NGL Energy Partners LP Announces Completion of South Pecos Saltwater Disposal Assets Sale
February 28 2019 - 5:52PM
Business Wire
NGL Energy Partners LP (NYSE:NGL) (“NGL” or the “Partnership”)
today announced that it has closed the previously announced
transaction to sell its South Pecos Water Disposal Assets to a
subsidiary of WaterBridge Resources LLC (“WaterBridge”) for $238.8
million in cash proceeds at closing. NGL will use a portion of the
proceeds from the sale to fund its previously announced acquisition
of DCP Midstream, LP’s wholesale propane business and will use the
remaining proceeds to partially fund the redemption of its 5.125%
Senior Notes due 2019, which is expected to close on March 15,
2019.
Forward-Looking Statements
Certain matters contained in this Press Release include
"forward-looking statements." All statements, other than statements
of historical fact, included in this Press Release may constitute
forward-looking statements. Although we believe that the
expectations reflected in these forward-looking statements are
reasonable, we cannot assure you that these expectations will prove
to be correct. These forward-looking statements are subject to
certain known and unknown risks and uncertainties, as well as
assumptions that could cause actual results to differ materially
from those reflected in these forward-looking statements. Factors
that might cause actual results to differ include, but are not
limited to, the risk factors discussed from time to time in each of
our documents and reports filed with the SEC.
Readers are cautioned not to place undue reliance on any
forward-looking statements contained in this Press Release, which
reflect management's opinions only as of the date hereof. Except as
required by law, we undertake no obligation to revise or publicly
release the results of any revision to any forward-looking
statements.
About NGL Energy Partners LP
NGL Energy Partners LP is a Delaware limited
partnership. NGL owns and operates a vertically integrated energy
business with four primary businesses: water solutions, crude oil
logistics, NGL logistics and refined products/renewables. For
further information, visit the Partnership's website
at www.nglenergypartners.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190228006071/en/
Trey Karlovich 918-481-1119Executive Vice President and Chief
Financial Officertrey.karlovich@nglep.comorLinda Bridges
918-481-1119Senior Vice President – Finance and
Treasurerlinda.bridges@nglep.com
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