Welcome to our dedicated page for NGL Energy Partners LP SEC filings (Ticker: NGL), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
NGL Energy Partners LP filings document the Partnership’s midstream energy business, listed partnership securities, financing arrangements and governance matters. Recent Form 8-K disclosures cover material definitive agreements, including term-loan financing entered into by NGL Energy Operating LLC, and the Partnership’s registered common units and fixed-to-floating rate cumulative redeemable perpetual preferred units listed on the New York Stock Exchange.
Proxy materials and related current reports describe unitholder voting matters, the NGL Energy Partners LP 2025 Long-Term Incentive Plan, unit-based awards, auditor ratification and governance through the board of directors of the general partner. These filings also provide formal records of capital-structure actions, compensation-plan authorization and other material events affecting the master limited partnership.
Cooper Bradley P reported acquisition or exercise transactions in this Form 4 filing.
NGL Energy Partners LP granted its CFO & EVP, Bradley P. Cooper, 600,000 restricted Common Units under the NGL Long Term Incentive Plan on 2026-07-15. These restricted units vest in installments under an award agreement and are explicitly described as not an open market purchase, bringing his direct holdings to 800,000 Common Units.
COLLINGSWORTH JAMES M reported acquisition or exercise transactions in this Form 4 filing.
NGL Energy Partners LP reported that director James M. Collingsworth received a grant of 24,000 restricted Common Units on July 15, 2026, at a stated price of $0.0000 per unit under the NGL Long Term Incentive Plan. These restricted units vest in installments according to the related award agreement.
Following this equity award, he directly holds 753,500 Common Units, including 2,000 units owned jointly with his spouse. Indirect holdings reported include 9,500 units held jointly by his spouse and sister-in-law and 870 units held by his spouse.
Coady Shawn W reported acquisition or exercise transactions in this Form 4 filing.
NGL Energy Partners LP director Shawn W. Coady received 24,000 restricted common units on July 15, 2026, at $0.0000 per unit under the NGL Long Term Incentive Plan. The award is equity compensation, not an open market purchase, and increases his directly held common units to 196,304, alongside additional indirect interests held through family trusts and a family partnership where he disclaims beneficial ownership beyond his pecuniary interest.
NGL Energy Partners LP outlines its midstream operations and strategic repositioning in its Annual Report for the year ended March 31, 2026. The partnership now focuses on three segments: Water Solutions, Crude Oil Logistics and Liquids Logistics, emphasizing long-term, fee-based contracts with acreage dedications and minimum volume commitments.
NGL highlights a shift toward becoming a pure‑play water solutions platform, supported by the large Northern Delaware Basin system, which handled about 1.063 billion barrels of produced water in the year. The report details multiple 2025 asset sales in refined products and wholesale propane, reducing exposure to more volatile businesses.
The partnership completed a $950.0 million seven‑year senior secured 2026 Term Loan B refinancing and amended its ABL facility, aiming to improve its capital structure and ultimately reduce leverage and Class D Preferred Units. At May 26, 2026, NGL had 124,814,289 common units outstanding and continues to stress safety, regulatory compliance and environmental stewardship, while flagging extensive risk factors related to commodity prices, regulation, liquidity and climate policy.
Bank of America Corporation filed an Amendment No. 3 to a Schedule 13G/A reporting beneficial ownership of 8,283,983 common units representing limited partner interests of NGL Energy Partners LP. The filing states this equals 6.7% of the class, based on 123,814,289 outstanding shares as of January 30, 2026 (reported in the issuer's Form 10-Q on February 3, 2026). The ownership is held by Bank of America and certain wholly owned subsidiaries, with 8,275,036 shared voting power and 8,283,983 shared dispositive power.
NGL Energy Partners entered into a new $950.0 million senior secured term loan maturing in 2033. The facility, borrowed by NGL Energy Operating LLC and guaranteed by certain subsidiaries, refinances the existing term loan and adds incremental secured debt capacity.
NGL expects to use the net proceeds to repay its prior term loan, redeem, repurchase or otherwise retire a portion of its Class D Preferred Units, and for general corporate purposes. Management estimates approximately 195,000 Class D Units will be repurchased, leaving about 316,000 outstanding.
At the same time, NGL amended its asset-based revolving credit facility, reducing total commitments from $475.0 million to $425.0 million, cutting the letter-of-credit sub-limit to $100.0 million, and lowering interest margins and commitment fees. The term loan bears interest at SOFR or an alternate base rate plus leverage-linked margins and includes customary covenants, a minimum 1.10x quarterly debt service coverage ratio starting with the quarter ending June 30, 2026, and standard events of default.
NGL Energy Partners LP reports that unitholders approved its 2025 Long-Term Incentive Plan at a February 9, 2026 special meeting. The plan authorizes up to 10,000,000 units for options, restricted units, phantom units and other equity-based awards over a 10-year term.
The plan includes governance-focused features such as no options or unit appreciation rights below fair market value, no repricing without unitholder approval, double-trigger change-of-control vesting, no evergreen or automatic grants, limits on distribution equivalents, non-recycling of withheld or surrendered units, and application of the Partnership’s clawback policy. Unitholders also ratified Grant Thornton LLP as independent auditor for fiscal 2026.
NGL Energy Partners reported improved results for the quarter ended December 31, 2025. Revenue was $909.8 million, slightly lower than a year earlier, but operating income rose to $109.7 million. Net income increased to $48.2 million, with net income attributable to the partnership at $47.2 million.
Common unitholders earned $0.10 per unit versus a loss in the prior-year quarter, helped by stronger continuing operations and profitable discontinued operations. For the nine months, net income reached $147.7 million, and net cash from operating activities grew to $255.9 million, supporting significant common unit repurchases and redemptions of Class D preferred units.
NGL Energy Partners LP is calling a special meeting of unitholders on February 9, 2026 to vote on key governance and compensation items. Unitholders will be asked to approve a new 2025 Long-Term Incentive Plan authorizing up to 10,000,000 common units, which the Partnership estimates as potential dilution of about 7.95%. The Board notes there are currently no outstanding equity awards, and since June 5, 2024 the Partnership has repurchased 8,242,851 common units at a weighted average price of $5.49 per unit.
Unitholders will also vote on ratifying Grant Thornton LLP as independent registered public accounting firm for fiscal 2026; audit fees to Grant Thornton were $1.912 million in 2025 and $1.867 million in 2024. A third proposal would allow adjournment or postponement of the meeting, if needed, to continue soliciting votes on the incentive plan. The Board recommends voting FOR all three proposals.
NGL Energy Partners LP is calling a special meeting of unitholders on February 9, 2026, to approve a new 2025 Long-Term Incentive Plan, ratify its auditor, and allow potential adjournment of the meeting if more votes are needed on the incentive plan. The Board recommends voting FOR all three proposals.
The 2025 LTIP would authorize up to 10,000,000 common units for equity and equity-based awards, representing potential dilution of approximately 7.95% of the 124,269,915 common units outstanding as of December 18, 2025. NGL notes it has repurchased 8,242,851 common units since June 5, 2024 at a weighted average price of $5.49 per unit and currently has no outstanding equity awards. The plan includes governance features such as no discounted options, no repricing without unitholder approval, no evergreen share replenishment, and double-trigger vesting on a change of control.
Unitholders are also being asked to ratify Grant Thornton LLP as independent registered public accounting firm for fiscal 2026, with audit fees of $1.9 million for the year ended March 31, 2025.