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• Inergy sells US Salt for $192.5M — but it doesn’t go far

  Inergy LP has sold US Salt LLC to subsidiary Inergy Midstream LP for $192.5 million, the companies said Monday. New York-based US Salt mines for salt, leaving caverns that can be used to store natural gas. Inergy purchased the company for an undisclosed amount in 2008. The latest deal, consisting of $182.5 million in cash and $10 million in Inergy Midstream units, is the first “drop-down” of Inergy businesses into Inergy Midstream (NYSE: NRGM), which had a $252 million initial public offering... Posted Monday, May 14, 2012 11:33 AM from Kansas City Business News - Local Kansas City News | Kansas City Business Journal | 0 Comments Filed under: NRGM

• Inergy Midstream heats up profits in first report after public offering

  Inergy Midstream LP posted a double-digit profit increase Thursday in the first financial report since its initial public offering in December. For its second quarter, which ended March 31, the subsidiary of Kansas City-based Inergy LP (NYSE: NRGY) reported net income of $13.4 million, up 44 percent from $9.3 million in the second quarter of 2011. That equals 18 cents a unit. A year-ago comparison to per-unit income isn’t available because Inergy Midstream (NYSE: NRGM) was not public then. However,... Posted Thursday, May 03, 2012 10:39 AM from Kansas City Business News - Local Kansas City News | Kansas City Business Journal | 0 Comments Filed under: NRGY, NRGM