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NuStar Energy to buy Navigator Energy Services for $1.475B

Apr. 11, 2017 5:06 PM ETNuStar Energy L.P. Common Units (NS) StockBy: Carl Surran, 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.

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