M&A Deal Summary

Tallgrass Energy Partners Acquires NGL Energy Partners - Water Solutions Bakken

On November 12, 2018, Tallgrass Energy Partners acquired environmental company NGL Energy Partners - Water Solutions Bakken from NGL for 91M USD

Acquisition Highlights
  • This is Tallgrass Energy Partners’ 1st transaction in the Environmental sector.
  • This is Tallgrass Energy Partners’ largest (disclosed) transaction.
  • This is Tallgrass Energy Partners’ 7th transaction in the United States.
  • This is Tallgrass Energy Partners’ 1st transaction in Oklahoma.

M&A Deal Summary
Date 2018-11-12
Target NGL Energy Partners - Water Solutions Bakken
Sector Environmental
Buyer(s) Tallgrass Energy Partners
Sellers(s) NGL
Deal Type Divestiture
Deal Value 91M USD

Target

NGL Energy Partners - Water Solutions Bakken

Tulsa, Oklahoma, United States
NGL Energy Partners LP - Water Solutions Bakken operations include five saltwater disposal wells located in McKenzie and Dunn Counties, North Dakota. The Water Solutions segment provides services for the treatment and disposal of wastewater generated from crude oil and natural gas production and for the disposal of solids such as tank bottoms and drilling fluids and performs truck and frac tank washouts. In addition, the Water Solutions segment sells the recovered hydrocarbons that result from performing these services.

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Buyer(S) 1

Buyer

Tallgrass Energy Partners

Overland Park, Kansas, United States
Category Company
Sector Energy Services and Equipment
DESCRIPTION

Tallgrass Energy is a family of companies formed to own, operate, acquire and develop midstream energy assets in North America. The Tallgrass Energy family is comprised of Tallgrass Energy Partners, LP, a master limited partnership, and Tallgrass Development, LP.

DEAL STATS #
Overall 7 of 8
Sector (Environmental) 1 of 1
Type (Divestiture) 3 of 4
State (Oklahoma) 1 of 1
Country (United States) 7 of 8
Year (2018) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-03 Tallgrass NatGas Operator

United States

Tallgrass NatGas Operator LLC is a provider of energy services in US.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-09 EH2 Power

Prewitt, New Mexico, United States

EH2 Power is developing a first-of-its-kind hydrogen-to-power project at Tri-State Generation and Transmission Association, Inc.’s Escalante Generating Station near Prewitt, New Mexico, by converting the retired coal-fired power plant into a clean hydrogen-fired power generating facility. EH2 Power is based in Prewitt, New Mexico.

Buy -

Seller(S) 1

SELLER

NGL

Tulsa, Oklahoma, United States
Category Company
Founded 1940
Sector Energy Services and Equipment
Employees842
Revenue 7.0B USD (2024)
DESCRIPTION

NGL operates a vertically integrated energy business with three operating segments: midstream, wholesale supply and marketing, and retail propane. NGL was founded in 1940 and is based in Tulsa, Oklahoma.

DEAL STATS #
Overall 3 of 4
Sector (Environmental) 1 of 1
Type (Divestiture) 2 of 3
State (Oklahoma) 2 of 2
Country (United States) 3 of 4
Year (2018) 2 of 3
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-30 NGL Propane

Tulsa, Oklahoma, United States

NGL Propane LLC sells propane and distillates to over 316,000 residential, commercial and industrial customers. NGL Propane, with over 1,000 employees in 151 locations (including 61 satellite distribution locations) and a fleet in excess of 1,000 trucks, services 22 states in the Northeast U.S., Southeast U.S. and Upper Midwest U.S. NGL Propane, trades under prominent regional brands, including Osterman Propane, Downeast Energy, Eastern Propane, Atlantic Propane, Anthem Propane, Gas Inc. and Brantley Gas.

Sell $900M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-20 NGL Energy Partners - Water Infrastructure Assets

Delaware, United States

NGL Energy Partners LP - Water Infrastructure Assets includes ~10 miles of pipeline in southern Reeves and Ward counties.

Sell $239M
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