Welcome to our dedicated page for NGL ENERGY PARTNERS LP news (Ticker: NGL), a resource for investors and traders seeking the latest updates and insights on NGL ENERGY PARTNERS LP stock.
NGL Energy Partners LP, formed in 2010, is a US-based company that occupies a unique niche in the midstream energy sector. As a vertically integrated full-service Master Limited Partnership (MLP), NGL Energy Partners serves customers at various points along the crude oil and natural gas liquids supply chain, water treatment, and retail propane industry. This diversified platform allows the company to pursue multiple growth strategies effectively.
NGL Energy Partners operates through five main business segments:
- Crude Oil Logistics: This segment handles the marketing, storage, and transportation of crude oil. The company owns crude oil storage terminals and pipeline injection stations, ensuring seamless logistics operations across the United States.
- Water Solutions: NGL Energy Partners provides services for the treatment, disposal, and recycling of wastewater generated from crude oil and natural gas production. The company also manages the disposal of solids such as tank bottoms and drilling fluids.
- NGL Liquids: This segment focuses on the supply of natural gas liquids to retailers, wholesalers, refiners, and petrochemical plants. The company ensures a consistent supply chain for these essential products.
- Retail Propane: NGL Energy Partners sells propane directly to end-users, offering services that cater to residential, commercial, and agricultural needs.
- Refined Products/Renewables: The company is also involved in the marketing and distribution of refined petroleum products and renewable fuels, further diversifying its portfolio.
NGL Energy Partners' asset base spreads throughout the United States, establishing a competitive advantage. While the company is large enough to serve its extensive customer base effectively, it remains agile enough to respond quickly to emerging growth opportunities. This combination of size and flexibility positions NGL Energy Partners as a leader in the midstream energy sector.
The company has recently been involved in several noteworthy projects, enhancing its infrastructure and expanding its service offerings. Financially, NGL Energy Partners maintains a strong position, supported by strategic partnerships and a commitment to operational excellence.
For the latest updates and relevant information about their performance, events, and developments, NGL Energy Partners remains a significant player worth watching in the energy industry.
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NGL Energy Partners LP (NGL) completes the sale of its North and South Ranches in New Mexico, generating approximately $70.0 million in proceeds. The sale surpasses the $150 million asset sale guidance, showcasing NGL's commitment to portfolio optimization and focus on reliable produced water management.
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NGL Energy Partners LP (NYSE: NGL) announced a distribution of 55.4% of outstanding arrearages for Q1 2024 to preferred unit holders. Quarterly distributions for Class B and Class C Preferred Units, along with a cash distribution for Class D units, totaling $120 million.
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NGL Energy Partners LP provides an update on the availability of the partnership’s 2023 Investor Tax Packages. The timing is dependent on the passage of the Tax Relief for American Families and Workers Act of 2024 by the U.S. Congress and the Biden administration. The legislation may lower NGL's taxable income for 2023. Due to the ongoing consideration of the bill, the availability of the tax packages is expected to be delayed until March 30, 2024.
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NGL Energy Partners LP reported its third quarter Fiscal 2024 financial results, including net income of $45.8 million, adjusted EBITDA of $151.7 million, and total leverage at the end of the quarter at 4.26 times. The company announced an open season for the Grand Mesa Pipeline and expects total asset sales in Fiscal 2025 of $150 million plus. However, the company also delivered notice to redeem existing notes and closed a debt refinancing transaction of $2.9 billion.
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NGL Energy Partners LP (NGL) announced a distribution of 50% of arrearages earned and outstanding through December 31, 2023 to be paid to holders of its preferred units. Each holder of Class B Preferred Units will receive $4.4439 per unit, and each holder of Class C Preferred Units will receive $4.0746 per unit on February 27, 2024. Additionally, a cash distribution of $115,035,820.87 was declared for Class D preferred units, also to be paid on February 27, 2024.
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NGL Energy Partners LP (NGL) has closed $2.9 billion of refinancing transactions, including a $2.2 billion senior secured notes offering and a seven-year $700.0 million senior secured term loan facility. The net proceeds will be used for various purposes, including the redemption of existing senior notes, repayment of borrowings, and general corporate purposes.
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NGL Energy Partners LP (NYSE: NGL) will release its fiscal third quarter earnings on February 8, 2024. The management team will host an earnings call to discuss financial results, which can be accessed via webcast or phone. An archived audio replay will also be available for 14 days.
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NGL Energy Partners LP has announced the upsizing of their senior secured notes offering from $2.1 billion to $2.2 billion. The company has priced $900 million in aggregate principal amount of 8.125% senior secured notes due 2029 and $1.3 billion in aggregate principal amount of 8.375% senior secured notes due 2032. NGL expects to use the net proceeds of the offering for various purposes including funding the redemption of existing notes and general corporate purposes.
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NGL Energy Partners LP (NYSE: NGL) announced its intention to offer $2.1 billion in aggregate principal amount of senior secured notes due 2029 and senior secured notes due 2032. The company plans to use the net proceeds to fund the redemption of existing senior notes, pay fees and expenses, and repay a portion of outstanding borrowings under NGL's senior secured asset-backed lending facility.
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NGL Energy Partners LP (NYSE:NGL) announced the expansion of its Lea County Express Pipeline System from 140,000 to 340,000 barrels per day in 2024. The addition of a second large-diameter pipeline, disposal wells, and facilities will expand the capabilities of NGL's produced water super-system and create a larger outlet for produced water disposal within the Delaware Basin. The expansion is fully underwritten by a minimum volume commitment contract with an investment grade oil and gas producer, providing additional cash flow certainty to the Partnership.
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FAQ
What is the current stock price of NGL ENERGY PARTNERS LP (NGL)?
The current stock price of NGL ENERGY PARTNERS LP (NGL) is $4.72 as of December 2, 2024.
What is the market cap of NGL ENERGY PARTNERS LP (NGL)?
The market cap of NGL ENERGY PARTNERS LP (NGL) is approximately 619.6M.
What is NGL Energy Partners LP known for?
NGL Energy Partners LP is known for its vertically integrated energy business, focusing on crude oil logistics, water solutions, NGL liquids, retail propane, and refined products.
When was NGL Energy Partners LP formed?
NGL Energy Partners LP was formed in 2010.
What are the main business segments of NGL Energy Partners LP?
The main business segments include Crude Oil Logistics, Water Solutions, NGL Liquids, Retail Propane, and Refined Products/Renewables.
What services does NGL Energy Partners LP provide?
NGL Energy Partners LP provides marketing and transportation of crude oil, treatment and disposal of wastewater, supply of natural gas liquids, and retail propane services.
What makes NGL Energy Partners LP unique?
NGL Energy Partners LP's unique blend of large-scale operations and agility, along with its diversified business segments, gives it a competitive edge in the energy sector.
Where does NGL Energy Partners LP operate?
NGL Energy Partners LP operates throughout the United States, with assets including crude oil storage terminals and pipeline injection stations.
How does NGL Energy Partners LP achieve growth?
The company pursues multiple growth strategies through its diversified platform and remains flexible to respond quickly to emerging opportunities.
Who are the customers of NGL Energy Partners LP?
Customers include retailers, wholesalers, refiners, petrochemical plants, as well as residential, commercial, and agricultural end-users.
What recent achievements has NGL Energy Partners LP made?
NGL Energy Partners LP has enhanced its infrastructure and expanded service offerings through various projects and strategic partnerships.
Why should investors consider NGL Energy Partners LP?
Investors may find NGL Energy Partners LP attractive due to its strong financial position, diversified business segments, strategic growth initiatives, and significant industry presence.
NGL ENERGY PARTNERS LP
NYSE:NGL
NGL Rankings
NGL Stock Data
619.60M
122.97M
6.85%
44.34%
1.92%
Oil & Gas Midstream
Natural Gas Transmission
United States of America
TULSA