Mid-day Market Movers: Kinder Morgan Inc (KMI), Transocean LTD (RIG)

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Kinder Morgan Inc (NYSE:KMI)

Stock’s Trading Stats:

Kinder Morgan Inc (NYSE:KMI) is trading up with a percentage change of 4.55% and is at $18.60 right now. The Company’s market capitalization stands at $41.18 Billion in the current trading Session whereas, its outstanding shares are 2.23 Billion.

Recent Press Release:

Kinder Morgan, Inc. (KMI) on April 5, 2016 declared that Kinder Morgan auxiliaries, Elba Liquefaction Company, L.L.C. and Southern LNG Company, L.L.C., awarded to IHI E&C a contract for the engineering, procurement, construction, commissioning and startup of Kinder Morgan’s natural gas liquefaction project at Elba Island, near Savannah, Georgia.

The about $2 billion Elba Liquefaction Project will comprise of 10 Movable Modular Liquefaction System (MMLS) trains using Shell proprietary technology.  The new units will connect to Kinder Morgan’s existing re-gasification terminal at Elba Island, which will be modified to receive liquefied natural gas (LNG) from the new liquefaction facilities.  Modifications to the existing Elba facilities will comprise compression for vapor handling and new pumps for loading the LNG on vessels for export.

From the outset, the companies share a commitment to establish and maintain a collaborative effort and an HSE (health, safety and the environment) mindset that fosters ZERO HARM for the workforce and the environment, built on continued HSE culture reinforcement.

The execution strategy comprises local subcontracting for site services, local hire for labor, utilization of local vendors for consumables, and working with local authorities on traffic and other community interests.  Proactive quality administration will encompass every aspect of the project, from EPC through to commissioning and start-up.

The project also will exemplify IHI E&C’s business model during the execution phase with a specific focus on value to the customer, partnership and performance.

Transocean LTD (NYSE:RIG)

Stock’s Trading Stats:

Transocean LTD (NYSE:RIG) is surging 6.31% percent and is at $9.43 in the Real-Time trading session. The stock’s market capitalization stands at $3.53 Billion with outstanding shares of 365.07 Million.

Recent Press Release:

Transocean Ltd. (RIG) together with its subsidiaries provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 11, 2016, it owned or had partial ownership interests in, and operated 61 mobile offshore drilling units that comprise of 28 ultra-deepwater floaters, 7 harsh environment floaters, 5 deepwater floaters, 11 midwater floaters, and 10 high-specification jackups. The company serves government-controlled oil companies and independent oil companies. Transocean Ltd. was founded in 1953 and is based in Vernier, Switzerland.