RUBY PIPELINE FILES TO BE REORGANIZED UNDER CHAPTER 11 OF THE BANKRUPTCY CODE
HOUSTON, March 31, 2022 /PRNewswire/ — Today, Ruby Pipeline, LLC (Ruby), a gas pipeline joint venture between Kinder MorganInc. (NYSE: KMI) and Pembina Pipeline Corporation (NYSE: PBA) which spans from Wyoming for Oregon, filed for reorganization under Chapter 11 of the Bankruptcy Code in response to an upcoming debt repayment obligation. Over the past few months, the joint venture owners have worked diligently with Ruby’s bondholders in an effort to find a mutually satisfactory solution. While these efforts continue, Ruby’s current financial situation necessitates this deposit.
KMI will continue to operate the pipeline as Chapter 11 allows day-to-day operations to continue. Ruby customers should notice no difference in its operations.
We will continue to keep Ruby customers and other stakeholders informed of developments related to Ruby’s reorganization process. The voluntary petition was filed in United States District Bankruptcy Court of Delaware in Wilmington. The file number is 22-10278. Additional information regarding Ruby’s petition and complaints procedures can be found at the following website: https://cases.primeclerk.com/rubypipeline.
Important Information Regarding Forward-Looking Statements
This press release contains forward-looking statements. Generally, the words “expects”, “believes”, “plans”, “plans”, “shall”, “shall”, “estimates” and similar expressions identify forward-looking statements, which are not historical nature. in this press release include express or implied statements regarding Ruby’s planned operations and potential continuation of negotiations with Ruby 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 Although Ruby believes that these forward-looking statements are based on reasonable assumptions, it cannot give no assurance as to when or whether such forward-looking statements will materialize or as to their ultimate impact on Ruby’s operations or financial condition.
SOURCE Ruby Pipeline, LLC