Today, NGL Energy Partners LP announced its acquisition of the assets of High Roller Wells Big Lake SWD No.1 Ltd. The latter is a limited partnership in Texas. The purchase of Big Lake made NGL's water services units to expand by adding high capacity for the oil and gas water disposal facility to its water treatment portfolio. Further, the acquisition made NGL gather additional infrastructure. Permian Basin located in West Texas is a major US oil producing region. The purchase of Big Lake brought experienced development team to NGL. A 25,000 barrel disposal capacity was also taken from the acquisition.
The partnership increased the company's Fiscal 2014 adjusted EBITDA guidance from US$230-US$235 million to US$240-US$245 million. NGL Energy Partners LP is a Delaware limited partnership. The company owns and operates with four primary focuses. This included water services, crude oil logistics, NGL logistics and retail propane. The company completed its initial public offering last May 2011.
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