NGL Energy Partners LP (NYSE:NGL) (“NGL,” “our,” “we,” or the
“Partnership”) today reported its first quarter Fiscal 2024
financial results. Highlights include:
- Net income for the first quarter of Fiscal 2024 of $19.6
million, compared to net income of $23.1 million for the first
quarter of Fiscal 2023
- Adjusted EBITDA(1) for the first quarter of Fiscal 2024 of
$134.7 million, compared to $123.9 million for the first quarter of
Fiscal 2023
- Produced water volumes processed of approximately 2.46 million
barrels per day during the first quarter of Fiscal 2024, growing
14.1% from the first quarter of Fiscal 2023
- Water Solutions’ quarterly Adjusted EBITDA(1) of $123.2 million
for the first quarter of Fiscal 2024, a 17.3% increase compared to
the first quarter of Fiscal 2023
- Increasing asset sales guidance from $50 million to $75 million
in Fiscal 2024
- Reducing growth capital expenditures by $10 million, from $75
million to $65 million
“Our Water Solutions segment achieved strong Adjusted EBITDA(1)
growth of 17.3% in the 1st quarter versus the same period in the
prior year, with disposal volumes increasing 14.1%. During the
quarter we purchased $99.3 million of the 2025 unsecured notes,
leaving a very manageable outstanding balance of $280.7 million. We
will continue to utilize operational free cash flow, reduced
working capital, and proceeds from asset sales to further improve
the balance sheet. We are reaffirming our full year consolidated
Adjusted EBITDA(2) guidance of $645 million plus,” stated Mike
Krimbill NGL’s CEO.
Quarterly Results of Operations
The following table summarizes operating income (loss) and
Adjusted EBITDA(1) by reportable segment for the periods
indicated:
Quarter Ended
June 30, 2023
June 30, 2022
Operating Income
(Loss)
Adjusted EBITDA(1)
Operating Income
(Loss)
Adjusted EBITDA(1)
(in thousands)
Water Solutions
$
69,331
$
123,194
$
53,605
$
105,047
Crude Oil Logistics
17,007
23,791
18,989
15,078
Liquids Logistics
7,831
4,749
26,640
12,901
Corporate and Other
(22,149
)
(17,079
)
(11,971
)
(9,150
)
Total
$
72,020
$
134,655
$
87,263
$
123,876
_____________________________
(1) See the “Non-GAAP Financial Measures”
section of this release for the definition of Adjusted EBITDA (as
used herein) and a discussion of this non-GAAP financial
measure.
(2) Certain of the forward-looking
financial measures are provided on a non-GAAP basis. A
reconciliation of forward-looking financial measures to the most
directly comparable financial measures calculated and presented in
accordance with GAAP is potentially misleading and not practical
given the difficulty of projecting event driven transactional and
other non-core operating items in any future period. The magnitude
of these items, however, may be significant.
Water Solutions
Operating income for the Water Solutions segment increased $15.7
million for the quarter ended June 30, 2023, compared to the
quarter ended June 30, 2022. The Partnership processed
approximately 2.46 million barrels of produced water per day during
the quarter ended June 30, 2023, a 14.1% increase when compared to
approximately 2.15 million barrels of water per day processed
during the quarter ended June 30, 2022. This increase was due to an
increase in produced water volumes processed from contracted
customers mainly in the Delaware Basin, increased fees from new
contracts entered into during fiscal year 2023 and higher fees
charged for interruptible spot volumes.
Revenues from recovered skim oil totaled $23.0 million for the
quarter ended June 30, 2023, a decrease of $15.4 million from the
prior year period. This decrease was due primarily to lower
realized crude oil prices received from the sale of skim oil
barrels and lower skim oil volumes per barrel of produced water
processed. While the amount of skim oil recovered was in line with
historical averages, a certain amount of skim oil barrels was
stored due to tighter pipeline specifications which reduced the
amount of skim oil sold during the quarter. We expect to sell both
stored and ongoing production of skim oil during the second quarter
of fiscal year 2024.
Operating expenses in the Water Solutions segment increased $6.9
million for the quarter ended June 30, 2023, compared to the
quarter ended June 30, 2022 due to increased produced water volumes
processed while operating expense per produced barrel processed was
$0.25 for the quarter ended June 30, 2023, compared to $0.25 in the
comparative quarter last year.
Crude Oil Logistics
Operating income for the Crude Oil Logistics segment decreased
$2.0 million for the quarter ended June 30, 2023, compared to the
quarter ended June 30, 2022. The decrease was due to the sale of
higher priced inventory into a market in which prices are
declining. The lower crude oil prices resulted in lower contracted
rates with certain producers, compared to the prior year. During
the three months ended June 30, 2023, physical volumes on the Grand
Mesa Pipeline averaged approximately 72,000 barrels per day,
compared to approximately 79,000 barrels per day for the three
months ended June 30, 2022, as lower demand for heavier crude oil
grades, and resulting lower crude oil prices, resulted in lower
contracted volumes. The decrease in operating income was offset by
an increase in derivative gains of $33.1 million and lower
operating and general and administrative expenses of $2.1 million,
primarily related to the sale of our marine assets on March 30,
2023.
Liquids Logistics
Operating income for the Liquids Logistics segment decreased by
$18.8 million for the quarter ended June 30, 2023, compared to the
quarter ended June 30, 2022. The decline was primarily due to lower
propane, butane and other product margins. Propane margins declined
due to declining prices and weaker demand as the warm winter in the
Northeast caused customers to pull their volumes later in the
season and which carried them through the spring. Butane product
margins declined as prices and volumes were lower due to weak spot
and export markets. Margins for other product sales decreased due
to an increase in supply in the market as the final renewable fuel
standards mandate released by the EPA lowered the required amount
of biodiesel required for blending. This decrease was offset by an
increase in derivative gains of $19.7 million and increased refined
products margin as a result of continuing to be well positioned
from a supply and inventory perspective in certain markets
experiencing tight supply during the first part of the current
quarter.
Corporate and Other
The operating loss for the quarter ended June 30, 2023 includes
losses from derivatives of $4.2 million. We have entered into
economic hedges to protect our liquidity positions and leverage
from a significant increase in commodity prices that drive our
working capital demands, as we experienced in the prior fiscal
year, thus impacting our ability to reduce absolute indebtedness
until commodity prices weakened. These positions will expire
between August 2023 and December 2023. Incentive compensation was
also higher compared to the prior year quarter due to the timing of
payments compared to the prior year when incentive compensation was
paid during the second quarter of our fiscal year.
Capitalization and Liquidity
Total liquidity (cash plus available capacity on our asset-based
revolving credit facility (“ABL Facility”)) was approximately
$286.1 million as of June 30, 2023. Borrowings on the Partnership’s
ABL Facility totaled approximately $180.0 million. The increase
from March 31, 2023 was primarily due to increases in working
capital balances driven by increased inventory volumes and higher
net account receivable balances.
The Partnership is in compliance with all of its debt covenants
and has no significant debt maturities before March 2025.
First Quarter Conference Call Information
A conference call to discuss NGL’s results of operations is
scheduled for 4:30 pm Central Time on Wednesday, August 9, 2023.
Analysts, investors, and other interested parties may join the
webcast via the event link:
https://www.webcaster4.com/Webcast/Page/2808/48748 or by dialing
(888) 506-0062 and providing access code: 715919. An archived audio
replay of the call will be available for 14 days, which can be
accessed by dialing (877) 481-4010 and providing replay passcode
48748.
Non-GAAP Financial Measures
NGL defines EBITDA as net income (loss) attributable to NGL
Energy Partners LP, plus interest expense, income tax expense
(benefit), and depreciation and amortization expense. NGL defines
Adjusted EBITDA as EBITDA excluding net unrealized gains and losses
on derivatives, lower of cost or net realizable value adjustments,
gains and losses on disposal or impairment of assets, gains and
losses on early extinguishment of liabilities, equity-based
compensation expense, acquisition expense, revaluation of
liabilities, certain legal settlements and other. NGL also includes
in Adjusted EBITDA certain inventory valuation adjustments related
to certain refined products businesses within NGL’s Liquids
Logistics segment as discussed below. EBITDA and Adjusted EBITDA
should not be considered as alternatives to net income, income
before income taxes, cash flows from operating activities, or any
other measure of financial performance calculated in accordance
with GAAP, as those items are used to measure operating
performance, liquidity or the ability to service debt obligations.
NGL believes that EBITDA provides additional information to
investors for evaluating NGL’s ability to make quarterly
distributions to NGL’s unitholders and is presented solely as a
supplemental measure. NGL believes that Adjusted EBITDA provides
additional information to investors for evaluating NGL’s financial
performance without regard to NGL’s financing methods, capital
structure and historical cost basis. Further, EBITDA and Adjusted
EBITDA, as NGL defines them, may not be comparable to EBITDA,
Adjusted EBITDA, or similarly titled measures used by other
entities.
Other than for certain businesses within NGL’s Liquids Logistics
segment, for purposes of the Adjusted EBITDA calculation, NGL makes
a distinction between realized and unrealized gains and losses on
derivatives. During the period when a derivative contract is open,
NGL records changes in the fair value of the derivative as an
unrealized gain or loss. When a derivative contract matures or is
settled, NGL reverses the previously recorded unrealized gain or
loss and records a realized gain or loss. NGL does not draw such a
distinction between realized and unrealized gains and losses on
derivatives of certain businesses within NGL’s Liquids Logistics
segment. The primary hedging strategy of these businesses is to
hedge against the risk of declines in the value of inventory over
the course of the contract cycle, and many of the hedges cover
extended periods of time. The “inventory valuation adjustment” row
in the reconciliation table reflects the difference between the
market value of the inventory of these businesses at the balance
sheet date and its cost. NGL includes this in Adjusted EBITDA
because the unrealized gains and losses associated with derivative
contracts associated with the inventory of this segment, which are
intended primarily to hedge inventory holding risk and are included
in net income, also affect Adjusted EBITDA. In NGL’s Crude Oil
Logistics segment, they purchase certain crude oil barrels using
the West Texas Intermediate (“WTI”) calendar month average (“CMA”)
price and sell the crude oil barrels using the WTI CMA price plus
the Argus CMA Differential Roll Component (“CMA Differential Roll”)
per NGL’s contracts. To eliminate the volatility of the CMA
Differential Roll, NGL entered into derivative instrument positions
in January 2021 to secure a margin of approximately $0.20 per
barrel on 1.5 million barrels per month from May 2021 through
December 2023. Due to the nature of these positions, the cash flow
and earnings recognized on a GAAP basis will differ from period to
period depending on the current crude oil price and future
estimated crude oil price which are valued utilizing third-party
market quoted prices. NGL is recognizing in Adjusted EBITDA the
gains and losses from the derivative instrument positions entered
into in January 2021 to properly align with the physical margin NGL
is hedging each month through the term of this transaction. This
representation aligns with management’s evaluation of the
transaction.
Distributable Cash Flow is defined as Adjusted EBITDA minus
maintenance capital expenditures, income tax expense, cash interest
expense, preferred unit distributions and other. Maintenance
capital expenditures represent capital expenditures necessary to
maintain the Partnership’s operating capacity. For the CMA
Differential Roll transaction, as discussed above, we have included
an adjustment to Distributable Cash Flow to reflect, in the period
for which they relate, the actual cash flows for the positions that
settled that are not being recognized in Adjusted EBITDA.
Distributable Cash Flow is a performance metric used by senior
management to compare cash flows generated by the Partnership
(excluding growth capital expenditures and prior to the
establishment of any retained cash reserves by the Board of
Directors) to the cash distributions expected to be paid to
unitholders. Using this metric, management can quickly compute the
coverage ratio of estimated cash flows to planned cash
distributions. This financial measure also is important to
investors as an indicator of whether the Partnership is generating
cash flow at a level that can sustain, or support an increase in,
quarterly distribution rates. Actual distribution amounts are set
by the Board of Directors.
We do not provide a reconciliation for non-GAAP estimates on a
forward-looking basis where we are unable to provide a meaningful
calculation or estimation of reconciling items and the information
is not available without unreasonable effort. This is due to the
inherent difficulty of forecasting the timing or amount of various
items that would impact the most directly comparable
forward-looking U.S. GAAP financial measure that have not yet
occurred, are out of the Partnership’s control and/or cannot be
reasonably predicted. Forward-looking non-GAAP financial measures
provided without the most directly comparable U.S. GAAP financial
measures may vary materially from the corresponding U.S. GAAP
financial measures.
Forward-Looking Statements
This press release includes “forward-looking statements.” All
statements other than statements of historical facts included or
incorporated herein may constitute forward-looking statements.
Actual results could vary significantly from those expressed or
implied in such statements and are subject to a number of risks and
uncertainties. While NGL believes such forward-looking statements
are reasonable, NGL cannot assure they will prove to be correct.
The forward-looking statements involve risks and uncertainties that
affect operations, financial performance, and other factors as
discussed in filings with the Securities and Exchange Commission.
Other factors that could impact any forward-looking statements are
those risks described in NGL’s Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q, and other public filings. You are
urged to carefully review and consider the cautionary statements
and other disclosures made in those filings, specifically those
under the heading “Risk Factors.” NGL undertakes no obligation to
publicly update or revise any forward-looking statements except as
required by law.
NGL provides Adjusted EBITDA guidance that does not include
certain charges and costs, which in future periods are generally
expected to be similar to the kinds of charges and costs excluded
from Adjusted EBITDA in prior periods, such as income taxes,
interest and other non-operating items, depreciation and
amortization, net unrealized gains and losses on derivatives, lower
of cost or net realizable value adjustments, gains and losses on
disposal or impairment of assets, gains and losses on early
extinguishment of liabilities, equity-based compensation expense,
acquisition expense, revaluation of liabilities and items that are
unusual in nature or infrequently occurring. The exclusion of these
charges and costs in future periods will have a significant impact
on the Partnership’s Adjusted EBITDA, and the Partnership is not
able to provide a reconciliation of its Adjusted EBITDA guidance to
net income (loss) without unreasonable efforts due to the
uncertainty and variability of the nature and amount of these
future charges and costs and the Partnership believes that such
reconciliation, if possible, would imply a degree of precision that
would be potentially confusing or misleading to investors.
About NGL Energy Partners LP
NGL Energy Partners LP, a Delaware limited partnership, is a
diversified midstream energy company that transports, stores,
markets and provides other logistics services for crude oil,
natural gas liquids and other products and transports, treats and
disposes of produced water generated as part of the oil and natural
gas production process.
For further information, visit the Partnership’s website at
www.nglenergypartners.com.
NGL ENERGY PARTNERS LP AND
SUBSIDIARIES
Unaudited Condensed
Consolidated Balance Sheets
(in Thousands, except unit
amounts)
June 30, 2023
March 31, 2023
ASSETS
CURRENT ASSETS:
Cash and cash equivalents
$
7,786
$
5,431
Accounts receivable-trade, net of
allowance for expected credit losses of $1,888 and $1,964,
respectively
892,266
1,033,956
Accounts receivable-affiliates
12,836
12,362
Inventories
185,638
142,607
Prepaid expenses and other current
assets
84,339
98,089
Total current assets
1,182,865
1,292,445
PROPERTY, PLANT AND EQUIPMENT, net of
accumulated depreciation of $921,300 and $898,184, respectively
2,196,845
2,223,380
GOODWILL
712,364
712,364
INTANGIBLE ASSETS, net of accumulated
amortization of $600,613 and $580,860, respectively
1,038,775
1,058,668
INVESTMENTS IN UNCONSOLIDATED ENTITIES
20,049
21,090
OPERATING LEASE RIGHT-OF-USE ASSETS
97,327
90,220
OTHER NONCURRENT ASSETS
57,429
57,977
Total assets
$
5,305,654
$
5,456,144
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Accounts payable-trade
$
773,678
$
927,591
Accounts payable-affiliates
55
65
Accrued expenses and other payables
159,408
133,616
Advance payments received from
customers
19,026
14,699
Operating lease obligations
34,702
34,166
Total current liabilities
986,869
1,110,137
LONG-TERM DEBT, net of debt issuance costs
of $27,040 and $30,117, respectively, and current maturities
2,803,607
2,857,805
OPERATING LEASE OBLIGATIONS
64,998
58,450
OTHER NONCURRENT LIABILITIES
111,978
111,226
CLASS D 9.00% PREFERRED UNITS, 600,000 and
600,000 preferred units issued and outstanding, respectively
551,097
551,097
EQUITY:
General partner, representing a 0.1%
interest, 132,059 and 132,059 notional units, respectively
(52,565
)
(52,551
)
Limited partners, representing a 99.9%
interest, 131,927,343 and 131,927,343 common units issued and
outstanding, respectively
475,353
455,564
Class B preferred limited partners,
12,585,642 and 12,585,642 preferred units issued and outstanding,
respectively
305,468
305,468
Class C preferred limited partners,
1,800,000 and 1,800,000 preferred units issued and outstanding,
respectively
42,891
42,891
Accumulated other comprehensive loss
(434
)
(450
)
Noncontrolling interests
16,392
16,507
Total equity
787,105
767,429
Total liabilities and equity
$
5,305,654
$
5,456,144
NGL ENERGY PARTNERS LP AND
SUBSIDIARIES
Unaudited Condensed
Consolidated Statements of Operations
(in Thousands, except unit and
per unit amounts)
Three Months Ended June
30,
2023
2022
REVENUES:
Water Solutions
$
181,302
$
166,079
Crude Oil Logistics
464,390
865,371
Liquids Logistics
970,412
1,465,933
Total Revenues
1,616,104
2,497,383
COST OF SALES:
Water Solutions
2,569
10,225
Crude Oil Logistics
425,299
822,370
Liquids Logistics
947,247
1,422,416
Corporate and Other
4,214
—
Total Cost of Sales
1,379,329
2,255,011
OPERATING COSTS AND EXPENSES:
Operating
76,681
71,860
General and administrative
20,291
16,757
Depreciation and amortization
68,979
66,660
Gain on disposal or impairment of assets,
net
(1,196
)
(168
)
Operating Income
72,020
87,263
OTHER INCOME (EXPENSE):
Equity in earnings of unconsolidated
entities
91
674
Interest expense
(59,522
)
(67,311
)
Gain on early extinguishment of
liabilities, net
6,808
1,662
Other income, net
306
646
Income Before Income Taxes
19,703
22,934
INCOME TAX (EXPENSE) BENEFIT
(140
)
172
Net Income
19,563
23,106
LESS: NET INCOME ATTRIBUTABLE TO
NONCONTROLLING INTERESTS
(262
)
(245
)
NET INCOME ATTRIBUTABLE TO NGL ENERGY
PARTNERS LP
$
19,301
$
22,861
NET LOSS ALLOCATED TO COMMON
UNITHOLDERS
$
(14,482
)
$
(4,679
)
BASIC AND DILUTED LOSS PER COMMON UNIT
$
(0.11
)
$
(0.04
)
BASIC WEIGHTED AVERAGE COMMON UNITS
OUTSTANDING
131,927,343
130,695,970
DILUTED WEIGHTED AVERAGE COMMON UNITS
OUTSTANDING
131,927,343
130,695,970
EBITDA, ADJUSTED EBITDA AND
DISTRIBUTABLE CASH FLOW RECONCILIATION
(Unaudited)
The following table reconciles NGL’s net
income to NGL’s EBITDA, Adjusted EBITDA and Distributable Cash
Flow:
Three Months Ended June
30,
2023
2022
(in thousands)
Net income
$
19,563
$
23,106
Less: Net income attributable to
noncontrolling interests
(262
)
(245
)
Net income attributable to NGL Energy
Partners LP
19,301
22,861
Interest expense
59,536
67,326
Income tax expense (benefit)
140
(172
)
Depreciation and amortization
68,921
66,614
EBITDA
147,898
156,629
Net unrealized gains on derivatives
(632
)
(56,902
)
CMA Differential Roll net losses (gains)
(1)
(9,137
)
34,620
Inventory valuation adjustment (2)
336
(555
)
Lower of cost or net realizable value
adjustments
2,764
(9,286
)
Gain on disposal or impairment of assets,
net
(1,196
)
(168
)
Gain on early extinguishment of
liabilities, net
(6,808
)
(1,662
)
Equity-based compensation expense
474
497
Acquisition expense (3)
5
—
Other (4)
951
703
Adjusted EBITDA
$
134,655
$
123,876
Less: Cash interest expense (5)
55,411
63,125
Less: Income tax expense (benefit)
140
(172
)
Less: Maintenance capital expenditures
16,527
15,367
Less: CMA Differential Roll (6)
(10,695
)
18,208
Less: Other (7)
218
93
Distributable Cash Flow
$
73,054
$
27,255
_____________________________
(1)
Adjustment to align, within Adjusted
EBITDA, the net gains and losses of the Partnership’s CMA
Differential Roll derivative instruments positions with the
physical margin being hedged. See “Non-GAAP Financial Measures”
section above for a further discussion.
(2)
Amounts represent the difference between
the market value of the inventory at the balance sheet date and its
cost. See “Non-GAAP Financial Measures” section above for a further
discussion.
(3)
Amount represents expenses we incurred
related to legal and advisory costs associated with
acquisitions.
(4)
Amounts represent unrealized gains/losses
on marketable securities and accretion expense for asset retirement
obligations. Also, the amount for the three months ended June 30,
2022 includes non-cash operating expenses related to our Grand Mesa
Pipeline.
(5)
Amounts represent interest expense payable
in cash, excluding changes in the accrued interest balance.
(6)
Amount represents the cash portion of the
adjustments of the Partnership’s CMA Differential Roll derivative
instrument positions, as discussed above, that settled during the
period.
(7)
Amounts represents cash paid to settle
asset retirement obligations.
ADJUSTED EBITDA RECONCILIATION BY
SEGMENT
Three Months Ended June 30,
2023
Water Solutions
Crude Oil
Logistics
Liquids
Logistics
Corporate and
Other
Consolidated
(in thousands)
Operating income (loss)
$
69,331
$
17,007
$
7,831
$
(22,149
)
$
72,020
Depreciation and amortization
54,423
9,746
3,214
1,596
68,979
Amortization recorded to cost of sales
—
—
65
—
65
Net unrealized losses (gains) on
derivatives
—
5,135
(8,719
)
2,952
(632
)
CMA Differential Roll net losses
(gains)
—
(9,137
)
—
—
(9,137
)
Inventory valuation adjustment
—
—
336
—
336
Lower of cost or net realizable value
adjustments
—
—
2,764
—
2,764
(Gain) loss on disposal or impairment of
assets, net
(1,281
)
896
(811
)
—
(1,196
)
Equity-based compensation expense
—
—
—
474
474
Acquisition expense
1
—
19
(15
)
5
Other income, net
180
106
1
19
306
Adjusted EBITDA attributable to
unconsolidated entities
227
—
(5
)
44
266
Adjusted EBITDA attributable to
noncontrolling interest
(546
)
—
—
—
(546
)
Other
859
38
54
—
951
Adjusted EBITDA
$
123,194
$
23,791
$
4,749
$
(17,079
)
$
134,655
Three Months Ended June 30,
2022
Water Solutions
Crude Oil
Logistics
Liquids
Logistics
Corporate and
Other
Consolidated
(in thousands)
Operating income (loss)
$
53,605
$
18,989
$
26,640
$
(11,971
)
$
87,263
Depreciation and amortization
49,848
11,754
3,381
1,677
66,660
Amortization recorded to cost of sales
—
—
68
—
68
Net unrealized gains on derivatives
(124
)
(51,005
)
(5,773
)
—
(56,902
)
CMA Differential Roll net losses
(gains)
—
34,620
—
—
34,620
Inventory valuation adjustment
—
—
(555
)
—
(555
)
Lower of cost or net realizable value
adjustments
—
1,567
(10,853
)
—
(9,286
)
Loss (gain) on disposal or impairment of
assets, net
941
(1,260
)
—
151
(168
)
Equity-based compensation expense
—
—
—
497
497
Other income (expense), net
259
28
(93
)
452
646
Adjusted EBITDA attributable to
unconsolidated entities
825
—
(7
)
44
862
Adjusted EBITDA attributable to
noncontrolling interest
(532
)
—
—
—
(532
)
Other
225
385
93
—
703
Adjusted EBITDA
$
105,047
$
15,078
$
12,901
$
(9,150
)
$
123,876
OPERATIONAL DATA
(Unaudited)
Three Months Ended
June 30,
2023
2022
(in thousands, except per day
amounts)
Water Solutions:
Produced water processed (barrels per
day)
Delaware Basin
2,153,059
1,887,230
Eagle Ford Basin
132,934
98,513
DJ Basin
169,494
150,329
Other Basins
2,978
17,886
Total
2,458,465
2,153,958
Recycled water (barrels per day)
99,436
136,925
Total (barrels per day)
2,557,901
2,290,883
Skim oil sold (barrels per day)
3,710
3,957
Crude Oil Logistics:
Crude oil sold (barrels)
6,007
7,634
Crude oil transported on owned pipelines
(barrels)
6,563
7,170
Crude oil storage capacity - owned and
leased (barrels) (1)
5,232
5,232
Crude oil inventory (barrels) (1)
685
855
Liquids Logistics:
Refined products sold (gallons)
220,087
188,626
Propane sold (gallons)
139,753
164,844
Butane sold (gallons)
78,489
120,525
Other products sold (gallons)
91,099
93,637
Natural gas liquids and refined products
storage capacity - owned and leased (gallons) (1)
158,124
167,559
Refined products inventory (gallons)
(1)
504
1,110
Propane inventory (gallons) (1)
87,423
63,862
Butane inventory (gallons) (1)
69,632
49,547
Other products inventory (gallons) (1)
12,452
28,187
_____________________________
(1)
Information is presented as of June 30,
2023 and June 30, 2022, respectively.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230809987810/en/
David Sullivan, 918-495-4631 Vice President - Finance
David.Sullivan@nglep.com
NGL Energy Partners (NYSE:NGL)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024
NGL Energy Partners (NYSE:NGL)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024
