Key Developments: NGL Energy Partners LP (NGL)
29.38USD
17 May 2013
$-0.07 (-0.24%)
$29.45
$28.88
$29.45
$28.88
42,861
124,769
$30.00
$20.69
Latest Key Developments (Source: Significant Developments)
NGL Energy Partners LP Announces Appointment of New Chief Financial Officer
NGL Energy Partners LP announced that Atanas H. Atanasov has been appointed Chief Financial Officer. Full Article
NGL Energy Partners LP Announces Fourth Quarter Increased Cash Distribution
NGL Energy Partners LP announced that Board of Directors of its general partner increased the quarterly cash distribution for the fourth fiscal quarter ended March 31, 2013, by $0.015 to $0.4775 per outstanding limited partner unit from $0.4625 per unit, resulting in an annualized cash distribution of $1.91 per unit. This distribution is payable on May 15, 2013, to unitholders of record as of the close of business on May 6, 2013. Full Article
NGL Energy Partners LP Announces Third Quarter Increased Cash Distribution
NGL Energy Partners LP announced that the Board of Directors of its general partner increased the quarterly cash distribution for the third fiscal quarter ended December 31, 2012, by $.0125 to $0.4625 per outstanding limited partner unit from $0.45 per unit, resulting in an annualized cash distribution of $1.85 per unit. This distribution is payable on February 14, 2013, to unitholders of record entitled to receive the distribution at the close of business on February 4, 2013. Full Article
NGL Energy Partners LP Completes Acquisition Of Pecos Gathering & Marketing LLC
NGL Energy Partners LP announced that it has completed its previously announced acquisition of the limited liability company membership interests in Pecos Gathering & Marketing LLC and its affiliated companies (Pecos). The assets of Pecos consist primarily of crude oil purchasing and logistics operations in the Permian and Eagle Ford areas in Texas and New Mexico, along with related contracts, permits and real and personal property. Pecos purchases, gathers and/or transports 60,000 barrels per day of production and operates approximately 140 trucks. Full Article
NGL Energy Partners LP Increases Quarterly Distribution
NGL Energy Partners LP announced that the board of directors of its general partner has approved a quarterly cash distribution of $.45 per unit ($1.80 on an annualized basis) for the quarter ended September 30, 2012. The cash distribution will be paid November 14, 2012, to unitholders of record as of the close of business on October 29, 2012, entitled to receive the distribution and on the general partner’s 0.1% interest in the Partnership. This distribution represents a 9% increase over the quarterly distribution of $.4125 per unit ($1.65 on an annualized basis) paid in August 2012 for the quarter ended June 30, 2012. Full Article
NGL Energy Partners LP Increases Quarterly Distribution
NGL Energy Partners LP announced that the board of directors of its general partner has approved a quarterly cash distribution of $.4125 per unit ($1.65 on an annualized basis) for the quarter ended June 30, 2012. The cash distribution will be paid August 14, 2012, to unitholders of record as of the close of business on August 3, 2012. This distribution represents a 13.8% increase over the quarterly distribution of $.3625 per unit ($1.45 on an annualized basis) paid in May 2012 for the quarter ended March 31, 2012. Full Article
NGL Energy Partners LP Announces Merger with High Sierra Energy LP
NGL Energy Partners LP announced the signing of merger agreements with High Sierra Energy LP and High Sierra Energy GP, LLC (its general partner). NGL will exchange common units and contribute cash for the equity interests in the High Sierra entities. The combined consideration for the HSE entities is $693 million less assumed net debt. Based upon the expected outstanding indebtedness of the HSE entities as of closing, the equity portion is expected to be approximately $433 million and the cash portion will be approximately $150 million. Closing is anticipated in early June upon satisfaction of certain conditions including approval of the merger by requisite HSE unitholders and expiration of the Hart Scott Rodino waiting period. High Sierra Energy is a Denver, Colorado based limited partnership with three core business segments: crude oil gathering, transportation and marketing; water treatment, disposal, recycling and transportation; and natural gas liquids transportation and marketing. Robert W. Baird & Co. Incorporated is serving as financial advisor to NGL Energy Partners in the transaction, while Winston & Strawn LLP is serving as legal counsel. Full Article
NGL Energy Partners LP Completes Acquisition Of Downeast Energy Corporation's Assets
NGL Energy Partners LP announced that it has completed its previously announced acquisition of Downeast Energy Corporation’s assets in exchange for a combination of cash and NGL Common Units. The assets contributed by Downeast are located in Maine and New Hampshire. Full Article
NGL Energy Partners LP Announces Agreement With Downeast Energy Corporation
NGL Energy Partners LP announced the signing of an agreement with Downeast Energy Corporation to acquire assets located in Maine and New Hampshire for a combination of cash and NGL Common Units. Downeast is a customer focused operation which has a long history of serving the energy needs of over 50,000 customers in the New England markets. The transaction is expected to close at the end of April or early May. Full Article
NGL Energy Partners LP Approves Dividend
NGL Energy Partners LP announced that the board of directors of its general partner has approved a quarterly cash distribution of $.3625 per unit ($1.45 on an annualized basis) for the quarter ended March 31, 2012. The cash distribution will be paid May 15, 2012, to unitholders of record as of the close of business on April 30, 2012. This distribution represents a 3.6% increase over the quarterly distribution of $.35 per unit ($1.40 on an annualized basis) paid in February 2012 and a 7.4% increase over the distribution declared for the quarter ended September 2011. Full Article
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