February 16, 2015 [OPIS] - Kinder Morgan Inc. said on Friday that it has completed its previously announced acquisition of Hiland Partners for a total purchase price of approximately $3 billion, including the assumption of approximately $1 billion of debt.
Hiland’s assets, mostly fee-based, consist of crude oil gathering and transportation pipelines and natural gas gathering and processing systems, primarily serving production from the Bakken Formation in North Dakota and Montana.
This would represent Kinder Morgan’s first foray into the growing Bakken crude logistics arena.
Hiland’s customers include Continental Resources Inc., Oasis Petroleum Inc., XTO Energy Inc., Whiting Petroleum Corp. and Hess Corp., among others.
