NGL Energy Partners acquires ranches in New Mexico

|About: NGL Energy Partners LP (NGL)|By:, SA News Editor

NGL Energy Partners (NGL +1.2%) completes the purchase of ~36,000-acre Beckham Ranch and execute the latest phase of its Delaware Basin water infrastructure strategy.

The Beckham Ranch includes ~9.6M barrels of annual fresh water rights.

NGL also acquires the McCloy Ranch, consisting of ~87,000 acres of land and an associated 2M barrels of annual water rights in the core of the Delaware Basin in southern New Mexico

The acquisitions add to NGL's +30M barrels of annual available freshwater volume in the Delaware Basin.

NGL paid ~93M for both the acquisitions with an estimated full year run-rate Adjusted EBITDA contribution of $18M.

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