KINDER MORGAN INC
For the period ended Sep 30, 2024. Filed Oct 18, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 18, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
General and Basis of Presentation
The following discussion and analysis should be read in conjunction with our accompanying interim consolidated financial statements and related notes included elsewhere in this report, and in conjunction with (i) our consolidated financial statements and related notes in our 2023 Form 10-K; (ii) our management’s discussion and analysis of financial condition and results of operations included in our 2023 Form 10-K; (iii) “Information Regarding Forward-Looking Statements” at the beginning of this report and in our 2023 Form 10-K; and (iv) “Risk Factors” in Part I, Item 1 in our 2023 Form 10-K.
Acquisition and Divestitures
The following acquisition and divestitures were made during the 2024 period. See Note 2. “Acquisitions and Divestitures” to our consolidated financial statements for further information on these transactions.
| Event | Description | Business Segment |
|---|---|---|
| North McElroy Unit acquisition$60 million(June 2024) | We acquired AVAD Energy Partners’ interest in the North McElroy Unit (NMU). NMU is an existing waterflood that currently produces approximately 1,250 Bbl/d of crude oil. Our analysis suggests that NMU could be a candidate for CO2 flooding. | CO2(Oil and Gas Producing activities) |
| CO2 assets divestiture$19 million(June 2024) | We sold our interests in the Katz Unit, Goldsmith Landreth San Andres Unit, Tall Cotton Field and Reinecke Unit, along with certain shallow interests in the Diamond M Field, all located in the Permian Basin, and received a leasehold interest in an undeveloped leasehold directly adjacent to the SACROC unit. | CO2(Oil and Gas Producing activities) |
| Oklahoma assets divestiture$43 million(February 2024) | We sold our Oklahoma midstream assets consisting of our Oklahoma system and Cedar Cove. | Natural Gas Pipelines(Midstream) |
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 now expect to invest $1.98 billion in expansion projects, acquisitions, and contributions to joint ventures 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.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.