NGL Energy Partners has acquired Coastal Plains #1, LLC, a subsidiary of WinCo Development, for $109.5 million in cash and approximately $6.8 million in stock (~$116 million total). The water disposal facilities will be added to NGL Energy partner’s existing business in the area – High Sierra Water-Eagle Ford, LLC.
The deal adds three water disposal facilities to High Sierra’s existing water gathering and treatment portfolio. The deal includes the option to acquire two permits and a fourth water disposal facility that is under construction. Costal Plains #1’s 40 employees will now work for High Sierra Water. [Read more…]