News Release
NuStar Energy L.P. Announces Entry into Agreement to Acquire Navigator Energy Services, LLC
NuStar Acquires Leading Crude Oil Gathering, Transportation and
Storage Assets in the
- approximately 500 miles of crude oil mainline transportation pipelines with approximately 74,000 barrels per day, ship-or-pay volume commitments and deliverability of approximately 412,000 barrels per day through multiple outbound interconnects;
- 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; and
- approximately 1 million barrels of crude oil storage capacity with 440,000 barrels leased to third parties.
The acquisition is expected to close in mid- to
“We are excited about starting 2017 with a strategic acquisition, and
the addition of Navigator’s Permian assets marks NuStar’s entry into one
of the most prolific basins in the United States,” said NuStar President
and CEO
“We could not be more excited for all of Navigator’s stakeholders in
finding a future owner in NuStar that shares our commitment to
exceptional customer and employee relations. We will be working with
NuStar to provide a seamless transition for customers and employees
alike,” said Chief Executive Officer,
“The Navigator team has built a truly unique company predicated on a
customer-first philosophy underpinned by a group of employees focused on
flawless execution. We are confident NuStar will have tremendous success
integrating Navigator and transitioning it into the next phase of
growth,” added
Conference Call Details
A conference call with management is scheduled for
Investors interested in listening to the live discussion or a replay via the internet may access the discussion directly at http://edge.media-server.com/m/p/x7herqwk or by logging on to NuStar Energy L.P.’s website at www.nustarenergy.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking statements regarding
future events, such as the Partnership’s ability to successfully
complete and integrate the transactions described herein. 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/20170411006242/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