NGL Energy Partners LP Announces 2023 Open Season for Grand Mesa Pipeline Starting December 6, 2023

Rhea-AI Summary

NGL Energy Partners LP (NYSE: NGL) announces a binding open season for its affiliate, Grand Mesa Pipeline, LLC's crude oil pipeline, offering takeaway capacity for crude oil producers in the Denver-Julesburg Basin. The pipeline, capable of transporting up to 150,000 barrels per day, aims to support growth and production in a cost-effective and environmentally responsible way. The open season seeks commitments from shippers at a discounted rate, offering 40,000 barrels per day capacity for delivery into the Cushing hub.

TULSA, Okla.--(BUSINESS WIRE)-- NGL Energy Partners LP (NYSE: NGL) (“Partnership” or “NGL”) is pleased to announce that a binding open season will start today, December 6, 2023 at 8:00 am Central Daylight Time for its wholly owned affiliate Grand Mesa Pipeline, LLC’s (“Grand Mesa”) crude oil pipeline. This open season will close on January 5, 2024 at 5:00 pm Central Daylight Time.

Grand Mesa provides takeaway capacity for crude oil producers in the Denver-Julesburg Basin. It originates in Weld County, Colorado and extends approximately 550 miles southeast to NGL Crude Cushing, LLC’s storage terminal at Cushing, Oklahoma. The pipeline is capable of receiving and batch transporting up to 150,000 barrels per day for delivery into the Cushing hub, which affords its shippers access to both U.S. Midcontinent refining and trading markets as well as the Texas Gulf Coast refinery complex. 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.

NGL held open seasons in 2016 and in 2021 seeking commitments from shippers interested in shipping on Grand Mesa’s pipeline system. NGL is holding the current open season to contract available capacity on the Grand Mesa pipeline at a discounted rate. The total capacity being offered in this open season is 40,000 barrels per day for delivery into the Cushing hub.

Potential shippers will have access to the open season documents upon execution of a confidentiality agreement with Grand Mesa. The Confidentiality Agreement, and open season documents, can be obtained by contacting one of the contacts listed below.

About NGL Energy Partners LP

NGL Energy Partners LP, a Delaware limited partnership, is a diversified midstream energy company that transports, stores, markets and provides other logistics services for crude oil, natural gas liquids and other products and transports, treats and disposes of produced water generated as part of the oil and natural gas production process. For further information, visit the Partnership’s website at www.nglenergypartners.com.

Forward Looking Statements

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 such forward-looking statements are reasonable, NGL cannot assure they 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231205485362/en/

Contacts For Open Season



NGL Energy Partners LP



Derek Graham

VP Business Development – Crude Assets

713-496-3904

derek.graham@nglep.com

or

Carl Peterson

VP Business Development

713-496-3955

carl.peterson@nglep.com

Source: NGL Energy Partners LP

FAQ

What is the purpose of NGL Energy Partners LP's (NGL) open season announcement for Grand Mesa Pipeline, LLC's crude oil pipeline?

The purpose of the open season announcement is to offer takeaway capacity for crude oil producers in the Denver-Julesburg Basin and to seek commitments from shippers at a discounted rate.

What is the capacity of the Grand Mesa Pipeline for crude oil transportation?

The pipeline is capable of transporting up to 150,000 barrels per day for delivery into the Cushing hub.

When does the open season for the Grand Mesa Pipeline start and end?

The open season starts on December 6, 2023, and ends on January 5, 2024.

How can potential shippers obtain the open season documents for the Grand Mesa Pipeline?

Potential shippers can obtain the open season documents by executing a confidentiality agreement with Grand Mesa, which can be obtained by contacting one of the listed contacts.

What were the previous open seasons held by NGL Energy Partners LP for the Grand Mesa Pipeline?

NGL held open seasons in 2016 and 2021 seeking commitments from shippers interested in shipping on Grand Mesa's pipeline system.