NGL Energy Partners Announces Quarterly Class D Distribution

Rhea-AI Summary

NGL Energy Partners LP (NYSE: NGL) has declared a quarterly distribution of $15.6 million for Class D Preferred Units, covering the quarter ending December 31, 2020. The distribution is scheduled for payment on February 12, 2021. This announcement reflects the company's ongoing commitment to its investors amid market fluctuations. The company operates as a diversified midstream energy entity, providing various logistics services for crude oil and natural gas liquids.

Positive

• Declaration of a $15.6 million distribution for Class D Preferred Units.
• Scheduled distribution payment reflects ongoing commitment to investors.

Negative

• The reliance on forward-looking statements introduces uncertainties in financial performance.
• Potential risks outlined in SEC filings could impact future operations.

NGL Energy Partners LP (NYSE: NGL) announced today that the Board of Directors of its general partner has declared a quarterly distribution in the required amount of $15.6 million, which amount represents the Class D Distribution Amount to be paid to the holders of the Class D Preferred Units for the quarter ended December 31, 2020. The Class D Preferred distribution will be made on February 12, 2021.

Forward-Looking Statements

This press release includes “forward-looking statements.” All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Actual results could vary significantly from those expressed or implied in such statements and are subject to a number of risks and uncertainties. While NGL believes such forward-looking statements are reasonable, NGL cannot assure they will prove to be correct. The forward-looking statements involve risks and uncertainties that affect operations, financial performance, and other factors as discussed in filings with the Securities and Exchange Commission. Other factors that could impact any forward-looking statements are those risks described in NGL’s annual report on Form 10-K, quarterly reports on Form 10-Q, and other public filings. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, specifically those under the heading “Risk Factors.” NGL undertakes no obligation to publicly update or revise any forward-looking statements except as required by law.

About NGL Energy Partners LP

NGL Energy Partners LP, a Delaware limited partnership is a diversified midstream energy company that transports, stores, markets and provides other logistics services for crude oil, natural gas liquids and other products and transports, treats and disposes of produced water generated as part of the oil and natural gas production process. For further information, visit the Partnership’s website at www.nglenergypartners.com.

This release is a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat 100% of NGL Energy Partner LP’s distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Therefore, distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.

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FAQ

What is the amount of the distribution declared by NGL Energy Partners?

NGL Energy Partners declared a distribution of $15.6 million for Class D Preferred Units.

When will the distribution be paid to NGL's investors?

The distribution will be paid on February 12, 2021.

What financial risks does NGL Energy Partners face?

NGL faces risks related to forward-looking statements, financial performance, and uncertainties as noted in SEC filings.

What type of company is NGL Energy Partners?

NGL Energy Partners is a diversified midstream energy company involved in logistics services for crude oil and natural gas liquids.