NGL Energy Partners LP (NYSE: NGL) announced today that it has added
five new salt water disposal facilities, which include a total of six
recently completed disposal wells, for a cumulative cost of
approximately $83 million. Annual EBITDA in the first year of operation
is projected at $16 million. These high quality, high volume,
strategically located facilities will increase capacity by 140,000
barrels per day, bringing NGL’s total treatment and disposal capacity to
600,000 barrels per day. The new facilities were recently drilled and
completed under certain development agreements with partners and are
located in both the Eagle Ford shale and Permian Basin. A substantial
number of attractive growth opportunities involving new disposal wells,
facilities, and water pipelines are also in process under these
agreements.
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: water solutions, crude oil logistics, NGL logistics, refined
products/renewables, and retail propane. NGL completed its initial
public offering in May 2011. For further information, visit the
Partnership’s website at www.nglenergypartners.com.
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.
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