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The Dirt on the Permian Basin: Hot or Not?

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Part 5
The Dirt on the Permian Basin: Hot or Not? PART 5 OF 13

NuStar’s Big Permian Purchase in May

NuStar purchases Permian assets

On May 4, 2017, NuStar Energy LP (NS) spent ~$1.5 billion to purchase Navigator Energy Services’ crude oil gathering, transportation, and storage assets in the Permian Basin.

NuStar&#8217;s Big Permian Purchase in May

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The price tag for the transaction was $1.5 billion in May 2017. The assets purchased consist of the following:

  • Over 500 miles of crude oil gathering and transportation pipelines, with around 92,000 barrels-per-day capacity ship-or-pay volume commitments, with deliverability of ~412,000 barrels per day.
  • Over 400,000 barrels-per-day pumping capacity of pipeline gathering, which covers over 500,000 dedicated acres, with fixed fee contracts.
  • Crude oil storage capacity of~1 million barrels, 440,000 barrels of which have been committed to third parties.

Nustar’s press release stated: “The assets are strategically located in the core of the core of the country’s most prolific basin are well-built and well-run, are backed by solid, fee-based customer contracts.”

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