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Kinder Morgan's (KMI) Compressor Station Likely Shut Until October
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Kinder Morgan (KMI - Free Report) updated that the Centerville compressor station in Tennessee will likely remain shut and won't resume operations until October, per media reports.
The update corresponds to the force majeure declaration made last week by KMI’sunit Tennessee Gas Pipeline 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. The fire was put out and no casualties were reported.
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 a company spokesperson, the pipeline is still in service even though the impacted compressor station has been shut down. Cleanup activities and an investigation into the cause of the incident are underway, per the company.
Kinder Morganis currently developing a repair plan, and does not expect the compressor station to be back in service until Oct 1, 2023.
Zacks Rank & Key Picks
Kinder Morgan currently carries a Zacks Rank #3 (Hold).
USA Compression Partners is one of the largest independent natural gas compression service providers across the United States in terms of fleet horsepower. USAC has witnessed an upward earnings estimate revision for 2023 and 2024 in the past 30 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.
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.
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Kinder Morgan's (KMI) Compressor Station Likely Shut Until October
Kinder Morgan (KMI - Free Report) updated that the Centerville compressor station in Tennessee will likely remain shut and won't resume operations until October, per media reports.
The update corresponds to the force majeure declaration made last week by KMI’sunit Tennessee Gas Pipeline 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. The fire was put out and no casualties were reported.
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 a company spokesperson, the pipeline is still in service even though the impacted compressor station has been shut down. Cleanup activities and an investigation into the cause of the incident are underway, per the company.
Kinder Morganis currently developing a repair plan, and does not expect the compressor station to be back in service until Oct 1, 2023.
Zacks Rank & Key Picks
Kinder Morgan currently carries a Zacks Rank #3 (Hold).
Some better-ranked players in the energy sector are USA Compression Partners, LP (USAC - Free Report) , currently sporting a Zacks Rank #1 (Strong Buy), and Global Partners (GLP - Free Report) and Evolution Petroleum Corporation (EPM - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
USA Compression Partners is one of the largest independent natural gas compression service providers across the United States in terms of fleet horsepower. USAC has witnessed an upward earnings estimate revision for 2023 and 2024 in the past 30 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.
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.