NuStar Energy to buy Navigator Energy Services for $1.475B

|About: NuStar Energy L.P. (NS)|By:, SA News Editor

NuStar Energy (NYSE:NS) agrees to acquire Navigator Energy Services, owner and operator of crude oil gathering, transportation and storage assets in the Permian Basin, for $1.475B.

Navigator's assets include 500 miles of crude oil mainline transportation pipelines, a pipeline gathering system with 200-plus connected producer tank batteries capable of more than 400K bbl/day of pumping capacity, and 1M barrels of crude oil storage capacity.

NS expects the purchase price, when coupled with modest future growth capex to build out the system, will result in a high single digit multiple as volumes ramp over time.