Kinder Morgan, Inc. announced on February 18, 2025, that its subsidiary, Hiland Partners Holdings LLC, closed on the previously announced $640 million acquisition of a natural gas gathering and processing system in North Dakota from Outrigger Energy II LLC. This completion integrates complementary assets with KMI's existing Hiland gas footprint.
The acquired system includes a 270 million cubic feet per day (MMcf/d) processing facility and a 104-mile, large-diameter, high-pressure rich gas gathering header pipeline with 350 MMcf/d of capacity. These assets connect supplies from the Williston Basin area to high-demand markets and are backed by long-term contracts with major customers.
Kinder Morgan expects this 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 to accommodate the growth of its existing Bakken customers.
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