Copano Energy LLC
| Public | |
| Traded as | NASDAQ:CPNO (closed) |
| ISIN | 🆔 |
| Industry | natural gas |
| Founded 📆 | |
| Founder 👔 | |
| Headquarters 🏙️ | Suite 2300, 1200 Smith Street Houston, Texas 77002, |
Area served 🗺️ | |
| Members | |
Number of employees | |
| 🌐 Website | Official Website after Acquisition |
| 📇 Address | |
| 📞 telephone | |
Copano Energy, L.L.C. is a public energy company, located in Texas, Oklahoma, Wyoming and Louisiana, that engages in the business of providing midstream services to natural gas producers, including gathering, transportation and processing of natural gas, fractionation and transportation of natural gas liquids and other relevant services.[1]
Operations[edit]
The company was acquired by Kinder Morgan Energy Partners LP (NYSE: KMP)in May 2013. [1] The transaction was valued at approximately $5 billion (including the assumption of debt) based on the closing price for Kinder Morgan's units on January 29, 2013.[2] In January, 2014, Kinder Morgan Energy Partners declared increasing its quarterly cash distribution per common unit to $1.36 ($5.44 annualized) payable on Feb 14, 2014.[3]
According to KMP’s Q4 2013 earnings report, driven by the acquisition of the Company as well as drop down assets that KMP acquired from parent company Kinder Morgan Inc in 2012, KMP's certain items rise by around 40% year-over-year to around $665 million.[4]
On August 5, 2013, the company announced that it and its wholly owned subsidiary Copano Energy Finance Corporation would redeem for cash $178,500,000 aggregate principal amount of their outstanding 7.125% Senior Notes due 2021.[5]
References[edit]
- ↑ 1.0 1.1 "Copano Energy L.L.C. Company Profile. Google Finance. 2014/1/26".
- ↑ "Copano Energy L.L.C. Company Profile. SEC Edgar. 2014/1/26".
- ↑ Finance
- ↑ "Trefis. January 17, 2014. KMP Earnings: Acquired Assets And Strong CO2 Business Drive Earnings".
- ↑ "Emily Mir. August 5 2013. Copano Energy, L.L.C. and Copano Energy Finance Corporation Announce Partial Redemption of 7.125% Senior Notes Due 2021. Business Wire".
External links[edit]
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