Business
NGL Energy Partners LP Announces Recent Asset Sales and Other Cash Proceeds Totaling Approximately $270 Million
TULSA, Okla., May 05, 2025--NGL Energy Partners LP Announces Recent Asset Sales and Other Cash Proceeds Totaling Approximately $270 Million
About this update from Ngl Energy Partners Lp
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":251,"url":"https://media.zenfs.com/en/business-wire.com/128e063abcf04cf1491f8936fe78319f"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/Os5t9dcU4CFaKYjcHWYdqw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTUwMjtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/128e063abcf04cf1491f8936fe78319f","width":480,"height":251}},"lazy":false},{"type":"text","content":"TULSA, Okla., May 05, 2025--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE:NGL) ("NGL," or the "Partnership") announces the closing of multiple asset sales, including the previously announced sale of 17 of its natural gas liquids terminals and the Green Bay terminal. In addition, NGL closed on the sale of its Rack Marketing refined products business, its Limestone Ranch ownership, and our remaining crude rail car fleet and other miscellaneous proceeds. These non-core asset sales allow NGL to focus on its core assets in the portfolio and redirect the capital to improving the capital structure.","length":618,"tagName":"p"},{"type":"text","content":""These asset sales reduce the volatility and seasonality of our Adjusted EBITDA and working capital requirements. The proceeds will be used to pay off the remaining ABL balance and the excess cash will be used for additional deleveraging and addressing other parts of our capital structure," commented Mike Krimbill, CEO of NGL.","length":338,"tagName":"p"},{"type":"text","content":"Forward-Looking Statements","length":26,"tagName":"p"},{"type":"text","content":"Certain matters contained in this press release include "forward-looking statements." All statements, other than statements of historical fact, included in this press release may constitute forwarding-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will prove correct. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. Factors that might cause actual results to differ include, but are not limited to,...