NGL Energy Partners LP Announces Second Open Season for Grand Mesa Pipeline Starting Thursday, July 7, 2016
NGL Energy Partners LP (NYSE: NGL) (“Partnership” or “NGL”),
as previously communicated, is pleased to announce that due to
additional shipper interest a second binding open season will start
today, Thursday, July 7, 2016 at 8:00 am Central Daylight Time for its
wholly owned Grand Mesa Pipeline, LLC (“Grand Mesa”) crude oil
pipeline. This open season will close on Thursday, July 28, 2016 at 5:00
pm Central Daylight Time.
Potential shippers will have access to the open season documents upon
execution of a confidentiality agreement with Grand Mesa. The
Confidentiality Agreement can be obtained by accessing the website: WWW.GRANDMESAPIPELINE.COM.
The Grand Mesa pipeline will provide takeaway capacity for crude oil
producers in the Denver-Julesburg Basin. The pipeline is expected to be
in operation November 2016. It originates in Weld County, Colorado and
extends approximately 550 miles southeast to NGL’s crude oil storage
terminal at Cushing, Oklahoma. The pipeline will be capable of receiving
and batch transporting 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.
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 more 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 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160707005323/en/
Copyright Business Wire 2016
Source: Business Wire
(July 7, 2016 - 6:45 AM EDT)
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