NGL Energy Partners LP got clearance from the U.S. Bankruptcy Court to buy NGL assets in Louisiana and Oklahoma from Murphy Energy Corp. for about $51 million.
The assets, which also include long-term, fee-based contracts, are a strategic fit in NGL Energy Partners' liquids and crude oil segments and expand its midstream presence in the Midcontinent and Gulf Coast, the partnership said in a Dec. 20 news release.
The assets include an NGL terminal in Port Hudson, La., and an NGL and condensate facility in Kingfisher, Okla., in the STACK play.
The recently announced expansion of the Glass Mountain pipeline, a joint venture of NGL Energy Partners and SemGroup Corp., would deliver crude oil from the Kingfisher facility to Cushing, Okla.
Murphy Energy is an oil and gas transporter undergoing Chapter 11 reorganization.