NGL Energy Partners LP (NYSE: NGL) completed the acquisition of Magnum NGLs LLC from Magnum Development LLC, the company said Feb. 17.
Magnum Development is a portfolio company of Haddington Ventures LLC and owns and operates a natural gas liquids storage facility with salt caverns and can potentially hold more than 10 million barrels. The facility is near Salt Lake City with rail and truck access to Western markets.
RBC Capital Markets LLC is the financial adviser to NGL Energy Partners. McGrath North Mullin & Kratz PC LLO and Winston & Strawn LLP are its legal counsel.
Simmons & Co. International is the financial adviser to Magnum Development and Haddington Ventures, and King & Spalding is their legal counsel.
Tulsa-based NGL Energy Partners LP owns and operates water solutions, crude oil logistics, NGL logistics, refined products/renewables and retail propane.
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