NGL Energy Partners LP said Dec. 20 it was approved by bankruptcy court as the high bidder for certain Murphy Energy Corp. assets including the Port Hudson, La., NGL terminal.
These assets fit strategically within NGL’s existing liquids and crude oil segments and include long-term, fee-based contracts.
The Port Hudson terminal near Baton Rouge, La., is near other refined products infrastructure along the Colonial Pipeline. The truck unloading and storage facility holds butane and naphtha for motor fuel blending. The terminal consists of four truck unloading bays and eight pressurized storage tanks with total capacity of 720,000 gallons (gal).
The Kingfisher, Okla., NGL and condensate facility was also included. It connects to the Chisholm NGL Pipeline and the Conway fractionation complex. The facility has multiple truck unloading stations, 450,000 gal of storage capacity, a methanol extraction tower and a 5,000 barrels per day condensate splitter.
The combined purchase price of the assets is about $51 million. The transaction is expected to close in January 2017.
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