How it started
History
Kinder Morgan Energy Partners LP, headquartered at One Allen Center in Houston, Texas, was co-founded by Richard Kinder and William Morgan. The company began in 1997, when Kinder, a former Enron executive, and Morgan purchased the liquid pipeline assets of Enron for $40 million. It has since employed many former Enron employees, including former Enron whistleblower Jordan Mintz.
Kinder Morgan is credited for bucking the trend in MLPs that traditionally deliver low double-digit total return to investors. It has produced a 26 percent compound growth rate from its founding to May 2009.
On March 1, 2002, Shares of Kinder Morgan Inc., fell to a 15-month low on concern that the company faced competition for assets and on investor wariness about its partnership arrangements. On March 1, 2002, Nova Chemicals Corp. sold its 20-per-cent share of the Cochin pipeline, and the sale, for $64 million (U.S.), is subject to right of first refusal by the other Cochin owners, which include subsidiaries of Kinder Morgan Energy Partners LP.
In May 2013, the company acquired Copano Energy LLC (NASDAQ:CPNO, closed), which is now assigned under the company's Natural Gas Pipeline section as well as under Product Pipeline section. On August 10, 2014, Kinder Morgan announced it was moving to full ownership of along with two other partly owned companies, Kinder Morgan Management, and El Paso Pipeline Partners, in a deal worth $71 billion. Kinder Morgan announced its completion of the acquisition on November 26, 2014. The combined entity became the largest midstream energy company in North America.
From Wikipedia’s article on Kinder Morgan Energy Partners, shared under CC BY-SA 4.0.2