GMX Resources Inc. (GMXR) recently agreed to sell a 40% interest in its gas gathering and compression business to Kinder Morgan Energy Partners L.P. (KMP) for $36 million. The closing of the transaction is subject to customary closing conditions and is expected to conclude in early November. This transaction will fund GMX’s addition of a second rig to the Haynesville/Bossier Shale horizontal drilling program. The salt water disposal assets and other poly pipelines will not be part of the transaction and will continue to be wholly owned by Endeavor Pipeline Inc., a wholly owned subsidiary of GMX Resources. The gas gathering and compression business provides gathering services to the company in its Cotton Valley Sands and Haynesville/Bossier Shale horizontal developments in East Texas. It will provide funding for future infrastructure needs to support GMX's anticipated production growth. Separately, GMX said its second FlexRig 3 ...