Crestwood/Con Ed Sell Stagecoach Gas to Kinder Morgan for $1 2B marcellusdrilling.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marcellusdrilling.com Daily Mail and Mail on Sunday newspapers.
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Kinder Morgan (NYSE:KMI) has agreed to acquire Stagecoach Gas Services, a natural gas pipeline and storage joint venture currently owned by
Crestwood Equity Partners (NYSE:CEQP). It s paying $1.225 billion in cash for Stagecoach, which comprises four natural gas storage facilities and three pipelines in the Northeast.
It s a notable deal for all parties. The transaction will provide an immediate boost to Kinder Morgan s cash flow. Meanwhile, it will significantly bolster the financial profile of both sellers. Those benefits will enhance all three companies ability to pay their high-yielding dividends.
WASHINGTON (dpa-AFX) - Crestwood Equity Partners LP (CEQP) and Consolidated Edison, Inc. (ED) announced Tuesday that their subsidiaries entered into a purchase and sale agreement to divest Stagecoach
Reuters
2 minute read
The headquarters of U.S. energy exporter and pipeline operator Kinder Morgan Inc. is seen in Houston, Texas, U.S. September 27, 2020. REUTERS/Gary McWilliams
Kinder Morgan Inc (KMI.N) said on Tuesday it has agreed to buy Stagecoach Gas Services LLC for $1.23 billion as the pipeline operator looks to expand into the northeast U.S. market.
Stagecoach is a natural gas pipeline and storage joint venture between Consolidated Edison Inc (ED.N) and Crestwood Equity Partners LP (CEQP.N).
The deal, expected to close in the third quarter, will give Kinder access to Stagecoach s four natural gas storage facilities and three pipelines serving the northeast market. (https://refini.tv/34DcQvK)