HOUSTON, March 31, 2022 /PRNewswire/ -- Today, Ruby Pipeline, L.L.C. (Ruby), a natural gas pipeline joint venture between Kinder Morgan, Inc. (NYSE: KMI) and Pembina Pipeline Corporation (NYSE: PBA) that extends from Wyoming to Oregon, filed to reorganize under chapter 11 of the Bankruptcy Code in response to an upcoming debt repayment obligation. In recent months, the joint venture owners have been working diligently with Ruby's bondholders in an effort to work out a mutually satisfactory resolution. While those efforts will continue, Ruby's current financial condition necessitates this filing.
KMI will continue to operate the pipeline as chapter 11 permits daily operations to continue. Ruby's customers should notice no difference in its operations.
We will continue to keep Ruby's customers and other stakeholders informed of developments relating to Ruby's reorganization process. The voluntary petition was filed in the United States Bankruptcy Court for the District of Delaware in Wilmington. The case number is 22-10278. Additional information regarding Ruby's petition and claim procedures is available through the following website: https://cases.primeclerk.com/rubypipeline.
Important Information Relating to Forward-Looking Statements
This news release includes forward-looking statements. Generally the words "expects," "believes," anticipates," "plans," "will," "shall," "estimates," and similar expressions identify forward-looking statements, which are not historical in nature. Forward-looking statements in this news release include express or implied statements concerning the anticipated operations of Ruby and potential continued negotiations with Ruby's bondholders. 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 Ruby believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance as to when or if any such forward-looking statements will materialize or their ultimate impact on Ruby's operations or financial condition.
Media Contact:
RubyTeam@Primeclerk.com
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SOURCE Ruby Pipeline, L.L.C.
