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Kinder Morgan and EagleClaw Announce Final Investment Decision on Permian Highway Pipeline Project

Definitive Agreements signed by JV Partners; Project capacity
nearly fully subscribed

HOUSTON–(BUSINESS WIRE)–$KMI #KinderMorgan–Kinder Morgan Texas Pipeline LLC (KMTP), a subsidiary of Kinder Morgan,
Inc. (NYSE: KMI), and EagleClaw Midstream Ventures, LLC (EagleClaw), a
portfolio company of Blackstone Energy Partners, today announced a final
investment decision to proceed with the Permian Highway Pipeline Project
(PHP Project) after having executed definitive joint venture agreements
and having secured sufficient firm transportation agreements with
shippers. Nearly all capacity available on the system is subscribed and
committed under long-term, binding transportation agreements. The
remaining capacity is expected to be awarded shortly.

Shippers that have committed to the project include EagleClaw, Apache
Corporation (Apache), and XTO Energy Inc., a subsidiary of Exxon Mobil
Corporation, amongst others. As previously announced, KMTP and EagleClaw
will be the initial partners, each with a 50 percent ownership interest
in the project. KMTP will build and operate the pipeline. Apache will
have the option to acquire equity from the initial partners and has
announced its intent to assign that option to Altus Midstream, a new
company announced by Apache and Kayne Anderson Acquisition Corp.
(NASDAQ: KAAC) on Aug. 8, 2018. KMI’s and EagleClaw’s ultimate ownership
interest may vary between approximately 27 percent and 50 percent,
depending on the outcome of ownership options held by anchor shippers.

The approximately $2 billion PHP Project will provide an outlet for
increased natural gas production from the Permian Basin to growing
market areas along the Texas Gulf Coast and is designed to transport up
to 2 billion cubic feet per day (Bcf/d) of natural gas through
approximately 430 miles of 42-inch pipeline from the Waha to Katy,
Texas, areas, with connections to the U.S. Gulf Coast and Mexico
markets. The PHP Project is expected to be in service in late 2020,
assuming timely receipt of the requisite regulatory approvals.

“We are very pleased to have reached this important milestone and to
have secured the commitments required for all parties to proceed,” said
Sital Mody, President of Kinder Morgan Natural Gas Midstream. “With a
route identified and the project nearly fully subscribed, we expect to
begin stakeholder outreach, environmental surveys and right-of-way
activities in the coming months.”

“With the continued growth in drilling activity in the Permian Basin,
this project will help to provide key infrastructure for producers to
move natural gas to the best premium markets along the Gulf Coast and
South Texas,” said Jamie Welch, President and Chief Financial Officer of
EagleClaw.

David Foley, Chief Executive Officer of Blackstone Energy Partners,
added, “We are delighted to partner with Kinder Morgan and Apache to
support a project that will meet the growing infrastructure needs of
Permian Basin producers, support the continued growth of the U.S.
economy and create jobs for American workers.”

“We are excited to see the Permian Highway Pipeline move forward. This
is a tremendous project with strong partners that will provide us with
additional access to key natural gas markets,” said Brian Freed, Senior
Vice President, Midstream and Marketing at Apache.

About Kinder Morgan, Inc.

Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy
infrastructure companies in North America. We own an interest in or
operate approximately 84,000 miles of pipelines and 152 terminals. Our
pipelines transport natural gas, refined petroleum products, crude oil,
condensate, CO2 and other products, and our terminals
transload and store liquid commodities including petroleum products,
ethanol and chemicals, and bulk products, including petroleum coke,
metals and ores. For more information please visit www.kindermorgan.com.

About EagleClaw Midstream Ventures, LLC

EagleClaw Midstream Ventures, LLC is focused on rapid response to the
midstream infrastructure requirements of Permian producers. EagleClaw
just announced the pending acquisition of Caprock Midstream, another
private gathering and processing company, for approximately $1 billion.
EagleClaw provides gathering, processing, and disposal services for
natural gas, crude oil, and produced water to producers in the Delaware
Basin. Pro forma for the Caprock closing, EagleClaw will operate close
to 850 miles of natural gas, natural gas liquids, crude and water
gathering pipelines; 1.3 billion cubic feet per day of processing
capacity; and crude and water storage facilities, with over 425,000
acres under long-term dedication for midstream services from a large
number of successful and active producers in the Delaware Basin. For
more information, please visit www.eagleclawmidstream.com.

About Blackstone

Blackstone Energy Partners is Blackstone's energy-focused private equity
business, with a successful record built on our industry expertise and
partnerships with exceptional management teams. Blackstone has invested
over $15 billion of private equity globally across a broad range of
sectors within the energy industry. Blackstone (NYSE: BX) is one of the
world's leading investment firms. Our asset management businesses, with
over $440 billion in assets under management, include investment
vehicles focused on private equity, real estate, public debt and equity,
non-investment grade credit, real assets and secondary funds, all on a
global basis. Further information is available at www.blackstone.com.

About Apache Corporation

Apache Corporation is an oil and gas exploration and production company
with operations in the United States, Egypt and the United Kingdom.
Apache posts announcements, operational updates, investor information
and copies of all press releases on its website, www.apachecorp.com,
and on its Media and Investor Center mobile application, which is
available for free download from the Apple App Store and the Google Play
store.

Important Information Relating to Kinder
Morgan’s Forward-Looking Statements

This news release includes forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995 and
Section 21E of the Securities and Exchange Act of 1934. Generally the
words “expects,” “believes,” “anticipates,” “plans,” “will,” “shall,”
“estimates,” and similar expressions identify forward-looking
statements, which are generally not historical in nature.
Forward-looking statements are subject to risks and uncertainties and
are based on the beliefs and assumptions of management, based on
information currently available to them. Although Kinder Morgan believes
that these forward-looking statements are based on reasonable
assumptions, it can give no assurance that any such forward-looking
statements will materialize. Important factors that could cause actual
results to differ materially from those expressed in or implied from
these forward-looking statements include the risks and uncertainties
described in Kinder Morgan’s reports filed with the Securities and
Exchange Commission, including its Annual Report on Form 10-K for the
year-ended December 31, 2017 (under the headings “Risk Factors” and
“Information Regarding Forward-Looking Statements” and elsewhere) and
its subsequent reports, which are available through the SEC’s EDGAR
system at www.sec.gov
and on our website at ir.kindermorgan.com.
Forward-looking statements speak only as of the date they were made, and
except to the extent required by law, KMI undertakes no obligation to
update any forward-looking statement because of new information, future
events or other factors. Because of these risks and uncertainties,
readers should not place undue reliance on these forward-looking
statements.

Important Information Relating to Apache’s
Forward-Looking Statements

This press release includes forward-looking statements. Except for
the historical information contained herein, the matters discussed in
this press release are forward-looking statements that involve certain
risks and uncertainties, such as Apache’s expectations regarding future
results, capital expenditures, project completions, liquidity and
financial market conditions. These risks and uncertainties include,
among other things, insufficient cash from operations, adverse market
conditions, governmental regulations and other factors discussed in
Apache’s filings with the U.S. Securities and Exchange Commission. If
any of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results or outcomes may vary
materially from those expected. Apache disclaims any intention or
obligation to update publicly or reverse such statements, whether as a
result of new information, future events or otherwise.

Contacts

KMI Media Relations
Melissa Ruiz, (713) 420-6397
[email protected]
or
KMI
Investor Relations
(713) 369-9490
[email protected]
www.kindermorgan.com
or
EagleClaw
Jamie
Welch, (713) 621-7300
[email protected]
or
Blackstone
Media Relations
Paula Chirhart, (212) 583-5011
[email protected]
or
Apache
Media Relations
Phil West, (713) 296-6223
[email protected]
or
Apache
Investor Relations
Gary Clark, (713) 296-6472
[email protected]