NGL Energy Partners Buys NGL Storage Facility in Utah
02.10.2015 - NEWS

February 10, 2015 [OPIS] - NGL Energy Partners said on Monday that it will buy Magnum NGLs from Magnum Development LLC, a portfolio company of Haddington Ventures LLC, and other Haddington-sponsored investment entities.


Magnum owns and operates a natural gas liquids storage facility with multiple existing salt caverns and a potential capacity of greater than 10 million bbl.

The facility is located southwest of Salt Lake City, Utah, with rail and truck access to Western U.S. markets.

The definitive agreement contemplates the purchase of Magnum NGLs LLC on a debt-free basis for a purchase price of $280 million plus working capital adjustments at closing.

The transaction is fully financed and will be paid through a combination of $80 million cash and $200 million in NGL Common Units issued to the seller and subject to certain lock-up provisions.

The transaction is expected to be DCF neutral in the first year and significantly accretive to NGL’s DCF/LP unit thereafter, with an EBITDA multiple expected to be 7.1x in fiscal 2017.

The acquisition is expected to close in the first quarter of 2015.

Ergon Refining Invests $400 Million to Expand Vicksburg Operations
04.03.2025 - NEWS
April 03, 2025 [Yahoo News]- Ergon Refining, a specialty naphthenic product manufacturer, will ex... Read More
BDI Sets New Standards in Biofuel Production with the Construction of a New PreTreatment Plant
04.03.2025 - NEWS
April 03, 2025 [BDI-BioEnergy]- BDI-BioEnergy International has signed a contract with Ghent Rene... Read More
Japan's Mitsubishi May Consider Investing in Alaska LNG Project, CEO Says
04.03.2025 - NEWS
April 03, 2025 [Reuters]- Japanese trading house Mitsubishi Corp may consider investing in the Al... Read More
Colombia's Ecopetrol to Invest up to $700 Million in SAF Production Plant
04.03.2025 - NEWS
April 03, 2025 [Reuters]- Colombia’s state-run energy company Ecopetrol plans to invest bet... Read More