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Stock Market & Financial Investment News

News Breaks
July 9, 2014
08:03 EDTNGLNGL Energy adds five new salt water disposal facilities
NGL Energy Partners announced that it has added five new salt water disposal facilities, which include a total of six recently completed disposal wells, for a cumulative cost of approximately $83M. Annual EBITDA in the first year of operation is projected at $16M. These facilities will increase capacity by 140K barrels per day, bringing NGLís total treatment and disposal capacity to 600K barrels per day. The new facilities were recently drilled and completed under certain development agreements with partners and are located in both the Eagle Ford shale and Permian Basin. A substantial number of attractive growth opportunities involving new disposal wells, facilities, and water pipelines are also in process under these agreements.
News For NGL From The Last 14 Days
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February 2, 2016
08:37 EDTNGLTransMontaigne: NGL Energy closed sale of ownership interests in GP to Arclight
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08:31 EDTNGLNGL Energy says closes sale of interest in Transmontaigne Partners for $350M
NGL Energy Partners LP (NGL) announced that on February 1, 2016, it closed the sale of its interest in TransMontaigne GP LLC (TLP) to Gulf TLP Holdings, LLC, an affiliate of ArcLight Capital Partners for $350 million in cash. TLPGP is the general partner of TransMontaigne Partners L.P., a Delaware master limited partnership and holds the 2% general partner interest and incentive distribution rights of TLP. NGL will use the cash proceeds to repay borrowings outstanding on its revolving credit facility. The TransMontaigne marketing business is a significant part of NGL's refined products business and remains with NGL uninterrupted by this transaction. NGL will retain TransMontaigne Product Services LLC, its customer contracts and its line space on the Colonial and Plantation pipelines. NGL will retain approximately 3.2 million common units it owns in TLP and has granted an option to ArcLight to purchase 800,000 of those common units at a future date.
January 29, 2016
16:43 EDTNGLNGL Energy Partners CFO Atanas Atanasov to resign, effective February 5
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