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Kinder Morgan said Wednesday it plans to pare back its capital spending after a $1.2 billion impairment pushed the company into a fourth-quarter 2015 loss.
Some of the most notable changes were at Houston-based companies.
The new Kinder Morgan is a safer, more financially conservative company than it was last week.
Kinder Morgan said Wednesday it will move away from selling equity to raise money, as the low share prices have made financing new projects through stock sales more expensive.
The new reality of oil, was the biggest topic, and the executives who took the stage focused on detailing how their companies would survive.
Kinder said in an interview that oil and gas leaders hadn’t done enough to show how important the industry is
Day Three of the annual conference shifts to natural gas, and will feature speakers like Charif Souki, CEO of Cheniere Energy, which is building a pair of massive natural gas exports terminals in Texas.
Kinder Morgan’s board said it would raise the dividend to 48 cents per share, up 14 percent from the prior year’s Q1 payout of 42 cents per share.
Bakken shale billionaire Harold Hamm and Canadian gas giant Encana Corp. are among the latest to peddle some of their most valuable assets and steadiest earners.
Souki’s $142 million in compensation for his role in 2013 – mostly on paper, in stock grants – drew raised eyebrows from investors this year.