NGL Energy Partners: Price Is Wrong, Growth Is Right
There are 2 articles on this stock available only to PRO subscribers.
Fri, Sep. 5, 4:53 PM
- NGL Energy Partners (NYSE:NGL) announces a joint venture with Rimrock Midstream for the Grand Mesa crude oil pipeline from Weld County, Colo., to NGL's Cushing, Okla., terminal, with planned initial capacity exceeding 130K bbl/day.
- Based on sufficient commitments from shippers, Grand Mesa will launch a binding open season to solicit additional long-term volume commitments from customers.
Fri, Aug. 15, 3:57 PM
- NGL Energy Partners (NGL -1.9%) and TransMontaigne Partners (TLP +0.5%) say they have terminated discussions regarding NGL's non-binding proposal to acquire the outstanding units of TLP, unable to reach agreement on a price.
- NGL currently owns TransMontaigne GP and ~19.7% of the outstanding common units of TLP.
- Shares resume trading after a halt.
Mon, Aug. 11, 6:04 PM
Fri, Jul. 25, 12:45 PM
- NGL Energy Partners (NGL +0.9%) is higher after a favorable Barron's profile describes NGL as "different than the traditional MLP pipeline player."
- Some of NGL's assets "might not have the same cachet" as other midstream operations, but NGL has "built a really nice platform to deliver sustainable growth of distributions of 15% or more for the next several years," according to Swank Capital analyst David Askew.
- Investors may not have fully priced in NGL's recent acquisition of a stake in TransMontaigne, which Salient Capital's Greg Reid considers a "brilliant" deal that brought desirable, fee-based revenue at a distressed-sale price.
Thu, Jul. 10, 6:54 PM| Comment!
Wed, Jul. 9, 8:28 AM
- NGL Energy Partners (NGL) says it has added five new salt water disposal facilities, which include a total of six recently completed disposal wells, for a cumulative cost of ~$83M.
- NGL says the facilities will increase capacity by 140K bbl/day, bringing its total treatment and disposal capacity to 600K bbl/day.
- Annual EBITDA in the first year of operation is projected at $16M.
Thu, Jul. 3, 3:20 PM
- A recent surge of low-magnitude earthquakes in Oklahoma probably is the result of the underground disposal of vast quantities of wastewater generated by oil and gas extraction, according to a new study published today in the journal Science.
- The researchers also calculated that four of the highest-volume wells in Oklahoma are capable of triggering ~20% of recent central U.S. quakes, and found that such induced quakes could potentially occur more than 30 km from the well.
- The Cornell geophysics professor who led the study says the results suggest regulators and oil companies should avoid disposing of wastewater near major faults and do a better job monitoring the activity.
- Among energy firms with a significant Oklahoma presence: CHK, CLR, APA, DVN, SD, EOG, MRO, OKE, OKS, GPOR, WPX, WMB, WPZ, LPI, CWEI, NFX, NGL, COG, WLL, NBL, MPO, PQ, XEC.
Wed, Jun. 18, 9:12 AM
Tue, Jun. 17, 4:43 PM
- NGL Energy Partners (NGL) -3.6% AH after announcing a public offering of 8M common units, plus a 30-day option for the underwriters to purchase up to another 1.2M common units.
- NGL intends to use the proceeds to repay indebtedness and for general partnership purposes, including capital expenditures and potential acquisitions.
Mon, Jun. 16, 10:15 AM| Comment!
Mon, Jun. 9, 8:19 AM
- NGL Energy Partners (NGL) agrees to acquire a 19.7% stake in oil storage, marketing and transportation company TransMontaigne (TLP) from Morgan Stanley for $200M.
- The sale includes MS's general partner and limited partner interests in TLP, as well as related physical inventory and the assumption of MS's obligations under certain terminal storage contracts.
- TLP's assets include 48 fuel terminals with nearly 24M barrels of storage capacity on the Gulf coast, in Florida, the midwest and across the southeast, some of them located along the strategically important Colonial Pipeline that ships gasoline and diesel from the Gulf to the east coast.
Thu, Apr. 10, 10:46 AM
- Oklahoma is experiencing a noticeable increase in earthquakes near drilling sites, according to the Oklahoma Geological Survey, suggesting a potential link between fracking and seismic activity.
- The state already has experienced as many earthquakes YTD than all of last year combined: 109 earthquakes with a magnitude 3 or higher through April 6, the same number of earthquakes as in all of 2013.
- The incidents pose a conundrum for regulators in a state that has fully embraced oil and gas drilling.
- Among drillers with a significant Oklahoma presence: CHK, CLR, APA, DVN, SD, EOG, MRO, OKE, OKS, GPOR, WPX, WMB, WPZ, LPI, CWEI, NFX, NGL, COG, WLL, NBL, MPO, PQ, XEC
Fri, Mar. 7, 12:11 PM
- Two energy investors presenting at Capital Link's MLP stress the desirability of crude oil and natural gas liquids over natural gas, and the importance of geographic diversity in suggesting six MLPs to buy now.
- Kyri Loupis, head of energy and infrastructure at Goldman Sachs, likes Oiltanking Partners (OILT), Lehigh Gas Partners (LGP) and EQT Midstream Partners (EQM) - smaller MLPs with strong growth prospects, healthy balance sheets and small distribution obligations to general partners.
- Dan Spears, a portfolio manager at Swank Capital, prefers larger pipeline players Access Midstream Partners (ACMP), Energy Transfer Equity (ETE) and NGL Energy Partners (NGL).
Wed, Mar. 5, 11:59 AM
- Robert W. Baird refreshes its outlook for master limited partnerships with six downgrades: five high-growth partnerships that now look fairly valued - NGL Energy Partners (NGL -1.8%), New Source Energy (NSLP -4%), Plains GP Holdings (PAGP -0.3%), Summit Midstream Partners (SMLP -0.6%) and Tallgrass Energy Partners (TEP -2.7%) - and are cut to Neutral from Outperform, and a reduction for Whiting USA Trust II (WHZ -0.7%) to Underperform from Neutral on elevated commodity risk.
- The firm recommends recycling capital into its top investment ideas: ONEOK Partners (OKS -1.2%), Plains All American Pipeline (PAA +0.9%), Rose Rock Midstream (RRMS +0.2%) and Crosstex Energy LP (XTEX -1.5%)
- Despite downgrading multiple high-quality MLPs, Baird says its long-term bullish view on the sector remains unchanged (Briefing.com).
Dec. 4, 2013, 12:38 PM
- NGL Energy Partners (NGL) is initiated with a Buy rating and $37 price target at Wunderlich, which believes units offer an attractive balance of current yield and double-digit distribution growth with the potential for further valuation expansion.
- Since its 2011 IPO, NGL has announced ~$2.9B of acquisitions, significantly exceeding its initial targets and creating a unique and more diversified platform that remains well positioned for growth.
- The firm believes NGL will remain active and continue delivering strong results, with its distribution estimates equating to a five-year CAGR of ~10% through FY 2018.
Nov. 6, 2013, 7:58 AM
- NGL Energy Partners (NGL) agrees to acquire all equity interests of Gavilon, the diversified midstream energy business owned by funds managed by Ospraie Management, General Atlantic and Soros Fund Management in an $890M deal.
- Gavilon principally operates integrated crude oil storage, terminal and pipeline assets located in Oklahoma, Texas and Louisiana, along with a complementary crude oil and refined products supply, marketing and logistics business.
- To help fund the deal, NGL will sell ~$240M of its common units in a private placement at a price of $29.59/unit and expands its credit facility to $1.67B from $1.05B.
NGL vs. ETF Alternatives
NGL Energy Partners LP purchases propane, butane, and other natural gas liquids from refiners, processing plants, producers, and other parties, and sells the product to retailers, refiners, and other participants in the wholesale markets.
Other News & PR