NGL Energy Partners LP Adds Additional Water Disposal Facilities in the Eagle Ford and Permian
TULSA, Okla.--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE: NGL) announced today that it has added five new salt water disposal facilities, which include a total of six recently completed disposal wells, for a cumulative cost of approximately $83 million. Annual EBITDA in the first year of operation is projected at $16 million. These high quality, high volume, strategically located facilities will increase capacity by 140,000 barrels per day, bringing NGL’s total treatment and disposal capacity to 600,000 barrels per day. The new facilities were recently drilled and completed under certain development agreements with partners and are located in both the Eagle Ford shale and Permian Basin. A substantial number of attractive growth opportunities involving new disposal wells, facilities, and water pipelines are also in process under these agreements.
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. NGL completed its initial public offering in May 2011. 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.