Kinder Morgan acquires Bakken gas gathering system
Houston-based energy infrastructure company Kinder Morgan (KMI) said January 13 its Hiland Partner Holdings subsidiary has agreed to purchase a natural gas gathering and processing system in North Dakota’s Bakken play from Outrigger Energy for $640mn.
The acquisition includes a 270mn ft3/day processing facility and a 104-mile rich gas gathering header pipeline with 350mn ft3/day of capacity connecting associated gas supplies from the Williston Basin to high-demand markets.
“We’re pleased to be integrating this complementary system with our existing Hiland gas assets to aggregate additional supplies from the Bakken,” KMI Natural Gas Midstream President Tom Dender said. “This strategic acquisition allows us to efficiently expand our footprint and provide incremental transportation and processing services to meet the growing needs of our customers.”
The transaction requires clearance under the US Hart-Scott-Rodino Antitrust Improvements Act and is expected to close in Q1 2025.