Grand Mesa Pipeline, LLC Announces Anticipated Open Season for Second Quarter 2016
Grand Mesa Pipeline, LLC (“Grand Mesa”), a subsidiary of NGL Energy
Partners LP (NYSE: NGL), will be conducting an additional open season
for its 20-inch pipeline that originates at Lucerne / Riverside,
Colorado, and will deliver at least two grades of crude oil from the DJ
Basin into NGL’s facilities at Cushing, Oklahoma. Grand Mesa expects the
open season to commence in the second calendar quarter of 2016.
Grand Mesa is on target to commence service in the fourth quarter of
2016, and will have a capacity of 150,000 barrels per day. This pipeline
will provide critical takeaway capacity for crude oil producers in the
Denver-Julesburg Basin. 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.
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: crude oil logistics, water solutions, liquids, retail
propane and refined products and renewables. For further information
visit NGL’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 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 filings with the
Securities and Exchange Commission. 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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Copyright Business Wire 2016
Source: Business Wire
(January 11, 2016 - 7:25 AM EST)
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