Kinder Morgan Announced $1.7 billion Trident Intrastate Pipeline Project

SEATTLE (Oil Monster): Kinder Morgan, Inc. announced the Trident Intrastate Pipeline Project, a 216-mile pipeline that will connect Katy, Texas to the LNG and industrial corridor at Port Arthur, Texas, with a capacity of about 1.5 billion cubic feet per day (Bcf/d). On the Mississippi Crossing Project, the business also obtained more legally binding, long-term transportation agreements.

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Kinder Morgan Disclosed Financial Expectations for 2025

The business released its financial results for the fourth quarter of 2024. In comparison to the same quarter last year, it posted fourth quarter earnings per share (EPS) of $0.30, an 11% increase. The adjusted EPS increased to $0.32, a 14% year-over-year increase. Kinder Morgan reported $667 million in net income attributable to the firm, up from $594 million in the fourth quarter of 2023. Additionally, the adjusted EBITDA of $2,063 million represented a 7% increase over the same quarter last year.

The company had another great quarter with very good financial and operational results, according to Executive Chairman Richard D. Kinder. After capital expenditures, it recorded $1.5 billion in operating cash flow and $0.7 billion in free cash flow (FCF). The company's balance sheet appears to be in good shape for the future. He noted that the company's goal for 2025 is to increase its budgeted net income by 8%, or $2.8 billion, attributable to KMI.