NGL Energy Partners LP has signed an agreement with Pecos Gathering & Marketing, L.L.C. and its affiliated companies ('Pecos') to acquire all of the limited liability company membership interests of Pecos for cash, plus an additional payment for agreed upon capital expenditures.

'NGL is pleased to have the opportunity to partner with the Jensen family, owner of Pecos, to expand our Crude Oil Logistics business in Texas and New Mexico,' stated James J. Burke, a Director of NGL.

The assets of Pecos consist primarily of crude oil purchasing and logistics operations in the Permian and Eagle Ford areas in Texas and New Mexico, along with related contracts, permits and real and personal property. Pecos purchases, gathers and/or transports 60,000 barrels per day of production and operates approximately 140 trucks. Jerry, Jonathan and Chris Jensen will remain with NGL in executive positions.

Tags: NGL Energy Partners LP