- Kinder Morgan, Inc. (NYSE:KMI) plans to expand the working gas storage capacity at its Markham Storage facility to provide electric service to over one million homes in Texas.
- The facility is located in Matagorda County along the Texas Gulf Coast.
- “We are pleased to increase our natural gas storage solutions to further support Texas customers, particularly during severe weather events,” said KMI Natural Gas Midstream President Tom Dender.
- This expansion will provide the much-needed capacity boost to supply gas-fired electric generation facilities within the Electric Reliability Council of Texas.
- Under the expansion program, Kinder Morgan has reached an agreement with Underground Services Markham, a Texas Brine Company LLC subsidiary.
- The agreement is for leasing an additional cavern at Markham to provide more than 6 billion cubic feet (Bcf) of incremental working gas storage capacity and 650 million cubic feet per day (MMcf/d) of incremental withdrawal capacity on KMI’s extensive Texas intrastate pipeline system.
- Price Action: KMI shares are trading flat at $16.11 on the last check Thursday.
Hormel Foods Predicts Earnings Impact From Lower Turkey Markets & Softness In China Business In H1: Details
Hormel Foods Corp (NYSE: HRL) reported a fourth-quarter FY23 sales decline of 2.6% year-on-year to $3.198 billion, missing the analyst consensus estimate of $3.264 billion.
Segment Sales: Retail sales declined 4%, Foodservice gained 2%, and International sales decreased 12%.
