NGL Energy Partners LP : Quarterly Investor Presentation
NGL
Published on 05/29/2025 at 16:44
May 2025
NYSE: NGL
Solutions
Provides water transportation, treating, recycling, and handling services for upstream customers
8%
10%
$542.0 MM
82%
NGL Total EBITDA by Segment $661.7 MM(1)
Largest integrated water solutions network of injection wells and large diameter pipe in the Delaware Basin
Predictable cash flows supported by long-term fixed fee contracts, acreage
dedications and minimum volume commitments
Logistics
Purchases crude oil from producers and marketers for sale at multiple refineries and trading hubs
8%
10%
$66.4 MM
82%
Network of owned storage, terminal and transportation services, including Grand Mesa Pipeline
Supported by acreage dedications and minimum volume commitments
Logistics
Supplier of NGL's to a broad range of end-users across the United States and Canada
8%
10%
$53.3 MM
82%
Operations are conducted through five owned terminals, third-party storage and terminal facilities, nine common carrier pipelines and a fleet of leased railcars
Provides marine exports of butane through owned facility located in Chesapeake, VA
Owner of Ambassador Pipeline in Michigan, the largest retail propane demand state in the U.S.
2
EBITDA values reflect full year Fiscal 2025 and does not include corporate or discontinued operations
April 25 2024
The final arrearage payment was made to the unit holders for all preferred classes (Class B, Class C, and Class D) making NGL current on all preferred units.
August 5 2024
We amended the Term Loan B agreement to reduce the SOFR margin from 4.5% to 3.75%
May 5 2025
Announced non-core asset sales for a total of approximately $270 million.
June 5 2024
The board of directors of our general partner authorized a common unit repurchase program, under which we may repurchase up to $50.0 million of our outstanding common units from time to time in the open market or in other privately negotiated transactions. This program does not have a fixed expiration date.
October 15 2024
The LEX II water pipeline project with initial capacity of 200,000 barrels per day that is expandable to 500,000 barrels per day went into service.
3
NGL Water Solutions has materially transformed into the largest integrated water disposal system in the Delaware Basin underpinned by long term MVC and acreage dedications, with investment grade counterparties.
3,000,000
2,500,000
barrels per day
2,000,000
1,500,000
1,000,000
500,000
-
$0.30
2,625,349
2,327,337
2,416,877
$0.28
$0.26
$/barrel
$0.24
$0.22
$0.20
190,917
174,772
$0.18
99,014
$0.16
FY '23 FY '24 FY '25
770,000
750,000
730,000
710,000
6G0,000
670,000
MVC volumes BPD Produced Water Processed BPD OPEX/bbl processed OPEX/ bbl Processed + MVC
650,000
664,000
765,000
670,000
FY '23 FY '24 FY '25
4
Statistics shown are for all basins.
Statistics are for the Delaware Basin only.
NGL owns and operates the largest, integrated network of large diameter produced water pipelines (over 800 miles(1)) and disposal facilities (~5,100 MBbl/d of permitted disposal capacity) in the Delaware Basin
Hub-and-Spoke system purpose-built to provide significant redundancy,
flexibility, and maximum reliability to customers, and capital efficiencies for NGL to accommodate future volume growth using existing disposal capacity or by adding incremental capacity at a fraction of the cost vs. competitors
Robust free cash flow generation driven by long-haul pipeline transportation model (no wellhead or infield gathering capex obligations) and a fully built-out, large diameter pipeline and disposal system constructed to provide substantial capacity in anticipation of future volume growth (1)
Asset supported by long-term, fixed-fee contracts underpinned by material MVCs and major acreage dedications with ~80% of current throughput from Investment Grade Counterparties
System spans six counties in New Mexico and Texas representing the most prolific crude oil producing areas in the U.S. with the most economic resource (low- to mid-$30/BBL break evens)
High water-to-oil ratios (~3.0x - 4.0x+) and low percentage of flowback water on NGL's system gives an important advantage compared to those in other shale plays
Established reputation as a best-in-the-business operator of produced water midstream infrastructure and a proven track record of reliability and excellence that other competitors may be unable to offer
5
The majority of NGL's Delaware system pipelines are 16" - 30" diameters
Includes 27-miles of pipeline associated with LEX II.
Disclaimer
NGL Energy Partners LP published this content on May 29, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 29, 2025 at 20:43 UTC.