Rimrock Midstream has entered into agreements with Grand Mesa Pipeline,
LLC, a subsidiary of NGL Energy Partners LP (NYSE:NGL), to construct and
operate the Grand Mesa Pipeline.
Grand Mesa Pipeline, LLC completed a successful Open Season on October
3, 2014 securing multiple significant long-term shipper commitments. The
system will include approximately 550 miles of new crude oil
transportation pipeline, multiple truck injection bays, over 1.0 million
barrels of operational storage, and at least two origination points
located near Lucerne and Kersey (Riverside Station) in Weld County,
Colorado. The system is in active development and scheduled to come on
line in the latter part of 2016.
In addition to Grand Mesa, Rimrock is actively developing the Platte
River gathering system that will deliver significant volumes of crude
oil to Grand Mesa Pipeline’s origin point at Lucerne, Colorado. The
gathering system will consist of more than 220 miles of pipeline and
will be capable of delivering multiple grades of crude oil from several
counties throughout North Central and Eastern Colorado.
“We have been fortunate to add several of our industry’s most
experienced, respected and talented individuals to our team. It is
because of these team members that we are able to continue to execute on
our aggressive growth objectives in the Mid-Continent and Rockies
regions of the United States,” said John Peterson, Rimrock’s Chief
Executive Officer.
“The sale of our interest in Grand Mesa, the construction and operations
agreements with Grand Mesa and our development of the Platte River
gathering system greatly strengthen our financial and strategic position
as a midstream growth company,” stated Matt Valentine, Rimrock’s Chief
Financial Officer.
“We are pleased with Rimrock’s monetization of its Grand Mesa interests
and look forward to continuing to support Rimrock’s growth objectives,”
said Trent Kososki, Vice President of Energy Capital Partners.
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.
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.
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