NGL Energy Partners LP
NYSE:NGL
NGL Energy Partners LP
NGL Energy Partners LP is an energy partnership that transports, treats, recycles, and disposes of produced water generated as part of the energy production process. The company is headquartered in Tulsa, Oklahoma and currently employs 997 full-time employees. The company went IPO on 2011-05-12. The company operates through three segments: Water Solutions segment, Crude Oil Logistics segment, and Liquids Logistics segment. Its Water Solutions segment transports, treats, recycles, and disposes of produced and flowback water generated from oil and natural gas production. Its Crude Oil Logistics segment purchases crude oil from producers and marketers and transports it to refineries or for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs, and provides storage, terminating, and transportation services through its owned assets. Its Liquids Logistics segment conducts supply operations for natural gas liquids, refined petroleum products and biodiesel to a broad range of commercial, retail, and industrial customers across the United States and Canada. The company sells produced water for reuse and brackish non-potable water.
NGL Energy Partners LP is an energy partnership that transports, treats, recycles, and disposes of produced water generated as part of the energy production process. The company is headquartered in Tulsa, Oklahoma and currently employs 997 full-time employees. The company went IPO on 2011-05-12. The company operates through three segments: Water Solutions segment, Crude Oil Logistics segment, and Liquids Logistics segment. Its Water Solutions segment transports, treats, recycles, and disposes of produced and flowback water generated from oil and natural gas production. Its Crude Oil Logistics segment purchases crude oil from producers and marketers and transports it to refineries or for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs, and provides storage, terminating, and transportation services through its owned assets. Its Liquids Logistics segment conducts supply operations for natural gas liquids, refined petroleum products and biodiesel to a broad range of commercial, retail, and industrial customers across the United States and Canada. The company sells produced water for reuse and brackish non-potable water.
Record Water Volumes: NGL delivered record water disposal volumes, reaching 3.07 million barrels per day in Q3 and over 3.5 million barrels in a single day in January.
EBITDA Growth: Adjusted EBITDA from continuing operations rose 9.2% year-over-year to $172.5 million, with the Water Solutions segment driving most of the increase.
Financial Strategy: The company continued redeeming higher-cost preferred equity and repurchasing common units, eliminating about 15% of Class D preferreds and reducing share dilution by roughly 25%.
Guidance Maintained: Full-year EBITDA guidance remains at $650–660 million, with management projecting to exceed $700 million in fiscal 2027.
AI & Efficiency: Ongoing AI and machine-learning initiatives are already contributing to operational efficiency and cost reduction, with more impact expected over time.
Desalination Strategy: NGL is pursuing large-scale water treatment in partnership with Natura Resources, but near-term capital requirements remain unchanged.
