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.
NGL Energy Partners LP (NYSE:NGL) announced the sale of its marine assets for $111.65 million in cash, which is expected to close by the end of this month, subject to customary conditions. The sale includes 13 towboats and 25 tank barges, previously utilized for transporting refined products and crude oil. CEO Mike Krimbill emphasized that the proceeds will significantly assist in reducing the company’s debt by March 31, 2023, aligning with their ongoing strategy to lower leverage. BofA Securities is advising on the transaction, and McAfee & Taft is providing legal counsel.
NGL Energy Partners LP (NYSE:NGL) announced plans to redeem $203.4 million of its 7.5% Senior Notes due 2023. On March 31, 2023, holders will receive 100% of the principal amount plus any accrued interest. This redemption signifies the complete extinguishment of the Notes, as interest will cease to accrue after the Redemption Date. NGL cautions that forward-looking statements made in the release are subject to various risks and uncertainties that could significantly affect operations and financial performance, as detailed in their public filings.
NGL Energy Partners LP (NYSE:NGL) has permanently increased its Asset-Based Lending (ABL) Facility to $600 million. This amendment, effective from April 13, 2022, allows for greater financial flexibility to support growth, especially in the Water Solutions segment. The additional commitments will revert to $500 million by March 31, 2023, with the extended maturity for the extra $100 million lasting until February 2026. CFO Brad Cooper noted that this move aligns with a higher commodity price environment.
NGL Energy Partners LP (NYSE:NGL) reported strong financial results for the third quarter of Fiscal 2023, with a net income of $59 million, reversing a loss of $19 million from the previous year. For the first nine months, the partnership achieved a net income of $85.7 million compared to a loss of $154.7 million in the same period of Fiscal 2022.
The Water Solutions segment achieved record quarterly Adjusted EBITDA of $121.7 million, marking a 47.1% year-over-year increase. Produced water volumes processed reached approximately 2.43 million barrels per day, a 31.9% increase from last year. The company is raising its Water Solutions Adjusted EBITDA guidance for Fiscal 2023 to over $440 million.
NGL Energy Partners LP (NYSE: NGL) will release its fiscal third quarter earnings for the period ending December 31, 2022, on February 9, 2023, post-market close. An earnings call is scheduled for the same day at 4:30 PM CT, where management will discuss the financial results. Interested parties can join the call via a provided webcast link or by phone. The company operates as a diversified midstream energy firm, handling various logistics services for crude oil, natural gas liquids, and produced water management.
NGL Energy Partners LP (NYSE: NGL) has raised its Fiscal 2023 Adjusted EBITDA guidance from over
NGL Energy Partners LP (NYSE:NGL) reported a net income of $3.6 million for Q2 Fiscal 2023, rebounding from a net loss of $1.2 million in Q2 Fiscal 2022. For the first six months, net income reached $26.7 million, compared to a net loss of $135.7 million the previous year. Adjusted EBITDA for Q2 was $142.2 million, slightly down from $146.3 million in Q2 2022. The Water Solutions segment reported record processed water volumes of 2.27 million barrels per day, a 28.7% increase year-over-year. The company reaffirmed Adjusted EBITDA guidance exceeding $600 million for the fiscal year.
NGL Energy Partners LP (NYSE: NGL) will release its fiscal second quarter earnings for the period ending September 30, 2022, after the market closes on November 9, 2022. An earnings call is scheduled for the same day at 4:00 PM CT, where management will discuss financial results. Interested parties can join via webcast or by phone. This announcement provides insight into NGL's ongoing operations as a midstream energy company involved in the transportation and logistics of crude oil and natural gas liquids.
NGL Energy Partners LP's Water Solutions segment is highlighted in the Discovery Channel's Tomorrow's World Today for its advancements in sustainable produced water reuse technology. Collaborating with XRI Holdings, NGL aims to minimize freshwater usage in oil and gas activities. This episode showcases the potential for recycled water applications beyond oil and gas, including agriculture. NGL operates a vast network of pipelines and recycling facilities in key oil-producing regions like the Delaware Basin and Midland Basin, enhancing its commitment to sustainable practices.
NGL Energy Partners LP (NYSE:NGL) will attend the Wells Fargo 2022 Leveraged Finance Conference in Nashville, Tennessee from September 7-9, 2022. NGL’s management team will engage in one-on-one meetings with investors during the event. A slide presentation related to the conference is available on NGL's website under the Investor Relations section. NGL is a diversified midstream energy company focused on transporting, storing, and marketing crude oil and natural gas liquids, along with providing logistics services.
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