NGL Energy Partners LP (NYSE: NGL) and Rimrock Midstream, LLC are
pleased to announce a joint venture crude oil pipeline with initial
capacity exceeding 130,000 barrels per day originating in Weld County,
Colorado and terminating at NGL’s Cushing, Oklahoma terminal. Based on
sufficient commitments from shippers, Grand Mesa Pipeline will launch a
binding open season to solicit additional long-term volume commitments
from customers.
The construction of the Weld County pipeline project will help further
develop the crude and condensate rich areas in and around the DJ and
Wattenberg fields and provide additional options to transport oil
supplies to U.S. markets and refineries in the Midwest, including
several interconnected to the NYMEX designated hub of Cushing, Oklahoma.
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 while providing jobs and supporting the local economies.
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 NGL’s website at www.nglenergypartners.com.
About Rimrock Midstream, LLC
Rimrock Midstream, LLC is a strategic, growth-oriented company formed to
acquire, develop and operate a portfolio of midstream energy
infrastructure assets. Rimrock has been engaged in the business of
acquiring, transporting and storing crude oil in Oklahoma, Kansas,
Texas, North Dakota, Wyoming, Colorado, New Mexico and Utah. For more
information, visit www.rimrockmidstream.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.
Copyright Business Wire 2014