July 03, 2013 [OPIS] - NGL Energy Partners LP said late on Monday that it has acquired the assets of Crescent Terminals LLC, a Delaware limited liability company, and the partnership interests of Cierra Marine LP, a Delaware limited partnership, and its affiliated companies.
The Cierra Marine LP acquisition expands NGL’s crude oil logistics business by adding four additional tow boats and seven crude oil barges, doubling NGL’s current fleet of marine equipment.
The terminal facility will add 130,000 bbl of storage capacity in the rapidly developing Eagle Ford shale in South Texas and include the ability to throughput up to 20,000 b/d to markets along the Gulf Coast.
NGL Energy Partners LP is a Delaware limited partnership. NGL owns and operates a
vertically integrated energy business with four primary businesses: water services, crude oil logistics, NGL logistics and retail propane. NGL completed its initial public offering in May 2011.
