NGL Energy Partners LP (NYSE: NGL) has executed a definitive membership interest purchase agreement with Rimrock Midstream LLC for Rimrock’s 50% interest in Grand Mesa Pipeline LLC. NGL now owns 100% of the pipeline system.
Grand Mesa Pipeline LLC completed a successful open season on Oct. 3, securing multiple significant long-term shipper commitments. The system will include over 550 miles of new crude oil transportation pipeline, multiple truck injection bays, over 1.0 million barrels of operational storage, and at least two origination points located near Lucerne and Kersey (Riverside Station) in Weld County, Colorado. The system is in active development and is scheduled to begin service in the fourth quarter of 2016. Rimrock will construct and operate the pipeline system.