NGL Energy Partners LP operates as a Delaware master limited partnership in midstream energy logistics and produced water management. The Partnership transports, stores, markets and provides logistics services for crude oil, natural gas liquids and other products, while its Water Solutions business transports, treats and disposes of produced water generated by oil and natural gas production.
Company news commonly covers Delaware Basin water infrastructure, including the Lea County Express Pipeline System, disposal wells, injection facilities and produced water handling capacity. Other recurring developments include results by Water Solutions and Crude Oil Logistics, activity on the Grand Mesa Pipeline and terminal assets, preferred-unit distributions, common-unit repurchases, debt refinancing and other capital-structure actions.
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NGL Energy Partners LP (NYSE: NGL) has announced that it will release its fiscal fourth quarter earnings results for the period ending March 31, 2023, after market close on May 31, 2023. Following this, management will host an earnings call at 4:30 PM CT on the same day to discuss the financial results. Investors and analysts can access the call through a webcast or by phone. The partnership operates as a diversified midstream energy company, providing transportation, storage, marketing, and logistics services for crude oil and natural gas liquids, as well as treating and disposing of produced water.
NGL Energy Partners LP (NYSE:NGL) has completed a significant Marine asset sale, generating approximately $112 million in cash. This acquisition allowed for the prepayment of a $39 million Marine equipment note, with the remaining funds applied to the ABL balance. As of March 31, 2023, NGL has reduced its total debt to just below $2.9 billion, a decrease of around $600 million since September 30, 2022. The leverage ratio stands at about 4.5 times trailing twelve-month Adjusted EBITDA, showcasing significant financial improvement. The CEO has praised the team for enhancing value and aims to provide future Adjusted EBITDA guidance.