NGL Energy Buys Ranches for Water Rights

September 14, 2018

 

After buying one ranch in New Mexico for water rights, NGL Energy Partners LP is now purchasing another.

Both are in the New Mexican Permian Basin.

After buying one ranch in New Mexico for water rights, NGL Energy Partners LP is now purchasing another.

Both are in the New Mexican Permian Basin.

Tulsa-based NGL bought the McCloy Ranch in July, which spans portions of Lea and Eddy counties — 87,000 acres and two million barrels of annual water rights.

Now NGL is buying the 36,000 acre Beckham Ranch in Lea County, which sits atop the Carlsbad, Capitan and Jal water basins, adding 9.6 million barrels, for a total of 122,000 acres and 11.6 million barrels of annual fresh water rights to its Permian portfolio.