Bloomberg
NGL Energy Partners LP has bought water-disposal assets from Oilfield Water Lines LP for $168 million in cash. Oilfield is a partnership between High Roller Wells and Mark Cuban Companies.
Tulsa, Okla.-based NGL Energy Partners LP has purchased Oilfield Water Lines LP?s water disposal and hauling business in the Eagle Ford Shale.
NGL purchased the operation ? a partnership between High Roller Wells and the Mark Cuban Companies ? for $168 million in cash, shares of its stock and net working capital.
The deal adds four oil-and-gas water disposal facilities to NGL?s array of water treatment and gathering infrastructure, bringing its total number to 10. In addition, it boosts the number of water trucks in NGL?s fleet to 55.
?We are pleased to join the NGL team and help expand the NGL presence in water services for the energy sector,? Senior Vice President of Water Services Jim Winter said in a written statement.
Sanford Nowlin covers energy/utilities, transportation/aviation and manufacturing.
Source: http://feedproxy.google.com/~r/vertical_30/~3/nwIfYkzdyic/ngl-partners-scoops-up-water-disposal.html
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