The acquisition has a total purchase price of approximately $US3 billion, including the assumption of debt.

Hiland’s assets consist of crude oil gathering and transportation pipelines and gas gathering and processing systems, primarily serving production from the Bakken Formation in North Dakota and Montana, United States.

Kinder Morgan said the transaction creates a premier midstream platform for Kinder Morgan in the Bakken, with a significant amount of acreage dedicated under long-term gathering agreements. Hiland’s customers include Continental Resources, Oasis Petroleum, XTO Energy, Whiting Pe...