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NGL acquires pipeline interest

By: Journal Record Staff//December 1, 2014//

NGL acquires pipeline interest

By: Journal Record Staff//December 1, 2014//

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TULSA – NGL Energy Partners LP has executed a definitive membership interest purchase agreement with Rimrock Midstream LLC for Rimrock’s 50-percent interest in Grand Mesa Pipeline LLC. NGL now owns 100 percent of the pipeline system.

Grand Mesa Pipeline LLC completed a successful open season on Oct. 3, securing multiple significant long-term shipper commitments. The system will include more than 550 miles of new crude oil transportation pipeline, multiple truck injection bays, over 1 million barrels of operational storage and at least two origination points located near Lucerne and Kersey in Weld County, Colorado. The system is in active development and is scheduled to commence service in the fourth quarter of 2016. Rimrock will construct and operate the pipeline system.