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Brief -- Tallgrass Energy

Tallgrass Energy Partners LPunit BNN Water Solutions has closed on the $75 million acquisition of Whiting Oil & Gas Corp.'s Redtail Saltwater Disposal and Fresh Water Transportation and Storage System in Weld County, CO. It has a fresh water delivery and storage system and a produced water gathering and disposal system, including 62 miles of pipeline along with associated fresh water ponds and disposal wells. The purchase agreement with Whiting includes a five-year fresh water service contract and a nine-year gathering and disposal contract, each of which includes annual minimum volume commitments. Whiting also dedicated 148,000 acres to the Redtail system. Tallgrass expects the acquisition to be immediately accretive to unitholders. "Tallgrass intends to continue growing its water services business in the Rockies, Permian, Eagle Ford and other production areas to help companies that are seeking cost reductions in fresh water, disposal, recycling and general water management," said Tallgrass COO Bill Moler.        

ISSN © 2577-9877 | ISSN © 1532-1231

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