HOUSTON, Jan. 14 /CNW/ -- Rockies Express Pipeline LLC today announced
that interim service with capacity of about 1.4 billion cubic feet (Bcf) per
day began Saturday, Jan. 12, on approximately 500 miles of Rockies
Express-West (REX-West) from the Cheyenne Hub in Weld County, Colo., to the
ANR delivery point in Brown County, Kan. This section also includes delivery
points to Kinder Morgan Interstate Gas Transmission, Northern Natural Gas
Company and Natural Gas Pipeline Company of America. The remaining 213-mile
section of REX-West will continue eastward to Audrain County, Mo., and is
expected to be in service in early February at which time capacity will
increase to about 1.5 Bcf per day.
"We are delighted the majority of REX-West is in service and look forward
to REX-West being fully operational in early February," said Scott Parker,
president of Kinder Morgan's natural gas pipelines. REX-West is a 713 mile,
42-inch diameter pipeline with deliveries available on the pipeline system to
interconnects with Kinder Morgan Interstate Gas Transmission, Northern Natural
Gas Company, Natural Gas Pipeline Company of America, ANR and Panhandle
Eastern Pipeline Company.
Rockies Express Pipeline LLC is a joint venture of Kinder Morgan Energy
Partners, L.P. (NYSE: KMP), Sempra Pipelines and Storage, a unit of Sempra
Energy (NYSE: SRE), and ConocoPhillips (NYSE: COP), and is one of the largest
natural gas pipelines to be constructed in North America. When completed,
after receipt of all necessary approvals, the 1,678-mile pipeline will have a
capacity of approximately 1.8 Bcf per day. Binding firm commitments from
creditworthy shippers have been secured for all of the capacity on the
pipeline. KMP is overseeing construction of the project and will operate the
Subject to receipt of regulatory approvals, it is anticipated that
interim service on REX-East will begin as early as Dec. 30, 2008, and be fully
operational by June 2009. The first 328-mile segment of the Rockies Express
project, which runs from the Meeker Hub in Rio Blanco County, Colo., to the
Wamsutter Hub in Sweetwater County, Wyo., to the Cheyenne Hub is in service
and has a current capacity of 500,000 dekatherms per day.
Kinder Morgan Energy Partners is a leading pipeline transportation and
energy storage company in North America. KMP owns an interest in or operates
more than 24,000 miles of pipelines and 150 terminals. Its pipelines transport
natural gas, gasoline, crude oil, CO2 and other products, and its terminals
store petroleum products and chemicals and handle bulk materials like coal and
petroleum coke. KMP is also the leading provider of CO2 for enhanced oil
recovery projects in North America. One of the largest publicly traded
pipeline limited partnerships in America, KMP has an enterprise value of
approximately $20 billion. The general partner of KMP is owned by Knight Inc.
(formerly Kinder Morgan, Inc.), a private company.
Sempra Pipelines & Storage acquires, builds and operates natural gas
pipelines and storage facilities in Mexico and the United States. Sempra
Energy, based in San Diego, is a Fortune 500 energy-services holding company
with 2006 revenues of nearly $12 billion. The Sempra Energy companies' 14,000
employees serve more than 29 million consumers worldwide.
ConocoPhillips is an integrated petroleum company with interests around
the world. Headquartered in Houston, the company had approximately 32,500
employees, $173 billion of assets and $180 billion of revenues as of September
30, 2007. For more information, go to http://www.conocophillips.com.
This news release includes forward-looking statements. Although Kinder
Morgan believes that its expectations are based on reasonable assumptions, it
can give no assurance that such assumptions will materialize. Important
factors that could cause actual results to differ materially from those in the
forward-looking statements herein are enumerated in Kinder Morgan's Forms 10-K
and 10-Q as filed with the Securities and Exchange Commission.
This press release contains statements that are not historical fact and
constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. When Sempra Energy uses words like
"believes," "expects," "anticipates," "intends," "plans," "estimates," "may,"
"would," "should" or similar expressions, or when Sempra Energy discusses its
strategy or plans, the company is making forward-looking statements.
Forward-looking statements are not guarantees of performance. They involve
risks, uncertainties and assumptions. Future results may differ materially
from those expressed in the forward-looking statements. Forward-looking
statements are necessarily based upon various assumptions involving judgments
with respect to the future and other risks, including, among others: local,
regional, national and international economic, competitive, political,
legislative and regulatory conditions and developments; actions by the
California Public Utilities Commission, the California State Legislature, the
California Department of Water Resources, the Federal Energy Regulatory
Commission and other regulatory bodies in the United States and other
countries; capital markets conditions, inflation rates, interest rates and
exchange rates; energy and trading markets, including the timing and extent of
changes in commodity prices; the availability of natural gas; weather
conditions and conservation efforts; war and terrorist attacks; business,
regulatory, environmental, and legal decisions and requirements; the status of
deregulation of retail natural gas and electricity delivery; the timing and
success of business development efforts; the resolution of litigation; and
other uncertainties, all of which are difficult to predict and many of which
are beyond the control of the company. These risks and uncertainties are
further discussed in the company's reports filed with the Securities and
Exchange Commission that are available through the EDGAR system without charge
at its Web site, http://www.sec.gov and on the company's Web site,
Sempra Pipelines & Storage is not the same company as the utilities,
SDG&E or SoCalGas, and Sempra Pipelines & Storage is not regulated by the
California Public Utilities Commission. CAUTIONARY STATEMENT FOR THE PURPOSES
OF THE "SAFE HARBOR" PROVISIONS OF THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements within the meaning
of the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995. Forward-looking statements are statements that contain
projections about our revenues, income, earnings and other financial items,
our plans and objectives for the future, future economic performance, or other
projections or estimates about our assumptions relating to these types of
statements. These statements usually relate to future events and anticipated
revenues, earnings, business strategies, competitive position or other aspects
of our operations or operating results. In many cases you can identify
forward-looking statements by terminology such as "anticipate," "estimate,"
"believe," "continue," "could," "intend," "may," "plan," "potential,"
"predict," "should," "will," "expect," "objective," "projection," "forecast,"
"goal," "guidance," "outlook," "effort," "target" and other similar words.
However, the absence of these words does not mean that the statements are not
forward-looking. The forward-looking statements are based on management's
expectations, estimates and projections about ConocoPhillips and the petroleum
industry in general on the date this statement was released. These statements
are not guarantees of future performance and involve certain risks,
uncertainties and assumptions that are difficult to predict. Further, certain
forward-looking statements are based on assumptions as to future events that
may not prove to be accurate. Therefore, actual outcomes and results may
differ materially from what is expressed or forecast in such forward-looking
statements. Economic, business, competitive and regulatory factors that may
affect ConocoPhillips' business are generally as set forth in ConocoPhillips'
filings with the Securities and Exchange Commission (SEC).
ConocoPhillips is under no obligation (and expressly disclaims any such
obligation) to update or alter its forward-looking statements whether as a
result of new information, future events or otherwise.
For further information:
For further information: Joe Hollier, media relations, +1-713-369-9176,
or Mindy Mills, investor relations, +1-713-369-9490, both of Kinder Morgan
Energy Partners, L.P.; or Art Larson, media relations, 1-877-866-2066, or
Glen Donovan, investor relations, 1-877-736-7727, both of Sempra Energy; or
Bill Graham, media relations, +1-281-293-1978, or Gary Russell, investor
relations, +1-212-207-1996, both of ConocoPhillips Web Site: