Kinder Morgan Pays $855M For Joint Venture, Other Assets

Law360, New York (May 5, 2011, 12:26 PM EDT) -- Petrohawk Energy Corp. said Thursday it would sell to Kinder Morgan Energy Partners LP its 50 percent interest in their natural gas joint venture and its 25 percent interest in another natural gas business for $855 million, fulfilling its 2011 divestiture goal.

The deal, which also calls for Houston-based Kinder Morgan to take on about $65 million in debt, will bring Petrohawk's total proceeds from asset sales this year to about $1 billion when combined with the $75 million in proceeds Petrohawk picked up earlier this...
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