Kinder Morgan (KMI) Leverages Carbon Credits in Texas Oilfield
KMIKinder Morgan(KMI) zacks.com·2024-05-23 20:11

Kinder Morgan (KMI) has strategically acquired oil and gas-producing assets in the Permian Basin for approximately $100 million, per a report by Reuters on Wednesday. This acquisition includes 265 wells located in a mature area of the Texas oilfield and 11,600 acres of land. These assets, first developed in the 1920s, currently produce around 1,100 barrels of oil per day. Kinder Morgan plans to leverage these assets to boost production using U.S. carbon capture incentives.Focus on Carbon Capture IncentivesT ...