NGL Energy Partners LP (NYSE: NGL) said Nov. 12 it will exit the Bakken saltwater disposal business as the Tulsa, Okla.-based company shifts its focus elsewhere. Tallgrass Energy LP (NYSE: TEP) agreed to buy NGL Water Solutions Bakken LLC and as a result acquire NGL’s Bakken water operations for $91 million cash. NGL’s Bakken water operations include five saltwater disposal wells located in McKenzie and Dunn counties, N.D. The company plans to use proceeds from the transaction to lower debt. NGL made the decision to exit the Bakken saltwater disposal business, where it does not have a dominant position, to focus on other shale plays primarily in the Permian Basin, according to Mike Krimbill, the company’s CEO.
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