NGL Energy Partners Does Not Expect Material Impact from FERC Ruling
March 16 2018 - 5:36PM
Business Wire
NGL Energy Partners LP (NYSE: NGL) announced today that it does
not expect a material impact from yesterday’s revised policy
statement by the Federal Energy Regulatory Commission (FERC) to
disallow income tax allowance cost recovery in rates charged by
pipeline companies organized as master limited partnerships
(MLPs).
NGL owns Grand Mesa Pipeline, LLC (“Grand Mesa”), a FERC
regulated interstate crude oil pipeline that operates from the
DJ Basin in Weld County, Colorado with deliveries
to Cushing, Oklahoma. FERC’s revised policy impacts
cost-of-service rates on oil pipelines. Currently, the volumes of
crude oil that are transported on Grand Mesa are subject to
contractual agreements. Therefore, FERC’s revised policy will not
impact Grand Mesa at the present time.
About NGL Energy Partners LP
NGL Energy Partners LP is a Delaware limited
partnership. NGL owns and operates a vertically integrated energy
business with five primary businesses: water solutions, crude oil
logistics, NGL logistics, refined products/renewables and retail
propane. For further information, visit the Partnership's website
at www.nglenergypartners.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20180316005867/en/
NGL Energy Partners LPTrey Karlovich, 918-481-1119Executive Vice
President and Chief Financial
Officertrey.karlovich@nglep.comorLinda Bridges, 918-481-1119Vice
President – Finance and TreasurerLinda.bridges@nglep.com
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