Thu, Jun 6, 8:28 PM (283 days ago)
NGL Energy Partners LP's Form 10-K for the fiscal year ended March 31, 2024, highlights the company's financial performance, strategic initiatives, and risk factors. The company reported operational data across three segments: Water Solutions, Crude Oil Logistics, and Liquids Logistics. Key financial metrics include substantial debt refinancing of $2.9 billion, comprising $2.2 billion in senior secured notes and a $700 million term loan B facility. The company focuses on generating stable cash flows through long-term, fixed-fee contracts and strategic acquisitions. NGL Energy Partners aims to reduce debt, improve liquidity, and potentially reinstate common unit distributions. Risk factors include commodity price fluctuations, regulatory changes, competition, and operational disruptions. The company’s financial condition is supported by strategic asset expansions and a diversified revenue base.