NGL Energy Partners LP (NGL) - Get Report ("NGL" or the "Partnership") announced today that the Partnership signed a long-term extension and expansion of an acreage dedication with an existing customer. The extension of this agreement is with a leading, investment grade independent producer customer operating in Lea and Eddy Counties, New Mexico within the Delaware Basin. The new agreement increases our acreage dedication by 22,000 acres, increasing the new total dedicated acres with this customer to approximately 122,000 acres, and extends the term through 2027.
"The renewal and extension of this agreement is a huge accolade to the NGL team, as it again demonstrates our ability to continually execute on produced water transportation and disposal needs of our customers in an unrivaled safe, efficient and reliable manner." stated Christian Holcomb, COO 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.
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