The FINANCIAL — Now owns 100% of pipeline (Il Sole 24 Ore Radiocor) – New York, 28 Nov – U.S. energy company NGL Energy Partners said it has executed a definitive interest purchase agreement with U.S. midstream energy company Rimrock Midstream to acquire Rimrock’s 50% stake in Grand Mesa Pipeline. As a result, NGL now owns 100% of the pipeline, according to Borsa Italiana Spa.
The acquisition further strengthens NGL’s diversified midstream business, adding significant fee based revenue backed by long term contracts.
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