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Kinder Morgan's Utopia Pipeline Commences Ethane Delivery
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Kinder Morgan, Inc.’s (KMI - Free Report) $500-million Utopia Pipeline project has commenced operations with the product delivery of ethane from Harrison County, OH to Windsor, Ontario, Canada.
The 270-miles pipeline system has an initial capacity of 50,000 barrels per day (bpd) that can eventually be expanded to more than 75,000 bpd on construction of additional pump stations. The project is supported by a long-term, fee-based transportation agreement with a petrochemical customer.
The new pipeline will connect with and use existing Kinder Morgan pipeline and facilities to transport ethane and ethane-propane mixtures eastward to Windsor, Ontario.
Initially, these ethane and ethane-propane mixtures are intended to be used mainly as a feedstock for producing plastics for containers, bottles, home rugs and automotive parts. These products will mainly be distributed to producers, businesses and domestic households throughout the larger Great Lakes region.
The Utopia Pipeline Project will help meet the increasing demand for Ohio’s Utica Shale energy by delivering refined or fractionated products to Kinder Morgan’s customers safely.
Kinder Morgan —– headquartered in Houston, TX — has the largest network of natural gas pipeline in North America that spreads over almost 70,000 miles. Most importantly, the company’s midstream properties are linked to all the prospective plays in the United States that are rich in natural gas.
However, the company’s shares have lost 4.3% in the last six months, underperforming the industry’s1.3% decline.
Zacks Rank & Key Picks
As a result, Kinder Morgan has a Zacks Rank #3 (Hold). A few better-ranked players in the energy sector are Statoil ASA , Pioneer Natural Resources Company (PXD - Free Report) and Royal Dutch Shell plc . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Statoil, based in Norway, is a major international integrated oil and gas company. It reported an average negative earnings surprise of 8.44% in the last four quarters.
Headquartered at Irving, TX, Pioneer Natural Resources Company is an independent oil and gas exploration and production company. The company delivered an average positive earnings surprise of 67.62% over the preceding four quarters.
The Netherlands-based Royal Dutch Shell is an integrated oil and gas company. The company posted a positive earnings surprise of 18.07 % in the preceding quarter.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Kinder Morgan's Utopia Pipeline Commences Ethane Delivery
Kinder Morgan, Inc.’s (KMI - Free Report) $500-million Utopia Pipeline project has commenced operations with the product delivery of ethane from Harrison County, OH to Windsor, Ontario, Canada.
The 270-miles pipeline system has an initial capacity of 50,000 barrels per day (bpd) that can eventually be expanded to more than 75,000 bpd on construction of additional pump stations. The project is supported by a long-term, fee-based transportation agreement with a petrochemical customer.
The new pipeline will connect with and use existing Kinder Morgan pipeline and facilities to transport ethane and ethane-propane mixtures eastward to Windsor, Ontario.
Initially, these ethane and ethane-propane mixtures are intended to be used mainly as a feedstock for producing plastics for containers, bottles, home rugs and automotive parts. These products will mainly be distributed to producers, businesses and domestic households throughout the larger Great Lakes region.
The Utopia Pipeline Project will help meet the increasing demand for Ohio’s Utica Shale energy by delivering refined or fractionated products to Kinder Morgan’s customers safely.
Kinder Morgan —– headquartered in Houston, TX — has the largest network of natural gas pipeline in North America that spreads over almost 70,000 miles. Most importantly, the company’s midstream properties are linked to all the prospective plays in the United States that are rich in natural gas.
However, the company’s shares have lost 4.3% in the last six months, underperforming the industry’s1.3% decline.
Zacks Rank & Key Picks
As a result, Kinder Morgan has a Zacks Rank #3 (Hold). A few better-ranked players in the energy sector are Statoil ASA , Pioneer Natural Resources Company (PXD - Free Report) and Royal Dutch Shell plc . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Statoil, based in Norway, is a major international integrated oil and gas company. It reported an average negative earnings surprise of 8.44% in the last four quarters.
Headquartered at Irving, TX, Pioneer Natural Resources Company is an independent oil and gas exploration and production company. The company delivered an average positive earnings surprise of 67.62% over the preceding four quarters.
The Netherlands-based Royal Dutch Shell is an integrated oil and gas company. The company posted a positive earnings surprise of 18.07 % in the preceding quarter.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>