Ngl Energy Partners Lp Stock Price, News & Analysis

NGL Energy Partners LP (NYSE: NGL) announced a global settlement with Extraction Oil and Gas, following its bankruptcy. The settlement includes a new long-term supply agreement with significant acreage dedication in the DJ Basin, allowing NGL to retain and transport crude oil volumes. NGL reinstated Adjusted EBITDA guidance for Fiscal 2021 at $500 million, factoring in an estimated $45 million reduction due to Extraction's bankruptcy. For Fiscal 2022, Adjusted EBITDA guidance is set between $570 million and $600 million, with capital expenditures expected at $100-$125 million.

NGL Energy Partners LP (NYSE: NGL) announced a settlement with Extraction Oil and Gas, Inc. (NYSE: XOG) related to XOG’s bankruptcy proceedings. Grand Mesa Pipeline, a subsidiary of NGL, will retain crude volumes for shipping on its pipeline and receive an unsecured claim expected to generate cash. In exchange, Grand Mesa will support XOG’s bankruptcy plan by withdrawing its objections and appeals. The agreements are subject to Bankruptcy Court approval.

NGL Energy Partners LP (NYSE: NGL) has announced a distribution for the quarter ending December 31, 2020. The Board declared a quarterly distribution of $0.5625 for the 9.00% Class B Preferred Units and $0.60156 for the 9.625% Class C Preferred Units. These distributions will be paid on January 15, 2021, to holders of record as of January 1, 2021. NGL operates as a diversified midstream energy company, offering logistics services for crude oil and natural gas liquids and managing water disposal from oil and gas production.

NGL Energy Partners LP (NYSE:NGL) will participate in the 2020 RBC Midstream Energy Virtual Conference on November 18 and 19, 2020. Members of NGL’s management team are set to engage in multiple virtual meetings with the investment community during this event. The slide presentation for the Conference can be accessed on NGL’s official website under the Investor Relations section. NGL is a diversified midstream energy company, specializing in the transportation, storage, marketing, and logistics of crude oil, natural gas liquids, and produced water disposal.

NGL Energy Partners LP (NYSE:NGL) reported a significant recovery in its second quarter of Fiscal 2021, showing income from continuing operations of $6.0 million, up from a $15.6 million loss a year prior. Adjusted EBITDA improved to $138.0 million, compared to $123.5 million in the previous year. The successful completion of the Poker Lake pipeline, with an initial capacity exceeding 350,000 barrels per day, bolstered operational capacity. Operating expenses in the Water Solutions segment decreased notably, resulting in anticipated annual savings of $50-$60 million. NGL is focused on reducing debt and optimizing cash flow.

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.