NGL Energy Completes Purchase Of Magnum NGL Storage Assets
NGL Energy Partners LP (Tulsa) said Feb. 18 it had completed its acquisition of Magnum NGLs from Magnum Development LLC, a company of Haddington Ventures LLC (Houston). Magnum owns and operates an NGL storage facility with multiple salt caverns and a potential capacity of greater than 10 MMbbl. The facility is located southwest of Salt Lake City, Utah, with rail and truck access to western U.S. markets.
“We are excited to welcome the entire Magnum operations and commercial teams to the NGL organization, and we plan to continue expanding the storage capacity, enhancing above-ground services, and adding customers to make this the premier natural gas liquids storage facility in the western United States,” said Jay Furman, senior vice president of NGLs.
Inquiries about capabilities and storage options are invited, and may be directed to Mark Henson at 918/629-5805 or Furman at 281/536-5162. Additional information about the facility and the transaction is available at nglenergypartners.com.
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