News Release
NuStar Closes on Acquisition of Navigator Energy Services, LLC
NuStar Completes Purchase of Leading Crude Oil Gathering, Transportation
and Storage Assets in the
- more than 500 miles of crude oil gathering and transportation pipelines with approximately 92,000 barrels per day, ship-or-pay volume commitments and deliverability of approximately 412,000 barrels per day;
- a pipeline gathering system with more than 200 connected producer tank batteries capable of more than 400,000 barrels per day of pumping capacity covering over 500,000 dedicated acres with fixed fee contracts; and
- approximately 1 million barrels of crude oil storage capacity with 440,000 barrels contracted to third parties.
“We believe these are the right assets, in the right place, at the right
time for NuStar,” said NuStar President and CEO
“We were very pleased with the market reception to our acquisition financing, with strong demand for the equity and our bond offering significantly oversubscribed,” noted Barron. “In addition, we feel fortunate to bring aboard an experienced and outstanding workforce at our new facilities, and we are working with them to quickly integrate the operations into our system.”
About
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking statements regarding
future events. All forward-looking statements are based on the
Partnership’s beliefs as well as assumptions made by and information
currently available to the Partnership. These statements reflect the
Partnership’s current views with respect to future events and are
subject to various risks, uncertainties and assumptions. These risks,
uncertainties and assumptions are discussed in NuStar Energy L.P.’s 2016
annual report on Form 10-K and subsequent filings with the
View source version on businesswire.com: http://www.businesswire.com/news/home/20170504006115/en/
Source:
NuStar Energy, L.P., San Antonio
Investors, Chris Russell,
Treasurer and Vice President Investor Relations
Investor Relations:
210-918-3507
or
Media, Mary Rose Brown, Executive Vice
President and Chief Administrative Officer,
Corporate
Communications: 210-918-2314
website: http://www.nustarenergy.com