NGL Buys Rimrock's 50% Stake In Grand Mesa Pipeline

NGL Buys Rimrock's 50% Stake In Grand Mesa Pipeline

NGL Buys Rimrock's 50% Stake In Grand Mesa Pipeline

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.