NGL Energy Partners LP (NYSE: NGL) (“NGL” or the “Partnership”) announced today that the Partnership signed a new long-term produced water transportation and disposal agreement with a leading independent producer operating in Eddy and Lea Counties within the Delaware Basin. This agreement includes a 10 year acreage dedication totaling approximately 10,000 acres and an additional area of mutual interest (AMI) for future growth. The producer currently has a 53,000 acre position within the AMI which includes all of Eddy and Lea counties in New Mexico. As it has with other recent dedications, the Partnership plans to use its existing infrastructure and significant disposal capacity to service this new contract. “We are pleased to announce this agreement that allows us to continue to grow with this customer as it develops its resource and increase our dedicated acreage portfolio in the Northern Delaware Basin,” said Doug White, EVP Water Solutions.
NGL owns and operates the largest integrated network of large diameter produced water pipelines, recycling facilities and disposal wells in the Northern Delaware Basin. The Partnership’s Water Solutions segment operates in a number of the most prolific crude oil and natural gas producing areas including the Delaware Basin in New Mexico and Texas, the Midland Basin in Texas, the DJ Basin in Colorado and the Eagleford Basin in Texas.
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, a Delaware limited partnership, is a diversified midstream energy company that transports, stores, markets and provides other logistics 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.
NGL Energy Partners LP
Christian Holcomb, 303-815-1010
Senior Vice President & Chief Operating Officer – NGL Water Solutions
Trey Karlovich, 918-481-1119
Executive Vice President & Chief Financial Officer
Linda Bridges, 918-481-1119
Senior Vice President – Finance and Treasurer