NuStar Energy LP said late Tuesday it had agreed to buy midstream operator Navigator Energy Services LLC for $1.48 billion. Navigator owns and operates crude-oil transportation, pipeline gathering, and storage assets located in West Texas’ Permian Basin. The deal is expected to close next month, subject to regulatory approvals and other conditions, the company said. The acquisition marks “NuStar’s entry into one of the most prolific basins in the United States,” CEO Bradley C. Barron said in a statement. Shares of NuStar fell 7% in late trading after ending the regular session up 0.1%.
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