Account Login/Registration

Access KamloopsBCNow using your Facebook account, or by entering your information below.


Facebook


OR


Register

Privacy Policy

Kinder Morgan posts massive Q3 income thanks to Trans Mountain sale

Kinder Morgan Canada Ltd. is rolling in the dough after its August sale of the Trans Mountain pipeline.

The company posted its third-quarter financial numbers today and it’s reporting an income of $1.35 billion.

Of that, $1.308 billion is from the sale of its Trans Mountain pipeline and expansion project to the Government of Canada.

\

That number is the final tally, net of tax, from the $4.5 billion deal that was finalized on Aug. 31.

Kinder Morgan Canada also reports it had a third-quarter income from continuing operations of $22.2 million, up from $9.8 million in the third-quarter of 2017.

The company’s quarterly revenue was $94.3 million, up from $85.9 million in the same period last year.

Kinder Morgan Canada still has a number of valuable assets in Western Canada beyond the Trans Mountain Pipeline.

That includes a network of crude tank storage and rail terminals in Alberta, the Vancouver Wharves Terminal and the Cochin Pipeline system, which transports light oil from the U.S. to Edmonton.

The energy infrastructure company trades on the Toronto Stock Exchange and is 70% owned by Houston-based Kinder Morgan Inc.

With files from the Canadian Press.



Send your comments, news tips, typos, letter to the editor, photos and videos to [email protected].



Weather
webcam icon

weather-icon
Fri
13℃

weather-icon
Sat
13℃

weather-icon
Sun
17℃

weather-icon
Mon
18℃

weather-icon
Tue
20℃

weather-icon
Wed
13℃
current feed webcam icon

Top Stories

Follow Us

Follow us on Instagram Follow us on Twitter Like us on Facebook Follow us on Linkedin
Follow Our Newsletter
Privacy Policy