Tallgrass Energy Partners, an oil and gas pipeline company based in Leawood, Kansas, has announced a pair of acquisitions worth more than $50 million.
Tallgrass said its Tallgrass Terminals unit has agreed to buy a 51 percent interest in a Colorado crude oil terminal from Zenith Energy for about $31 million.
Tallgrass Terminals also has purchased a 38 percent interest in Deeprock North, which owns a crude oil terminal in Cushing, Oklahoma. Tallgrass said it paid $19.5 million for the stake.
After the acquisition, Deeprock North merged with Deeprock Development, which has an adjacent crude oil terminal. Tallgrass said it owns 60 percent of the combined entity.
Both deals are expected to bolster Tallgrass’ Pony Express Pipeline, which runs from Wyoming to Oklahoma.
Read more: Kansas City Business Journal