KINDER MORGAN INC
For the period ended Dec 31, 2023. Filed Feb 20, 2024.
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FY2023 · Filed Feb 20, 2024
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General
Acquisitions
Following are acquisitions we made during the reporting period. See Note 3. “Acquisitions and Divestitures” to our consolidated financial statements for further information on these transactions.
| Event | Description | Business Segment |
|---|---|---|
| STX Midstream acquisition$1,831 million(December 2023) | We acquired the STX Midstream pipeline system consisting of a set of integrated, large diameter high pressure natural gas pipelines in the Eagle Ford basin, including the Eagle Ford Transmission system, a 90% interest in NET Mexico Pipeline LLC and a 50% interest in Dos Caminos, LLC. Approximately 75% of the business is supported by take-or-pay contracts. | Natural Gas Pipelines(Midstream activities) |
| Diamond M Field acquisition$13 million(June 2023) | We acquired the Diamond M Field asset which is located directly adjacent to our existing SACROC field. The field is currently under waterflood but is expected to be very receptive to CO2 flooding given its proximity to SACROC. We expect to begin implementation of enhanced oil recovery in 2024. | CO2(Oil and Gas Producing activities) |
2024 Dividends and Discretionary Capital
We expect to declare dividends of $1.15 per share for 2024, a 2% increase from the 2023 declared dividends of $1.13 per share. We also expect to invest $2.3 billion in expansion projects and contributions to joint ventures, or discretionary capital expenditures, during 2024.
The expectations for 2024 discussed above involve risks, uncertainties and assumptions, and are not guarantees of performance. Many of the factors that will determine these expectations are beyond our ability to control or predict, and because of these uncertainties, it is advisable not to put undue reliance on any forward-looking statement. Please read “Information Regarding Forward-Looking Statements” at the beginning of this report and Item 1A. “Risk Factors” for more information.
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