Highest-materiality recent filing
NGL closes $950M term loan ($250M incremental), ABL cut to $425M, to redeem ~195K Class D units
Closed $950M senior secured term loan due 2033; incremental $250M above prior $687.8M term loan.
NGL Energy unitholders approve 2025 Long-Term Incentive Plan, ratify auditor
Unitholders approved 2025 Plan: 50.4M for, 7.4M against, 1.3M abstain, 25.5M broker non-votes.
Board member Randall S. Wade resigns from NGL Energy Partners LP effective October 30, 2024
Randall S. Wade resigned as director of the general partner effective 5:00pm NY time on October 30, 2024.
NGL Energy EVP, General Counsel Kurston McMurray resigns effective Oct 2, 2024
Kurston P. McMurray resigns as EVP, General Counsel and Secretary, effective October 2, 2024, to pursue other interests.
NGL closes $2.9B debt refinancing with $2.2B notes and $700M term loan
Issued $900M 8.125% senior secured notes due 2029 and $1.3B 8.375% notes due 2032.
NGL Energy upsizes notes offering to $2.2B, prices 8.125% 2029 and 8.375% 2032 senior secured notes
Offering upsized from $2.1B to $2.2B; $900M of 8.125% notes due 2029 and $1.3B of 8.375% notes due 2032.
NGL Energy announces $2.1B senior secured notes offering to refinance near-term debt
Offering $2.1B aggregate principal of senior secured notes due 2029 and 2032.
NGL announces $700M senior secured term loan and prelim Q3 EBITDA $150-160M
Plans seven-year $700M senior secured term loan facility to refinance existing debt and for general corporate purposes.
Director Stephen L. Cropper resigns from NGL Energy Partners board effective June 2, 2023
Stephen L. Cropper notified the board on May 24, 2023, of his resignation effective June 2.
NGL Energy completes marine sale for $112M; repays $39M loan; redeems 7.5% notes; debt $2.9B
Sale of marine assets closed Mar 30, 2023 for $111.65M cash, less ~$7.5M expenses.
NGL Energy Partners signs agreements to sell marine assets for $111.65M cash
Sale price $111.65M cash for marine fleet of 13 towboats and 25 tank barges.
NGL Energy Partners to redeem all $203.4M of 7.5% Senior Notes due 2023 on March 31
Redemption of $203,400,000 aggregate principal amount of 7.5% Senior Notes due 2023.
NGL Energy permanently expands ABL facility to $600M, extends $100M maturity to Feb 2026
Third Amendment makes $600M ABL commitment permanent; $100M previously temporary now extends through Feb 2026.
NGL Energy raises FY2023 EBITDA guidance to >$630M, cuts debt $227M in Q3
Adjusted EBITDA guidance raised from >$600M to >$630M for fiscal 2023.
NGL Energy Partners appoints Brad Cooper as CFO with $500K annual salary
Brad Cooper appointed EVP and CFO effective January 13, 2023, succeeding Linda Bridges who resigned.
FY2023 Adjusted EBITDA guidance raised from >$600M to >$630M; Water Solutions expected to contribute >$430M.
NGL Energy EVP Strategic Initiatives John Ciolek resigns effective Oct 21, 2022
John Ciolek, Executive Vice President Strategic Initiatives, notified resignation on July 22, 2022.
NGL Energy appoints Linda Bridges as CFO with $500k base salary, retroactive to Oct 1
Linda Bridges appointed EVP and CFO effective Sept 30, 2021, succeeding Robert Karlovich.
NGL Energy appoints Linda Bridges as CFO effective Sept 30, 2021; Karlovich resigns
Linda Bridges named EVP and CFO, effective September 30, 2021, succeeding Robert Karlovich.
On October 29, 2024, Randall S. Wade, a member of the board of directors of the general partner of NGL Energy Partners LP (the “Partnership”), notified the Partnership that he will be resigning from his board position effective October 30, 2024.
On August 28, 2024, Kurston P. McMurray, Executive Vice President and General Counsel and Secretary, notified NGL Energy Partners LP (the “Partnership”) that he will be resigning from his position with the Partnership effective October 2, 2024 to pursue other interests.
On May 24, 2023, Stephen L. Cropper, a member of the board of directors of the general partner of NGL Energy Partners LP (the "Partnership"), notified the Partnership that he will be resigning from his board position effective June 2, 2023.
On January 3, 2023, NGL Energy Partners LP (the “Partnership” or "NGL") announced the appointment of Brad Cooper to serve as the Executive Vice President and Chief Financial Officer of NGL Energy Holdings LLC (the “General Partner”), the general partner of the Partnership, effective January 13, 2023 (the “Effective Date”).
Mr. Cooper will succeed Linda Bridges, who notified the Partnership on December 30, 2022, that she has resigned from her position of Executive Vice President and Chief Financial Officer effective January 13, 2023 to pursue other interests.
On January 3, 2023, NGL Energy Partners LP (the “Partnership” or "NGL") announced the appointment of Brad Cooper to serve as the Executive Vice President and Chief Financial Officer of NGL Energy Holdings LLC (the “General Partner”), the general partner of the Partnership, effective January 13, 2023.
Linda Bridges, who notified the Partnership on December 30, 2022, that she has resigned from her position of Executive Vice President and Chief Financial Officer effective January 13, 2023 to pursue other interests.
On July 22, 2022, John Ciolek, Executive Vice President, Strategic Initiatives, notified NGL Energy Partners LP (the "Partnership") that he will be resigning from his position with the Partnership effective October 21, 2022 to pursue other interests closer to his family in New York.
On August 24, 2021, the Partnership announced the appointment of Linda Bridges to serve as the Executive Vice President and Chief Financial Officer of NGL Energy Holdings LLC (the “General Partner”), the general partner of the Partnership, effective September 30, 2021 (the “Effective Date”).
Ms. Bridges will succeed Robert W. Karlovich III, who has resigned from his position of Executive Vice President and Chief Financial Officer of the General Partner on the Effective Date to pursue other interests.
On August 24, 2021, NGL Energy Partners LP (the “Partnership”) announced the appointment of Linda Bridges to serve as the Executive Vice President and Chief Financial Officer of NGL Energy Holdings LLC (the “General Partner”), the general partner of the Partnership, effective September 30, 2021 (the “Effective Date”).
Ms. Bridges will succeed Robert W. Karlovich III, who has resigned from his position of Executive Vice President and Chief Financial Officer on the Effective Date to pursue other interests.
Max materiality 0.85 · Median 0.65 · Most common event debt