NGL Energy Partners LP closed the sale of its refined products business in the Midcontinent region of the U.S., known as Mid-Con, to an undisclosed buyer, according to a Jan. 9 SEC filing.
The buyer purchased the inventory and open derivative positions of Mid-Con and assumed the partnership's obligations under certain system storage agreements, the filing said.
Mid-Con was previously part of NGL Energy Partners' refined products and renewables segment.
Financial details and terms were not disclosed.
NGL Energy Partners owns and operates four main businesses focused on crude oil logistics, water solutions, NGL logistics and refined products and renewables.