus 19c
Reports Q2 revenue $3.46B, consensus $3.96B.
16:06 EDTKMIKinder Morgan raises quarterly dividend to 49c per share
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14:53 EDTKMINotable companies reporting after market close
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