Market Globalist

NGL Energy Partners LP Inc. (NGL) stock falls during pre-market, post financial results were announced.

NGL Energy Partners LP Inc. (NASDAQ: NGL) stock gained by 12.59% at last close whereas the NGL stock price declines by 14.06% in the pre-market trading session. NGL is a Delaware limited partnership, transports, processes, recycles, and disposes of produced water created during the energy production process, as well as transporting, storing, marketing, and providing other logistical services for crude oil and liquid hydrocarbons.

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Financial Highlights

NGL Energy Partners LP announced its fourth quarter and fiscal year 2021 financial results today. Given below is the summary:

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Mike Krimbill, NGL’s CEO stated:

Despite a tough Fiscal 2021, the Partnership is well placed moving into Fiscal 2022, as crude prices, producer volumes, and commodity demand have all risen. The Partnership’s Water Solutions sector continues to generate growth, and they plan to fully use their Delaware Basin platform in the future year. They’re encouraged by rising and stable crude oil prices, as well as the return of growth rate in the DJ Basin, and they foresee greater producer demand for capacity on their Grand Mesa Pipeline.

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