This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Kinder Morgan Energy Partners Increases Quarterly Distribution To $1.26 Per Unit

TGP experienced significantly higher throughput for natural gas fired power generation in both the third quarter and for the first nine months, as power operators continued to consume more natural gas. TGP’s gas-fired power generation volumes increased by 8 percent versus the third quarter of 2011 and by 20 percent during the first nine months of this year compared to the same period a year ago.

Overall segment transport volumes (including volumes from acquired pipelines for all periods) were up 11 percent in the third quarter compared to the same period last year attributable to higher volumes on Fayetteville Express and solid transport volumes on the Texas intrastate pipeline system, due in part to Eagle Ford Gathering volumes. Sales volumes on the Texas intrastates were up 6 percent compared to the third quarter of 2011.

The CO 2 business produced third quarter segment earnings before DD&A and certain items of $332 million, up 16 percent from $287 million for the same period in 2011. Due to lower NGL prices, this segment is expected to be modestly below its published annual budget of 26 percent growth.

“Growth in the third quarter compared to the same period last year was attributable to excellent oil production at SACROC, strong NGL production at the Snyder Gasoline Plant, higher production at the Katz Field and higher oil prices,” Kinder said. “This segment’s results were impacted again by lower NGL prices, which are now projected to be about 21 percent lower for the full year than was assumed when the 2012 budget was developed, which equates to a negative impact of over $50 million.”

The company continued to realize strong NGL production in the third quarter, producing gross volumes of 18.7 thousand barrels per day (MBbl/d), up 12 percent from the same period in 2011. NGL production declined compared to the second quarter this year due to planned vessel inspections in September at the Snyder plant.

4 of 10

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,156.85 +24.88 0.15%
S&P 500 2,001.57 +2.59 0.13%
NASDAQ 4,562.1890 +9.43 0.21%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs