NGL Energy Partners LP (NGL) Q1 2027 Earnings Call

Investor webinar replay

Replay transcript excerpt

Greetings. Welcome to the NGL Energy Partners 1Q27 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to your host, Brad Cooper, CFO. You may begin. Good afternoon and thank you to everyone for joining us on the call today. Our comments today will include plans, forecasts, and estimates that are forward-looking statements under the U.S. Securities Law. These comments are subject to assumptions, risks, and uncertainties that could cause actual results to differ from the forward-looking statements. Please take note of the cautionary language and risk factors provided in our presentation materials and our other public disclosure materials. We are pleased to report a strong start to fiscal 2027 and continued execution on our multi-year strategy of deleveraging the balance sheet through high return water growth projects. This positions the partnership to continue to address the Class D preferreds later this fiscal year. During the first quarter, we hit record produced water volumes physically disposing of approximately 3.32 million barrels per day during the first quarter, growing 19.6% from the first quarter of fiscal 2026. The record water volumes also generated record water solutions adjusted EBITDA for a single quarter. We are seeing the growth capital spend and the 500,000 barrels per day of producer commitments signed in fiscal 2026 flowing through our fiscal 2027 financials. These results validate the highly accretive investments we made throughout fiscal 2026 and further demonstra...