Ngl Energy Partners Lp Stock Price, News & Analysis

NGL Energy Partners LP (NYSE:NGL) has announced the promotion of Linda Bridges to Executive Vice President and Chief Financial Officer, effective September 30, 2021. Ms. Bridges joined the company in June 2016 and has held several key positions, contributing significantly to recent financing efforts. Robert W. Karlovich III will resign from his role on the same date for personal business interests. CEO H. Michael Krimbill expressed confidence in Bridges' capabilities to lead financial strategies during the company’s de-leveraging process.

NGL Energy Partners LP (NYSE:NGL) reported a loss from continuing operations of $134.5 million for Q1 Fiscal 2022, compared to $33.8 million in Q1 Fiscal 2021. Adjusted EBITDA was $91.1 million, slightly up from $91.0 million year-over-year. The Water Solutions segment achieved a record Adjusted EBITDA of $81.5 million, benefiting from increased produced water volumes. NGL reaffirmed its FY 2022 Adjusted EBITDA guidance of $570 million - $600 million. Liquidity stood at $303 million as of June 30, 2021, with no significant debt maturities until November 2023.

NGL Energy Partners LP (NYSE: NGL) plans to release its fiscal 2022 first quarter earnings on August 9, 2021, after market close. The management will host a conference call at 4:00 PM CDT to discuss the financial results. Analysts and investors can register for the call here. An audio replay will be available for seven days following the call.

NGL Energy Partners LP (NYSE: NGL) has successfully completed its first large-scale wastewater recycling project in Lea County, NM, supporting simultaneous fracturing activities. The project produced approximately 130,000 barrels per day, peaking at 140,000 barrels, while eliminating the need for over 5 million barrels of fresh water. A second project is expected to begin soon, aiming to provide between 200,000 and 350,000 barrels per day. Increased demand for raw produced and recycled wastewater in the Delaware Basin is anticipated, with projected sales averaging 180,000 to 190,000 barrels per day in the first half of the fiscal year.

NGL Energy Partners LP (NYSE: NGL) announces a binding open season starting July 9, 2021, for its Grand Mesa Pipeline, which will conclude on August 9, 2021. The Grand Mesa pipeline, extending 550 miles from Weld County, Colorado, to Cushing, Oklahoma, has a capacity to transport up to 150,000 barrels per day. This initiative aims to re-contract available capacity that has recently opened due to shipper bankruptcies. The terms align closely with those from the 2016 open season. Interested parties can access the open season documents after executing a confidentiality agreement.

NGL Energy Partners LP (NYSE:NGL) reported a fourth-quarter loss from continuing operations of $229.2 million for the quarter ending March 31, 2021, driven by one-time costs and an impairment charge. The total loss for Fiscal 2021 reached $637.4 million, largely due to a $383.6 million goodwill write-down. Adjusted EBITDA fell to $94.3 million from $161.8 million year-on-year. Despite challenges, NGL completed a $2.05 billion private offering, enhancing liquidity and extending debt maturities. The partnership anticipates improved performance in Fiscal 2022 with rising crude prices and producer volumes.

NGL Energy Partners LP (NYSE: NGL) will release its fiscal fourth quarter earnings for the period ending March 31, 2021, on June 3, 2021, post-market close. Following the release, management will host an earnings call at 4:00 pm CDT to discuss financial results. Participants can join by dialing (800) 291-4083, using access code 7299585. An audio replay will be accessible for seven days after the call, starting June 4, 2021, at 1:00 pm CDT.

Investors should note the presence of forward-looking statements, which carry inherent risks and uncertainties, detailed in NGL's public filings.

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.