NGL Acquires Water Disposal Business Of Coastal Plains Disposal #1

(RTTNews) - NGL Energy Partners LP (NGL) said Tuesday that it has acquired the water disposal business of Coastal Plains Disposal #1, LLC, owned by WinCo Development, LLC, for 222,381 common units and $109.5 million in cash.

The acquisition, which includes Coastal Plains' about 40 employees, expands NGL's subsidiary High Sierra Water-Eagle Ford, LLC water gathering and treatment infrastructure portfolio by adding three high quality, high capacity, water disposal facilities. The acquisition also includes an option to acquire a fourth water disposal facility currently under development, which is expected to be operational prior to the end of the year, and options to acquire two additional strategically located permitted locations.

The acquired operating facilities and additional locations complement NGL's existing footprint in the growing Eagle Ford shale play in Texas.