I don't think the price of oil/gas has anything to do with a pipeline company's profits. Whether the price goes up, down or sideways, the pipeline company still gets paid to haul the hydrocarbon from point A to B for a fixed sum of money generally negotiated ahead of any downturn in the price of the hydrocarbons, unless you know of a contract where the carriage charge is tied to the price of the commodity by the third party?
I also own SDRL. It will make a lot of money in the coming years. Oil demand is going no where nut up with India and China growing their middle class. If you want KMP, why not go with KMI? Far more growth and potential to be bought out by KMP.
Be careful with oil related stocks right now as I feel the issues in Libya could drive the prices lower. I do agree they will all be higher by years end but could get a better entry point in near future.