Ngl Energy Partners Lp Stock Price, News & Analysis

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 $600 million to over $630 million, primarily driven by increased water processing volumes in the Delaware Basin. The company also reported a $227 million reduction in debt during the third fiscal quarter, bringing total debt to $3.258 billion as of December 31, 2022. Additionally, Brad Cooper will be promoted to Executive Vice President and Chief Financial Officer, effective January 13, 2023, succeeding Linda Bridges, who is resigning.

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.

NGL Energy Partners LP (NYSE:NGL) has made its 2021 Schedule K-3s available online for unitholders. This tax document is particularly vital for foreign unitholders and those needing specific tax reporting information. The partnership will not distribute physical copies of the Schedule K-3, encouraging stakeholders to access it electronically. Unitholders are advised to consult their tax advisors regarding the use of the Schedule K-3 for federal income tax filings. For more information, visit www.taxpackagesupport.com/ngl.