ExxonMobil Joins Kinder Morgan, EagleClaw and Apache on Permian Highway Pipeline Project

Kinder Morgan Texas Pipeline LLC (KMTP), a subsidiary of Kinder Morgan,
Inc. (NYSE: KMI), EagleClaw Midstream Ventures, LLC (EagleClaw), a
portfolio company of Blackstone Energy Partners, and Apache Corporation
(NYSE, NASDAQ: APA) today announced that Exxon Mobil Corporation (NYSE:
XOM) has signed a letter of intent to support the proposed Permian
Highway Pipeline Project (PHP Project). Under the letter of intent,
ExxonMobil subsidiary XTO Energy may contract for up to 450,000
dekatherms per day (Dth/d) of capacity on the pipeline.

The approximately $2 billion PHP Project will provide an outlet for
increased natural gas production from the Permian Basin to growing
market areas along the Texas Gulf Coast and is designed to transport up
to 2 billion cubic feet per day (Bcf/d) of natural gas through
approximately 430 miles of 42-inch pipeline from the Waha to Katy,
Texas, areas, with connections to the U.S. Gulf Coast and Mexico
markets. The PHP Project is expected to be in service in late 2020,
subject to the execution of definitive agreements and the receipt of
construction permits.

As previously announced, KMTP and EagleClaw will be the initial
partners, each with a 50 percent ownership interest in the project.
Apache and EagleClaw will both be significant shippers on the proposed
pipeline, with each entity planning to commit up to 500,000 Dth/d to the
project. Apache will also have the option to acquire equity from the
initial partners. KMTP will build and operate the pipeline.

“We are committed to supporting development of the infrastructure needed
for our planned production growth in the Permian Basin,” said Sara
Ortwein, President, XTO Energy. “The Permian Highway Pipeline will
provide additional capacity for reliable transportation of natural gas
to the U.S. Gulf Coast.”

“We are very pleased to have an industry leader like ExxonMobil support
our project and are encouraged by the significant progress we have made
with our co-developers and other potential shippers to rapidly shore up
commitments,” said Sital Mody, President of Kinder Morgan Natural Gas
Midstream. “We expect this development will accelerate our path to a
final investment decision.”

In addition, KMTP and EagleClaw will hold an open season for capacity on
the PHP Project. The open season begins on August 10, 2018, and
interested parties should submit their written request to Dave Grisko,
vice president of business development for Kinder Morgan’s Natural Gas
Midstream group, at david_grisko@kindermorgan.com
or (713) 369-9870.

About Kinder Morgan, Inc.

Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy
infrastructure companies in North America. We own an interest in or
operate approximately 85,000 miles of pipelines and 152 terminals. Our
pipelines transport natural gas, refined petroleum products, crude oil,
condensate, CO₂ and other products, and our terminals
transload and store liquid commodities including petroleum products,
ethanol and chemicals, and bulk products, including petroleum coke,
metals and ores. For more information please visit www.kindermorgan.com.

About EagleClaw Midstream Ventures, LLC

EagleClaw Midstream Ventures, LLC is focused on rapid response to the
midstream infrastructure requirements of Permian producers. The Company
provides comprehensive gathering, transportation, compression,
processing and treating services necessary to bring natural gas, natural
gas liquids and crude oil to market. EagleClaw currently has long term
dedications for over 300,000 acres from a broad number of successful and
active producers in the Delaware basin. For more information, please
visit www.eagleclawmidstream.com.

About Blackstone

Blackstone Energy Partners is Blackstone's energy-focused private equity
business, with a successful record built on our industry expertise and
partnerships with exceptional management teams. Blackstone has invested
over $15 billion of private equity globally across a broad range of
sectors within the energy industry. Blackstone (NYSE: BX) is one of the
world's leading investment firms. Our asset management businesses, with
over $440 billion in assets under management, include investment
vehicles focused on private equity, real estate, public debt and equity,
non-investment grade credit, real assets and secondary funds, all on a
global basis. Further information is available at www.blackstone.com.

About Apache Corporation

Apache Corporation is an oil and gas exploration and production company
with operations in the United States, Egypt and the United Kingdom.
Apache posts announcements, operational updates, investor information
and copies of all press releases on its website, www.apachecorp.com,
and on its Media and Investor Center mobile application, which is
available for free download from the Apple App Store and the Google Play
store.

About Exxon Mobil Corporation

ExxonMobil, the largest publicly traded international oil and gas
company, uses technology and innovation to help meet the world’s growing
energy needs. ExxonMobil holds an industry-leading inventory of
resources, is one of the largest refiners and marketers of petroleum
products and its chemical company is one of the largest in the world.
For more information, visit www.exxonmobil.com
or follow us on Twitter http://www.twitter.com/exxonmobil.

Important Information Relating to Kinder
Morgan’s Forward-Looking Statements

This news release includes forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995 and
Section 21E of the Securities and Exchange Act of 1934. Generally the
words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,”
“estimates,” and similar expressions identify forward-looking
statements, which are generally not historical in nature.
Forward-looking statements are subject to risks and uncertainties and
are based on the beliefs and assumptions of management, based on
information currently available to them. Although Kinder Morgan believes
that these forward-looking statements are based on reasonable
assumptions, it can give no assurance that any such forward-looking
statements will materialize. Important factors that could cause actual
results to differ materially from those expressed in or implied from
these forward-looking statements include the risks and uncertainties
described in Kinder Morgan’s reports filed with the Securities and
Exchange Commission, including its Annual Report on Form 10-K for the
year-ended December 31, 2017 (under the headings “Risk Factors” and
“Information Regarding Forward-Looking Statements” and elsewhere) and
its subsequent reports, which are available through the SEC’s EDGAR
system at www.sec.gov
and on our website at ir.kindermorgan.com. Forward-looking statements
speak only as of the date they were made, and except to the extent
required by law, KMI undertakes no obligation to update any
forward-looking statement because of new information, future events or
other factors. Because of these risks and uncertainties, readers should
not place undue reliance on these forward-looking statements.

Important Information Relating to Apache’s
Forward-Looking Statements

This press release includes forward-looking statements. Except for
the historical information contained herein, the matters discussed in
this press release are forward-looking statements that involve certain
risks and uncertainties, such as Apache’s expectations regarding future
results, capital expenditures, project completions, liquidity and
financial market conditions. These risks and uncertainties include,
among other things, insufficient cash from operations, adverse market
conditions, governmental regulations and other factors discussed in
Apache’s filings with the U.S. Securities and Exchange Commission. If
any of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results or outcomes may vary
materially from those expected. Apache disclaims any intention or
obligation to update publicly or reverse such statements, whether as a
result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180809005801/en/

News by QuoteMedia

www.quotemedia.com