NGL Energy Partners LP, which transports oil and also treats, recycles and disposes of water generated as part of the energy production process – said it
Provided by Business Wire
NGL Energy Partners LP Announces Third Quarter Fiscal 2021 Financial Results
NGL Energy Partners LP (NYSE:NGL) (“NGL,” “our,” “we,” or the “Partnership”) today reported its third quarter fiscal 2021 results. Highlights for the quarter include:
Loss from continuing operations for the third quarter of Fiscal 2021 of $380.4 million, primarily a result of a $383.6 million write down of goodwill and certain intangibles related to the impact of the bankruptcy rejection of transportation contracts with Extraction Oil & Gas, Inc. (“Extraction”), compared to income from continuing operations of $49.1 million for the third quarter of Fiscal 2020
Announcement of a global settlement agreement with Extraction which, among other consideration, provides for: (i) a new long-term supply agreement, which includes a significant acreage dedication in the DJ Basin, and retains Extraction’s crude oil volumes for shipping on the Grand
NGL Energy Partners LP / Grand Mesa Pipeline Announce Settlement with Extraction Oil and Gas, Inc marketwatch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketwatch.com Daily Mail and Mail on Sunday newspapers.
NGL Energy Partners LP / Grand Mesa Pipeline Announce Settlement with Extraction Oil and Gas, Inc. TULSA, Okla. (Business Wire) NGL Energy Partners LP (NYSE: NGL) and Grand Mesa Pipeline, LLC, a wholly-owned subsidiary of NGL (“Grand Mesa”), announced today that Grand Mesa has entered into a settlement agreement with Extraction Oil and Gas, Inc. (NYSE: XOG) as it relates to XOG’s bankruptcy proceedings. Under the settlement, NGL and Extraction entered into a new term supply agreement, retaining Extraction’s crude volumes for shipping on the Grand Mesa Pipeline; and Grand Mesa will receive an allowed unsecured claim which it expects to liquidate for cash proceeds. In consideration for this new supply agreement, Grand Mesa, has agreed to support confirmation of XOG’s bankruptcy plan, including through the withdrawal of its previously filed objection and pending appeals.