NGL Energy closes acquisition of New England company
BY Staff and Wire reports
Thursday, May 03, 2012
5/03/12 at 2:04 AM
NGL Energy Partners has closed its fifth acquisition in less than a year.
The Tulsa-based propane distributor said Wednesday it has purchased Downeast Energy Corp.'s assets in New England. The amount of cash and stock in the deal was not disclosed.
Downeast owned assets and offices in Maine and New Hampshire. Its system delivers 12 million gallons of retail propane and 28 million gallons of distillate annually.
NGL, which went public one year ago, previously bought operations from E. Osterman Propane, SemStream, Pacer Propane and North American Propane.