The projections for KMP and KMR also do not include any impact from the proposed acquisition of EP by KMI.In 2012, KMP expects to:
- Generate almost $4.4 billion in business segment earnings before DD&A (adding back KMP’s share of joint venture DD&A), an increase of approximately $560 million over the 2011 forecast.
- Distribute almost $1.7 billion to its limited partners.
- Produce excess cash flow of more than $50 million above the distribution target of $4.98 per unit.
- Invest approximately $1.7 billion in expansions (including contributions to joint ventures) and small acquisitions. Over $490 million of the equity required for this investment program is expected to be funded by KMR dividends.
The boards of directors will review and approve the 2012 Kinder Morgan budgets at the January board meeting and the budgets will be discussed in detail during the company’s annual analyst meeting on Jan. 25, 2012, in Houston. Kinder Morgan remains committed to transparency and will continue to publish its budgets on the company’s web site, www.kindermorgan.com. The 2012 budget will be the standard by which KMI, KMP and KMR measure their performance next year and will be a target for determining employee bonuses.Kinder Morgan, Inc. (NYSE: KMI) is a leading pipeline transportation and energy storage company in North America. It owns an interest in or operates more than 37,000 miles of pipelines and 180 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO 2 and other products, and its terminals store petroleum products and chemicals and handle such products as ethanol, coal, petroleum coke and steel. KMI owns the general partner interest of Kinder Morgan Energy Partners, L.P. (NYSE: KMP), one of the largest publicly traded pipeline limited partnerships in America. Combined, KMP, KMR and KMI constitute the largest midstream energy entity in the United States with an enterprise value of approximately $55 billion. For more information please visit www.kindermorgan.com. This news release includes forward-looking statements. Although Kinder Morgan believes that its expectations are based on reasonable assumptions, it can give no assurance that such assumptions will materialize. Important factors that could cause actual results to differ materially from those in the forward-looking statements herein are enumerated in Kinder Morgan’s Forms 10-K and 10-Q as filed with the Securities and Exchange Commission.