Monday, January 2, 2017
TULSA, Okla. (January 2, 2017) — NGL Energy Partners LP (Tulsa) has been approved by the U.S. Bankruptcy Court as the high bidder for certain assets of Murphy Energy Corp. (Tulsa). The assets include a Port Hudson, La. natural gas liquids terminal that supports refined products blending, and a Kingfisher, Okla. natural gas liquids and condensate facility. The combined purchase price is about $51 million.
“We are excited to add the Port Hudson terminal and the Kingfisher facility to our asset base as we continue to expand our midstream presence in both the Midcontinent and Gulf Coast regions,” said Todd Tanory, senior vice president of midstream assets at NGL Energy Partners. “These assets and their fee-based revenue streams complement our existing businesses and provide opportunities to optimize our existing operations across multiple commodities,” added Jay Furman, senior vice president of NGL commercial development.
The Port Hudson terminal is located near Baton Rouge and is near other refined products infrastructure along the Colonial Pipeline. The truck unloading and storage facilities allow the aggregation and supply of butane and naphtha for motor fuel blending. The terminal includes four truck unloading bays and eight pressurized storage tanks with total capacity of 720,000 gallons.
The Kingfisher facility connects to the Chisholm NGL Pipeline and the Conway fractionation complex. The facility has multiple truck unloading stations, 450,000 gallons of storage capacity, a methanol extraction tower, and a 5000-bbld condensate splitter. Located in the middle of the STACK shale play, the asset is expected to directly benefit from increased drilling activity in the STACK and SCOOP plays of central Oklahoma. The facility is supplied by production from regional gas processing plants and producers. Crude oil from the facility is expected to be delivered to Cushing, Okla. on the new Glass Mountain Pipeline extension into the STACK play. NGL Energy Partners is a 50% owner in Glass Mountain Pipeline.
“We are excited to add the Port Hudson terminal and the Kingfisher facility to our asset base as we continue to expand our midstream presence in both the Midcontinent and Gulf Coast regions,” said Todd Tanory, senior vice president of midstream assets at NGL Energy Partners. “These assets and their fee-based revenue streams complement our existing businesses and provide opportunities to optimize our existing operations across multiple commodities,” added Jay Furman, senior vice president of NGL commercial development.
The Port Hudson terminal is located near Baton Rouge and is near other refined products infrastructure along the Colonial Pipeline. The truck unloading and storage facilities allow the aggregation and supply of butane and naphtha for motor fuel blending. The terminal includes four truck unloading bays and eight pressurized storage tanks with total capacity of 720,000 gallons.
The Kingfisher facility connects to the Chisholm NGL Pipeline and the Conway fractionation complex. The facility has multiple truck unloading stations, 450,000 gallons of storage capacity, a methanol extraction tower, and a 5000-bbld condensate splitter. Located in the middle of the STACK shale play, the asset is expected to directly benefit from increased drilling activity in the STACK and SCOOP plays of central Oklahoma. The facility is supplied by production from regional gas processing plants and producers. Crude oil from the facility is expected to be delivered to Cushing, Okla. on the new Glass Mountain Pipeline extension into the STACK play. NGL Energy Partners is a 50% owner in Glass Mountain Pipeline.
