Kinder Morgan Turns to Permian Expansions as Gas Results Boom

Researched by Industrial Info Resources (Sugar Land, Texas)--Once again, natural gas proved to be the breadwinner for Kinder Morgan Incorporated (NYSE:KMI) (Houston, Texas), which saw its first-quarter earnings from its natural gas pipeline business grow more than 10%. These results, which were driven by a 42% increase in volumes from the Haynesville Shale and a 21% increase from the Eagle Ford, help to explain why investments in natural gas pipelines account for nearly all of Kinder Morgan's active projects, excluding its massive proposals for liquefied natural gas (LNG) export terminals.

Industrial Info is tracking more than $12.3 billion worth of active, U.S.-based Kinder Morgan projects. The company announced in December it would invest $2.1 billion in expansion projects and contributions to joint ventures in 2023. While its volume gains from the Haynesville and Eagle Ford came from pipeline systems fully in place, Kinder Morgan is tacking hopes for many of its upcoming expansion projects to the Permian Basin.