NGL Exits Bakken Disposal Wells to Concentrate on Permian

January 2, 2019

 

NGL Energy Partners LP says it’s exited the Bakken saltwater disposal business as the company wants to focus on an area of the Permian Basin, using the income to pay down debt.

Tulsa-based NGL is selling its Bakken disposal wells, associated infrastructure and permits in Texas to a subsidiary of WaterBridge Resources LLC for more than $238 million.

Tallgrass Energy LP agreed to buy NGL Water Solutions Bakken LLC and as a result will get NGL’s Bakken water operations for $91 million cash.

NGL’s Bakken water facilities include five saltwater disposal wells in North Dakota.

CEO Mike Krimbill said NGL will concentrate on shale plays in the Permian Basin