Kinder Morgan, Inc. announced on January 13, 2025, that its subsidiary, Hiland Partners Holdings LLC, agreed to purchase a natural gas gathering and processing system in North Dakota from Outrigger Energy II LLC for $640 million. This acquisition expands KMI's existing Bakken assets.
The acquired system includes a 270 million cubic feet per day (MMcf/d) processing facility and a 104-mile rich gas gathering header pipeline with 350 MMcf/d of capacity. The system is backed by long-term contracts with major customers in the Williston Basin.
KMI expects the acquisition to be immediately accretive to its shareholders, with a 2025 Adjusted EBITDA multiple of approximately 8 times on a full-year basis. The transaction is also anticipated to reduce future capital expenditures needed for existing Bakken customer expansions.
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