After KML’s IPO (initial public offering), Kinder Morgan retains ownership of nearly 70% of KML, with the remaining 30% owned by the public.
Kinder Morgan’s growth capital forecast for 2017 is ~$3.2 billion, including joint venture contributions.
According to the EIA, motor gasoline, distillate fuel oil, and jet fuel demand in 2017 is expected to increase modestly.
Liquids comprise nearly 81% of the Terminals segment’s 2017 budgeted earnings before depreciation and amortization.
KMI’s Natural Gas Pipelines segment’s gas gathering volumes fell from 3,540 BBtupd in 2015 to 2,970 BBtupd in 2016.
KMI believes that in addition to the increase in demand for natural gas transportation, there are strong drivers to increase gas storage demand.
Natural gas is KMI’s largest market and accounts for more than 50% of Kinder Morgan’s 2017 budgeted EBDA.
Kinder Morgan (KMI) is one of the largest energy infrastructure companies in the US. KMI owns an interest in or operates ~84,000 miles of pipelines and 155 terminals.
KMI’s CO2 segment produces, transports, and markets CO2 for use as a flooding medium for recovering crude oil from mature oil fields.
Noble Energy’s (NBL) 1Q17 EV-to-adjusted EBITDA (enterprise value to adjusted earnings before interest, tax, depreciation, and amortization) ratio was ~16x.
In this part of the series, we’ll take a look at Noble Energy’s (NBL) cash flows. In 1Q17, Noble reported cash flow from operations (or CFO) of $536 million.
According to a presentation released by Noble Energy (NBL) in June 2017, it has maintained a liquidity position of ~$5 billion since 2014.
Since 1Q15, Noble Energy’s (NBL) total debt has risen significantly. However, it has fallen since the peaks it saw between 3Q15 and 1Q16.
Noble Energy’s (NBL) net debt-to-EBITDA (earnings before interest, tax, depreciation, and amortization) rose steadily between 1Q15 and 1Q16.
Noble Energy (NBL) generated $245 million from its first dropdown to Noble Midstream Partners (NBLX) earlier in June 2017.
On February 23, 2017, Noble Energy (NBL) sanctioned the first phase of its Leviathan natural gas project offshore Israel.
Let’s take a look at Noble Energy’s (NBL) average drilling costs per foot in the DJ and Delaware Basins and the Eagle Ford Shale.
Crude oil represented 31% of Noble Energy’s total production in 1Q17. Crude oil’s share as a percentage of its total production fell between 4Q15 and 2Q16, but since then, it’s mostly risen.
As we’ve learned, Noble Energy’s (NBL) total US onshore volumes are expected to rise 10% year-over-year in 2017 after adjusting for the impact of 2016 divestments.
Noble Energy (NBL) owns 35,000 net acres in the Eagle Ford Shale, with 360 gross drilling locations and 460 MMboe (million barrels of oil equivalent) net unrisked resources.