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) reported a significant loss of $380.4 million for Q3 fiscal 2021, largely due to a $383.6 million goodwill impairment linked to bankruptcy-related contract rejections by Extraction Oil & Gas. The partnership achieved adjusted EBITDA of $125 million, down from $200.5 million a year prior, impacted by lower demand in its Liquids segment due to COVID-19. A global settlement with Extraction includes a long-term supply agreement and a $35 million payment. NGL also announced a $2.05 billion senior secured notes offering to improve liquidity, temporarily suspending unit distributions until leverage targets are met.
NGL Energy Partners LP (NYSE: NGL) has successfully closed a refinancing deal totaling $2.55 billion, securing 7.5% senior secured notes due 2026 and a new $500 million asset-based revolving credit facility. Proceeds will be utilized to eliminate existing debts and enhance liquidity, with $340 million currently available under the ABL Facility. However, the Partnership will suspend common and preferred unit distributions until a leverage ratio below 4.75x is achieved, aiming to strengthen its financial position. The deal is expected to improve NGL's liquidity and operational flexibility.
NGL Energy Partners LP (NYSE: NGL) has priced a private offering of $2.05 billion in senior secured notes due 2026. The offering is exempt from registration under the Securities Act. Proceeds will be used to repay debt from existing credit facilities and cover associated fees. The notes will carry an interest rate of 7.500% per annum, with payments starting August 1, 2021. The offering is geared towards qualified institutional buyers, with an expected closing date of February 4, 2021. NGL emphasizes that this press release does not constitute an offer to sell securities.
NGL Energy Partners LP (NYSE: NGL) announced plans to offer $2.05 billion in senior secured notes due 2026. The funds will be utilized to repay current borrowings, including the existing revolving credit facility and a $250 million term credit agreement, in addition to covering associated fees and expenses. The notes will be offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S. This offering has not been registered under the Securities Act, thus limiting its availability in the U.S.
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.
NGL Energy Partners LP (NYSE: NGL) announced a global settlement with Extraction Oil and Gas, following its bankruptcy. The settlement includes a new long-term supply agreement with significant acreage dedication in the DJ Basin, allowing NGL to retain and transport crude oil volumes. NGL reinstated Adjusted EBITDA guidance for Fiscal 2021 at $500 million, factoring in an estimated $45 million reduction due to Extraction's bankruptcy. For Fiscal 2022, Adjusted EBITDA guidance is set between $570 million and $600 million, with capital expenditures expected at $100-$125 million.
NGL Energy Partners LP (NYSE: NGL) announced a settlement with Extraction Oil and Gas, Inc. (NYSE: XOG) related to XOG’s bankruptcy proceedings. Grand Mesa Pipeline, a subsidiary of NGL, will retain crude volumes for shipping on its pipeline and receive an unsecured claim expected to generate cash. In exchange, Grand Mesa will support XOG’s bankruptcy plan by withdrawing its objections and appeals. The agreements are subject to Bankruptcy Court approval.
NGL Energy Partners LP (NYSE: NGL) has announced a distribution for the quarter ending December 31, 2020. The Board declared a quarterly distribution of $0.5625 for the 9.00% Class B Preferred Units and $0.60156 for the 9.625% Class C Preferred Units. These distributions will be paid on January 15, 2021, to holders of record as of January 1, 2021. NGL operates as a diversified midstream energy company, offering logistics services for crude oil and natural gas liquids and managing water disposal from oil and gas production.
NGL Energy Partners LP (NYSE:NGL) will participate in the 2020 RBC Midstream Energy Virtual Conference on November 18 and 19, 2020. Members of NGL’s management team are set to engage in multiple virtual meetings with the investment community during this event. The slide presentation for the Conference can be accessed on NGL’s official website under the Investor Relations section. NGL is a diversified midstream energy company, specializing in the transportation, storage, marketing, and logistics of crude oil, natural gas liquids, and produced water disposal.
NGL Energy Partners LP (NYSE:NGL) reported a significant recovery in its second quarter of Fiscal 2021, showing income from continuing operations of $6.0 million, up from a $15.6 million loss a year prior. Adjusted EBITDA improved to $138.0 million, compared to $123.5 million in the previous year. The successful completion of the Poker Lake pipeline, with an initial capacity exceeding 350,000 barrels per day, bolstered operational capacity. Operating expenses in the Water Solutions segment decreased notably, resulting in anticipated annual savings of $50-$60 million. NGL is focused on reducing debt and optimizing cash flow.
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