Tuesday, December 7, 2010

Kinder Morgan plans to increase distributions in 2011 by 4.5 percent

HOUSTON, Texas - Kinder Morgan Energy Partners LP said on Nov. 29 that it expects cash distributions next year of $4.60 per unit, which would be an annual increase of 4.5 percent over 2010.

The pipeline and energy storage company said it expects to meet its projection of a 4.8 percent annual increase in 2010 distributions of $4.40 per unit.

In addition, Kinder said it anticipates investing about $1.4 billion in expansions and acquisitions next year.

KMP said it's assuming an average West Texas Intermediate crude oil price of about $89 per barrel in 2011.

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