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Slide #32. NGL Energy Partners LP — Oilfield Water Lines LP
NGL Energy Partners LP (NYSE:NGL)
Oilfield Water Lines LP
NGL Energy Partners LP (NYSE:NGL) announced today that it has acquired the water disposal and hauling business of Oilfield Water Lines LP ("OWL"), a partnership with High Roller Wells and the Mark Cuban Companies for 2,463,287 common units and $168 million in cash, plus net working capital. The acquisition expands NGL's water services business by adding four high capacity, strategically located, oil and gas water disposal facilities to its portfolio of water treatment and gathering infrastructure. The acquisition brings a successful operating team to NGL's water services business and approximately 90,000 barrels per day of additional disposal capacity in the growing Eagle Ford Shale in South Texas, a major US oil producing region.
NGL Energy Partners transports, stores, markets and provides other logistics services for crude oil, natural gas liquids and refined petroleum products. Co.'s crude oil logistics segment purchases crude oil from producers and marketers and transports it to refineries or for resale. Co.'s water solutions segment transports, treats, recycles and disposes of produced and flowback water generated from crude oil and natural gas production. Co.'s liquids and refined products segment conducts marketing operations for natural gas liquids, refined petroleum products and biodiesel to a range of commercial, retail and industrial customers across the United States and Canada.
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Hold (1.50 out of 4)