TULSA, Okla.--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE: NGL) announced today that it does not expect a material impact from yesterday’s revised policy statement by the Federal Energy Regulatory Commission (FERC) to disallow income tax allowance cost recovery in rates charged by pipeline companies organized as master limited partnerships (MLPs).
NGL owns Grand Mesa Pipeline, LLC (“Grand Mesa”), a FERC regulated interstate crude oil pipeline that operates from the DJ Basin in Weld County, Colorado with deliveries to Cushing, Oklahoma. FERC’s revised policy impacts cost-of-service rates on oil pipelines. Currently, the volumes of crude oil that are transported on Grand Mesa are subject to contractual agreements. Therefore, FERC’s revised policy will not impact Grand Mesa at the present time.
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.