NGL Energy Partners LP Announces New Agreement for Produced Water Transportation and Disposal in the Delaware Basin
NGL Energy Partners LP (NYSE: NGL) has signed a new water supply and produced water transportation agreement with a leading producer in the Delaware Basin. This agreement includes minimum volume commitments effective January 1, 2021, covering acreage in Lea County, New Mexico. Doug White, EVP of Water Solutions, expressed confidence in the Partnership's ability to meet critical water supply and disposal needs efficiently. NGL operates a vast integrated network in several prolific U.S. oil and gas regions.
- New water supply and produced water transportation agreement established.
- Minimum volume commitments enhance revenue stability.
- Partnership demonstrates flexibility in meeting customer needs.
- None.
TULSA, Okla.--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE: NGL) (“NGL” or the “Partnership”) announced today that the Partnership signed a new water supply agreement and a separate produced water transportation and disposal agreement with a leading, super major producer customer operating within the Delaware Basin. The new produced water minimum volume commitment covers acreage located in Lea County, New Mexico. The minimum volume provisions in the agreement are effective on January 1, 2021.
“We are very pleased to announce the completion of this new agreement which demonstrates our flexibility and ability to execute for our customers to solve their critical water supply and produced water transport and disposal needs in a safe, efficient and reliable manner,” stated Doug White, EVP of Water Solutions.
NGL owns and operates the largest integrated network of large diameter produced water pipelines, recycling facilities and disposal wells in the Delaware Basin. The Partnership’s Water Solutions segment operates in a number of the most prolific crude oil and natural gas producing areas including the Delaware Basin in New Mexico and Texas, the Midland Basin in Texas, the DJ Basin in Colorado and the Eagle Ford Basin in Texas.
Forward Looking Statements
Certain matters contained in this press release include “forward-looking statements.” All statements, other than statements of historical fact, included in this press release may constitute forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will prove to be correct. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. Factors that might cause actual results to differ include, but are not limited to, the risk factors discussed from time to time in each of our documents and reports filed with the SEC.
Readers are cautioned not to place undue reliance on any forward-looking statements contained in this press release, which reflect management’s opinions only as of the date hereof. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements.
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.
