NGL expands crude oil logistics, water services businesses

July 2, 2013 By    

NGL Energy Partners LP acquired the assets of Crescent Terminals LLC and the partnership interests of Cierra Marine LP. According to an NGL press release, the Cierra Marine acquisition adds four tow boats and seven crude oil barges to the company’s crude oil logistics business, doubling NGL’s current fleet of marine equipment. The terminal facility will add 130,000 barrels of storage capacity in the Eagle Ford shale in South Texas, as well as NGL’s ability to see through up to 20,000 barrels per day to Gulf Coast markets.

In addition, NGL acquired the assets of High Roller Wells Big Lake SWD No. 1. The Big Lake acquisition adds a high-capacity oil and gas water disposal facility to NGL’s water treatment and gathering infrastructure, according to a company press release.

Kevin Yanik

About the Author:

Kevin Yanik is the senior editor of LP Gas Magazine. Contact him at kyanik@northcoastmedia.net or 216-706-3724.

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