NGL Energy Partners LP amended revolving credit of $425.0 million (reduced from $475.0 million) with JPMorgan Chase Bank, N.A., as administrative agent, and the financial institutions party thereto as lenders at 2.00% to 2.50% for SOFR-based loans and 1.00% to 1.50% for alternate base rate l.
“existing asset-based revolving credit facility (the “ABL Facility”). The ABL Amendment amends the ABL Facility to (i) reduce the aggregate amount of commitments thereunder from $475.0 million to $425.0 million, (ii) reduce both the sub-limit for letters of credit, and the aggregate amount that the commitments thereunder may be increased, from $200.0 million to $100.0”
Material Agreements
NGL Energy Partners LP amended Seventh Amendment to Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the financial institutions party thereto as lenders (effective 2026-03-12).
“On March 12, 2026, Partnership entered into that certain Seventh Amendment to Credit Agreement (the “ABL Amendment”), by and among Operating LLC, as borrower, Partnership, certain of Partnership’s direct and indirect wholly owned subsidiaries, as guarantors, JPMorgan Chase Bank, N.A., as administrative agent, and the financial institutions party thereto as lenders, which amends the terms of Partnership’s existing asset-based revolving credit facility (the “ABL Facility”).”
Material Agreements
NGL Energy Partners LP entered into Term Loan Credit Agreement with Barclays Bank PLC, as administrative agent and collateral agent, and the lenders party thereto valued at $950.0 million (effective 2026-03-12).
“On March 12, 2026, NGL Energy Partners LP (“Partnership”) entered into a new term loan credit agreement, dated March 12, 2026 (the “Term Loan Credit Agreement”), by and among Partnership, NGL Energy Operating LLC (“Operating LLC”), a wholly owned subsidiary of Partnership, as borrower, Barclays Bank PLC, as administrative agent and collateral agent, and the lenders party thereto, which provides for a $950.0 million term loan (the “Term Loan”).”
Randall S. Wade resigned as Director at NGL Energy Partners LP.
“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.”
Kurston P. McMurray resigned as Executive Vice President, General Counsel and Secretary at NGL Energy Partners LP.
“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.”
Debt Financings
NGL Energy Partners LP incurred senior notes of $900 million in aggregate principal amount of 8.125% senior secured notes due 2029 and $1.3 billion in aggregate princip with U.S. Bank Trust Company, National Association at 8.125% per annum for the 2029 Notes and 8.375% per annum for the 2032 Notes maturing February 15, 2029 for the 2029 Notes and February 15, 2032 for the 2032 Notes.
“On February 2, 2024, NGL Energy Operating LLC (“Operating LLC”) and NGL Energy Finance Corp. (“Finance Corp.” and, together with Operating LLC, the “Issuers”), each a wholly-owned subsidiary of NGL Energy Partners LP (the “Partnership”), closed the previously announced Rule 144A/Regulation S offering (the “Notes Offering”) of $900 million in aggregate principal amount of 8.125% senior secured notes due 2029 (the “2029 Notes”) and $1.3 billion in aggregate principal amount of 8.375% senior secured notes due 2032 (the “2032 Notes” and, together with the 2029 Notes, the “Notes”).”
Material Agreements
NGL Energy Partners LP entered into Indenture with U.S. Bank Trust Company, National Association, as trustee and notes collateral agent valued at $900 million in aggregate principal amount of 8.125% senior secured notes due 2029 and $1.3 billion (effective 2024-02-02).
“the “Indenture”), among the Issuers, the guarantors party thereto (the “Guarantors”) and U.S. Bank Trust Company, National Association, as trustee and notes collateral agent.”
Earnings Releases
NGL Energy Partners LP reported preliminary financial results for fiscal third quarter ended December 31, 2023.
“On January 17, 2024, NGL Energy Partners LP (“Partnership”) provided estimates of certain preliminary results of operations for the fiscal third quarter ended December 31, 2023.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.