TULSA, Okla.--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE: NGL) announced today that it has acquired two salt water disposal facilities from WaterWorks Corral Creek, LLC, and Saltwater Disposal Systems, LLC, respectively for a total cost of $34.6 million in cash.
The acquisition, which includes 13 employees, represents NGL Water Solutions’ entrance into the Bakken shale play in North Dakota. These high quality, high volume facilities located in McKenzie and Dunn Counties bring NGL’s total treatment and disposal capacity throughout the US to approximately 800,000 barrels per day.
“NGL Water Solutions has evaluated opportunities to enter the Bakken shale play for some time. With the addition of the WaterWorks and Saltwater Disposal Systems assets, NGL is pleased to enter this market with high quality assets and employees. We look forward to establishing NGL Water Solutions in the Bakken, as well as identifying opportunities to expand our footprint and apply our extensive technical expertise in water treatment,” said Jim Burke, President.
About NGL Energy Partners LP
NGL Energy Partners LP is a Delaware limited partnership. NGL owns and operates a vertically integrated energy business with five primary businesses: water solutions, crude oil logistics, NGL logistics, refined products/renewables, and retail propane. For further information, visit the Partnership’s website at www.nglenergypartners.com.
This press release includes “forward-looking statements.” All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Actual results could vary significantly from those expressed or implied in such statements and are subject to a number of risks and uncertainties. While NGL believes its expectations as reflected in the forward-looking statements are reasonable, NGL can give no assurance that such expectations will prove to be correct. The forward-looking statements involve risks and uncertainties that affect operations, financial performance, and other factors as discussed in filings with the Securities and Exchange Commission. Other factors that could impact any forward-looking statements are those risks described in NGL’s annual report on Form 10-K, quarterly reports on Form 10-Q, and other public filings. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, specifically those under the heading “Risk Factors.” NGL undertakes no obligation to publicly update or revise any forward-looking statements except as required by law.