Kinder Morgan Energy Partners LP, the biggest U.S. pipeline operator since its parent company bought El Paso Corp. in May, said second-quarter profit fell as it reduced the value of some pipeline assets that it agreed to sell to obtain approval for the acquisition.
Kinder Morgan Inc. is counting on finding a buyer for El Paso Corp.’s oil and natural gas production business within six months to help pay off ballooning debt from its $21.1 billion acquisition of the rival pipeline company.
A group led by Apollo Global Management LLC agreed to acquire El Paso Corp.’s oil and natural gas exploration business for $7.15 billion in the second-biggest private equity takeover of an energy producer.
Enterprise Products Partners LP, the largest U.S. pipeline partnership by market value, will build a 1,230-mile (1,979-kilometer) line to ship ethane from Pennsylvania to U.S. Gulf Coast petrochemical plants.
Enterprise Products Partners LP , the largest U.S. pipeline operator, agreed to buy Enterprise GP Holdings LP for more than $8 billion, combining two of the partnerships founded by the late billionaire Dan Duncan .
India’s Reliance Industries Ltd., Norway’s Statoil ASA and Occidental Petroleum Corp. may be among bidders for El Paso Corp.’s oil and natural-gas unit as the companies seek to expand their stakes in U.S. shale fields.