NGL Energy Partners LP (NYSE: NGL) is buying Gavilon LLC for $890 million.

Gavilon is a diversified midstream energy business that operates crude oil storage, terminal and pipeline assets in Oklahoma, Texas and Louisiana. The purchase price includes about $200 million of working capital.

Gavilon, headquartered in Omaha, Neb., is being sold by funds managed by New York asset management firm Ospraie Management LP, private equity firm General Atlantic and hedge fund Soros Fund Management.

Tulsa, Okla.-based NGL operates water, oil, logistics and propane-related energy businesses. NGL plans to finance the deal with $240 million from a private placement and $650 million in borrowings under its credit facility.

UBS Investment Bank is NGL’s financial adviser for the deal, while Lock Lord LLP is providing legal advice. Barclays is acting as Gavilon’s financial adviser, while Jones Day and McGrath North acted as legal counsel.

Other recent energy deals include Caelus Energy LLC’s purchase of Pioneer Natural Resources Co.’s (NYSE: PXD) Alaska subsidiary, and Chevron Corp.’s (NYSE: CVX) deal for two offshore energy sites.

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