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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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NGL Energy Partners LP announces plans to syndicate a new seven-year $700 million senior secured term loan facility and provides preliminary third quarter financial estimates. The company expects to use the net proceeds to refinance existing debt and for general corporate purposes. The estimated consolidated adjusted EBITDA for the third quarter is $150 - $160 million, with capital expenditures of $30 - $40 million.
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NGL Energy Partners LP (NYSE: NGL) announces a binding open season for its affiliate, Grand Mesa Pipeline, LLC's crude oil pipeline, offering takeaway capacity for crude oil producers in the Denver-Julesburg Basin. The pipeline, capable of transporting up to 150,000 barrels per day, aims to support growth and production in a cost-effective and environmentally responsible way. The open season seeks commitments from shippers at a discounted rate, offering 40,000 barrels per day capacity for delivery into the Cushing hub.
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NGL Energy Partners LP (NYSE:NGL) reported net income of $28.3 million for Q2 Fiscal 2024, a significant increase from $3.6 million in Q2 Fiscal 2023. Adjusted EBITDA for the same period was $176.2 million, up from $142.2 million in Q2 Fiscal 2023. Water Solutions segment's quarterly Adjusted EBITDA reached $140.4 million, a 34.0% increase from Q2 Fiscal 2023. Total leverage at the end of the quarter was 4.14 times, down from 6.11 times in Q2 Fiscal 2023.
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NGL Energy Partners to release Q2 earnings and host earnings call on November 9, 2023.
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NGL Energy Partners LP (NYSE:NGL) reported first quarter Fiscal 2024 financial results, with net income of $19.6 million, adjusted EBITDA of $134.7 million, and 14.1% growth in produced water volumes processed. The Water Solutions segment achieved a 17.3% increase in Adjusted EBITDA, while asset sales guidance was increased to $75 million and growth capital expenditures reduced by $10 million.
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NGL Energy Partners LP has announced that its 2022 Schedule K-3s reflecting items of international tax relevance are available online. Unitholders can access their Schedule K-3 at www.taxpackagesupport.com/ngl. A limited number of unitholders may need the detailed information disclosed on Schedule K-3 for their specific reporting requirements. NGL Energy Partners, LP will not mail Schedule K-3s to investors, but unitholders can request an electronic copy via email by calling Tax Package Support.
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NGL Energy Partners LP (NYSE: NGL) plans to release its fiscal first quarter ended June 30, 2023 earnings press release post-market close on Wednesday, August 9, 2023, followed by an earnings call at 4:30 pm CT. The management team will discuss the financial results, and interested parties can join the webcast or access the archived audio replay for 14 days.
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NGL ENERGY PARTNERS LP
NYSE:NGL
NGL Rankings
NGL Stock Data
744.72M
123.02M
7.04%
40.75%
2.24%
Pipeline Transportation of Crude Oil
Transportation and Warehousing
United States of America
TULSA
About NGL
welcome to ngl energy partners, formed in 2010. our asset base throughout the united states establishes us as a vertically integrated full service mlp occupying a unique niche in the midstream energy sector. we serve customers at various points along the crude oil and natural gas liquids supply chain, water treatment and retail propane which create a diversified platform to pursue multiple growth strategies. our structure allows us the flexibility to respond quickly to emerging growth options, and our size affords us a unique competitive advantage – we are large enough to serve our customers, while being small enough to know them. ngl energy partners is focused on five business segments: •crude oil logistics •water solutions •ngl liquids •retail propane •refined products/renewables we provide solutions for upstream companies such as marketing crude oil, marketing natural gas liquids, treating produced and flowback water disposal or recycling. we own terminals located coast to coast, ne