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 (NYSE: NGL) is a Delaware master limited partnership operating a diversified midstream energy business across water solutions, crude oil logistics and liquids logistics. The NGL news feed on Stock Titan aggregates official announcements, earnings releases and other public communications that describe how the partnership’s operations and financial performance are evolving over time.
Investors following NGL’s news can review quarterly and annual financial results, including income from continuing operations and Adjusted EBITDA from continuing operations for each of its segments. Press releases discuss produced water volumes processed in the Water Solutions segment, physical volumes transported on the Grand Mesa Pipeline in the Crude Oil Logistics segment and operating income trends in the Liquids Logistics segment. These updates provide insight into how volumes, margins and segment contributions change across reporting periods.
The news stream also includes announcements of quarterly cash distributions on NGL’s Class B, Class C and Class D preferred units, along with details on record dates and payment dates as determined under the partnership agreement. In addition, NGL regularly issues notices about upcoming earnings calls, providing dial-in and webcast information for analysts, investors and other interested parties who want to hear management’s discussion of results and guidance.
Other items that may appear in NGL’s news include information on asset sales, changes in capital structure, updates to Adjusted EBITDA guidance ranges and qualified tax notices under Treasury Regulation Section 1.1446-4(b) that describe the U.S. tax treatment of distributions to foreign investors. By monitoring these releases, users can track how NGL manages its midstream asset base, capital allocation and contractual commitments across its Water Solutions, Crude Oil Logistics and Liquids Logistics segments.
NGL Energy Partners LP (NYSE: NGL) reported on recent bankruptcy proceedings involving its customer, Extraction Oil & Gas, Inc. Extraction has sought to reject two Transportation Services Agreements (TSAs) with NGL's subsidiary, Grand Mesa Pipeline. The bankruptcy court granted Extraction's motion, prompting Grand Mesa to appeal the decision. Grand Mesa's position asserts that the Federal Energy Regulatory Commission (FERC) has exclusive jurisdiction over certain aspects of the agreements. Additionally, Grand Mesa has raised concerns regarding Extraction's rights offering and its implications for equity dilution among unsecured creditors.
NGL Energy Partners LP (NYSE: NGL) declared a quarterly distribution of $0.10 per unit for Q2 2020, payable on November 13, 2020. The annualized distribution stands at $0.40, supported by an expected coverage of over 5.0x. CEO Mike Krimbill noted that this adjustment aims to reduce debt and leverage. The company performed well amidst industry challenges, achieving an average of 1.6 million barrels per day in produced water volumes. NGL plans to release its Q2 earnings on November 9, 2020.
NGL Energy Partners LP (NYSE: NGL) announced the commencement of produced water receipt from XTO Energy’s Poker Lake Development in the Delaware Basin. This marks full commissioning of the Poker Lake Express Pipeline, with an initial capacity exceeding 350,000 barrels per day, dedicated to 70,000 acres in Eddy County, NM. The Partnership expects to expand its capacity to over 700,000 barrels per day as the development progresses. This milestone signifies a key advancement for NGL's Water Solutions business, reflecting strong collaboration between NGL and XTO Energy.
NGL Energy Partners LP (NYSE: NGL) has signed a new water supply and produced water transportation agreement with a leading producer in the Delaware Basin. This agreement includes minimum volume commitments effective January 1, 2021, covering acreage in Lea County, New Mexico. Doug White, EVP of Water Solutions, expressed confidence in the Partnership's ability to meet critical water supply and disposal needs efficiently. NGL operates a vast integrated network in several prolific U.S. oil and gas regions.