NGL Energy Partners Buys Rimrock's Interest In Grand Mesa Pipeline - Quick Facts

(RTTNews) - NGL Energy Partners, LP (NGL) announced a membership interest purchase agreement with Rimrock Midstream, LLC for Rimrock's 50% interest in Grand Mesa Pipeline, LLC. The company now owns 100% of the pipeline system. NGL Energy said the acquisition further strengthens its midstream business, adding significant fee based revenue backed by long term contracts.

Grand Mesa Pipeline, LLC completed a successful open season on October 3, 2014, securing multiple significant long-term shipper commitments. The system will include over 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 in Weld County, Colorado. The system is scheduled to commence service in the fourth quarter of 2016.