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 reported a loss from continuing operations of $1.2 million for Q2 Fiscal 2022, down from a profit of $6.0 million in Q2 Fiscal 2021. Excluding asset impairments, income from continuing operations was $12.5 million, slightly up from $11.9 million last year.
Adjusted EBITDA reached a record $146.3 million, compared to $138.0 million a year prior, driven by a 43% increase in the Water Solutions segment. NGL expects full-year adjusted EBITDA guidance between $570 million and $600 million, with capital expenditures projected at $115 million.
NGL Energy Partners LP (NYSE: NGL) will release its fiscal 2022 second quarter earnings on November 9, 2021, post-market close. An earnings call is scheduled for the same day at 4:00 pm CST, led by management to discuss financial results. Interested parties can access the call via webcast or by phone. NGL emphasizes its commitment to transparency, highlighting the potential risks and uncertainties inherent in forward-looking statements.
NGL Energy Partners LP (NYSE:NGL) has announced the promotion of Linda Bridges to Executive Vice President and Chief Financial Officer, effective September 30, 2021. Ms. Bridges joined the company in June 2016 and has held several key positions, contributing significantly to recent financing efforts. Robert W. Karlovich III will resign from his role on the same date for personal business interests. CEO H. Michael Krimbill expressed confidence in Bridges' capabilities to lead financial strategies during the company’s de-leveraging process.
NGL Energy Partners LP (NYSE:NGL) reported a loss from continuing operations of $134.5 million for Q1 Fiscal 2022, compared to $33.8 million in Q1 Fiscal 2021. Adjusted EBITDA was $91.1 million, slightly up from $91.0 million year-over-year. The Water Solutions segment achieved a record Adjusted EBITDA of $81.5 million, benefiting from increased produced water volumes. NGL reaffirmed its FY 2022 Adjusted EBITDA guidance of $570 million - $600 million. Liquidity stood at $303 million as of June 30, 2021, with no significant debt maturities until November 2023.
NGL Energy Partners LP (NYSE: NGL) plans to release its fiscal 2022 first quarter earnings on August 9, 2021, after market close. The management will host a conference call at 4:00 PM CDT to discuss the financial results. Analysts and investors can register for the call here. An audio replay will be available for seven days following the call.
NGL Energy Partners LP (NYSE: NGL) has successfully completed its first large-scale wastewater recycling project in Lea County, NM, supporting simultaneous fracturing activities. The project produced approximately 130,000 barrels per day, peaking at 140,000 barrels, while eliminating the need for over 5 million barrels of fresh water. A second project is expected to begin soon, aiming to provide between 200,000 and 350,000 barrels per day. Increased demand for raw produced and recycled wastewater in the Delaware Basin is anticipated, with projected sales averaging 180,000 to 190,000 barrels per day in the first half of the fiscal year.
NGL Energy Partners LP (NYSE: NGL) announces a binding open season starting July 9, 2021, for its Grand Mesa Pipeline, which will conclude on August 9, 2021. The Grand Mesa pipeline, extending 550 miles from Weld County, Colorado, to Cushing, Oklahoma, has a capacity to transport up to 150,000 barrels per day. This initiative aims to re-contract available capacity that has recently opened due to shipper bankruptcies. The terms align closely with those from the 2016 open season. Interested parties can access the open season documents after executing a confidentiality agreement.
NGL Energy Partners LP (NYSE:NGL) reported a fourth-quarter loss from continuing operations of $229.2 million for the quarter ending March 31, 2021, driven by one-time costs and an impairment charge. The total loss for Fiscal 2021 reached $637.4 million, largely due to a $383.6 million goodwill write-down. Adjusted EBITDA fell to $94.3 million from $161.8 million year-on-year. Despite challenges, NGL completed a $2.05 billion private offering, enhancing liquidity and extending debt maturities. The partnership anticipates improved performance in Fiscal 2022 with rising crude prices and producer volumes.
NGL Energy Partners LP (NYSE: NGL) will release its fiscal fourth quarter earnings for the period ending March 31, 2021, on June 3, 2021, post-market close. Following the release, management will host an earnings call at 4:00 pm CDT to discuss financial results. Participants can join by dialing (800) 291-4083, using access code 7299585. An audio replay will be accessible for seven days after the call, starting June 4, 2021, at 1:00 pm CDT.
Investors should note the presence of forward-looking statements, which carry inherent risks and uncertainties, detailed in NGL's public filings.
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