The oil and gas properties produce approximately 850 barrels of oil equivalent per day (BOE/D) net and include some fields with enhanced oil recovery (EOR)development potential near KMP's CO2 operations. During the next several months, Kinder Morgan CO2 Co. will perform technical evaluations to confirm the CO2 EOR potential. The KMP subsidiary will generate definitive plans to develop this potential if it proves to be economic.
price plus the anticipated investment to further develop this CO2 EOR
potential and a new CO2 supply pipeline is approximately $115 million, but the
total investment is likely to be considerably less because KMP plans to
divest some of the acquired properties in the near future because they are not
CO2 EOR candidates.
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