4 Energy Stock Stories To Kick Off the Trading Week
Kinder Morgan Energy Partners (NYSE: KMP): Closing price $83.90
On Monday, Kinder announced that it is beginning a new business of owning, leasing and purchasing natural resource reserves within its Terminals business segment so as to pursue non-operating investments in coal, together with other mineral reserve properties and infrastructure. Richard M. Whiting, who is a senior executive with over 35 years of experience in the coal industry, has come to KMP as president of Kinder Morgan Resources, which will own mineral reserve properties and other assets in North America. However, KMP will not actively mine coal or other natural resources, but it will lease properties it purchases to a number of operators in return for royalty payments, with the lessees of the properties dealing with any commodity price risk arising from with the operations, not KMP.