NGL Energy Partners LP Announces 2021 Open Season for Grand Mesa Pipeline Starting July 9, 2021
July 09 2021 - 6:35AM
Business Wire
NGL Energy Partners LP (NYSE: NGL) (“Partnership” or “NGL”) is
pleased to announce that a binding open season will start today,
July 9, 2021 at 8:00 am Central Daylight Time for its wholly owned
affiliate Grand Mesa Pipeline, LLC’s (“Grand Mesa”) crude oil
pipeline. This open season will close on August 9, 2021 at 5:00 pm
Central Daylight Time.
Grand Mesa provides takeaway capacity for crude oil producers in
the Denver-Julesburg Basin. It originates in Weld County, Colorado
and extends approximately 550 miles southeast to NGL Crude Cushing,
LLC’s storage terminal at Cushing, Oklahoma. The pipeline is
capable of receiving and batch transporting up to 150,000 barrels
per day for delivery into the Cushing hub, which affords its
shippers access to both U.S. Midcontinent refining and trading
markets as well as the Texas Gulf Coast refinery complex. The
pipeline not only supports the continued growth and production in
the area, but does so in a cost-effective and environmentally
responsible way by reducing the current utilization of rail and
truck transportation.
In 2016, NGL held an open season seeking commitments from
shippers interested in shipping on Grand Mesa’s pipeline system. In
response to the 2016 open season, Grand Mesa signed transportation
service agreements with multiple shippers. Due to recent shipper
bankruptcies and related contract terminations, committed capacity
on Grand Mesa’s system has become available again. Accordingly, NGL
is holding the current open season to re-contract available
capacity on the Grand Mesa pipeline. The transportation services
under this open season process are being offered pursuant to terms
and conditions that are substantially similar to those applicable
to the committed shippers that signed transportation service
agreements in the 2016 open season, as specified in the open season
documents.
Potential shippers will have access to the open season documents
upon execution of a confidentiality agreement with Grand Mesa. The
Confidentiality Agreement, and open season documents, can be
obtained by contacting one of the contacts listed below.
About NGL Energy Partners LP
NGL Energy Partners LP, a Delaware limited partnership is a
diversified midstream energy company that transports, stores,
markets and provides other logistic services for crude oil, natural
gas liquids and other products and transports, treats and disposes
of produced water generated as part of the oil and natural gas
production process. For further information visit the Partnership’s
website at www.nglenergypartners.com.
Forward Looking Statements
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 such forward-looking statements
are reasonable, NGL cannot assure they 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210709005033/en/
Contacts For Open Season NGL Energy Partners LP Derek Graham VP
Business Development – Crude Assets 713-496-3904
derek.graham@nglep.com or Carl Peterson VP Business Development
713-496-3955 carl.peterson@nglep.com General Contact NGL Energy
Partners LP Trey Karlovich, 918-481-1119 Chief Financial Officer
and Executive Vice President trey.karlovich@nglep.com
NGL Energy Partners (NYSE:NGL)
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