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Kinder Morgan's (KMI) Tennessee Pipeline Declares Force Majeure
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Kinder Morgan’s (KMI - Free Report) unit Tennessee Gas Pipeline declared force majeure on a portion of its pipeline close to Centerville in Hickman County, following an explosion and fire caused by an equipment failure at a compressor station.
Around 200 people who were within a mile of the facility were reportedly evacuated by the Hickman County Sheriff's Office. According to the company, the fire was put out and there were no casualties. While the investigation into the cause of the explosion is ongoing, the evacuation order has been withdrawn and Highway 48 has been reopened. Flows for previously scheduled nominations are not affected, although further gas supply through the segment is at risk, per media reports.
The Tennessee Pipeline is an interstate natural gas pipeline system that transports gas to the Northeast, Midwest and Southeast U.S. from basins between Texas and Alabama. It does so via 11,900 miles of pipeline.
According to Kinder Morgan, a safety assessment is underway and will conduct cleanup activities and develop a repair plan once it is safe to access the site.
Zacks Rank & Key Picks
Kinder Morgan currently holds a Zacks Rank #3 (Hold).
CVR Energy is an independent refiner and marketer of high value transportation fuels. Headquartered in Sugar Land, TX, CVI has 1,470 employees. It is also engaged in nitrogen fertilizer manufacturing business through its interest in CVR Partners, LP.
Evolution Petroleum is an independent energy company. It was formed to acquire and develop oil and gas fields and apply both conventional and specialized technology to accelerate production, particularly in low-permeability reservoirs. EPM has witnessed an upward earnings estimate revision for 2024 in the past 60 days.
Global Partners is a Delaware limited partnership formed by affiliates of the Slifka family. The partnership owns, controls or has access to one of the largest terminal networks of refined petroleum products in New England. GLP is one of the largest wholesale distributors of distillates. It has witnessed an upward earnings estimate revision for 2023 and 2024 in the past 30 days.
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Kinder Morgan's (KMI) Tennessee Pipeline Declares Force Majeure
Kinder Morgan’s (KMI - Free Report) unit Tennessee Gas Pipeline declared force majeure on a portion of its pipeline close to Centerville in Hickman County, following an explosion and fire caused by an equipment failure at a compressor station.
Around 200 people who were within a mile of the facility were reportedly evacuated by the Hickman County Sheriff's Office. According to the company, the fire was put out and there were no casualties. While the investigation into the cause of the explosion is ongoing, the evacuation order has been withdrawn and Highway 48 has been reopened. Flows for previously scheduled nominations are not affected, although further gas supply through the segment is at risk, per media reports.
The Tennessee Pipeline is an interstate natural gas pipeline system that transports gas to the Northeast, Midwest and Southeast U.S. from basins between Texas and Alabama. It does so via 11,900 miles of pipeline.
According to Kinder Morgan, a safety assessment is underway and will conduct cleanup activities and develop a repair plan once it is safe to access the site.
Zacks Rank & Key Picks
Kinder Morgan currently holds a Zacks Rank #3 (Hold).
Some better-ranked stocks in the energy space are CVR Energy Inc. (CVI - Free Report) , Evolution Petroleum Corporation (EPM - Free Report) and Global Partners LP (GLP - Free Report) . While CVI sports a Zacks Rank #1 (Strong Buy), both EPM and GLP carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
CVR Energy is an independent refiner and marketer of high value transportation fuels. Headquartered in Sugar Land, TX, CVI has 1,470 employees. It is also engaged in nitrogen fertilizer manufacturing business through its interest in CVR Partners, LP.
Evolution Petroleum is an independent energy company. It was formed to acquire and develop oil and gas fields and apply both conventional and specialized technology to accelerate production, particularly in low-permeability reservoirs. EPM has witnessed an upward earnings estimate revision for 2024 in the past 60 days.
Global Partners is a Delaware limited partnership formed by affiliates of the Slifka family. The partnership owns, controls or has access to one of the largest terminal networks of refined petroleum products in New England. GLP is one of the largest wholesale distributors of distillates. It has witnessed an upward earnings estimate revision for 2023 and 2024 in the past 30 days.