NGL-PBNYSENatural Gas TransmissionUS GAAP · USD

NGL Energy Partners LP

NGL Energy Partners LP is a Delaware master limited partnership that operates midstream energy assets in the United States and Canada. Its core businesses are water solutions for oil and gas production and crude oil logistics, including transportation, storage, terminaling, and related services for liquid hydrocarbons.

Liikevaihto3 156milj. USD
−9,0 %v/v
Liikevoitto (EBIT)94,7milj. USD
−71,2 %v/v
EBIT-marginaali3,0%
−6,5 %-yks.v/v
Nettotulos−142milj. USD
−461,4 %v/v

Tilikausi 2026 · muutos edellisvuodesta

Kehitys 2021–2026

−2 00002 0004 0006 0008 00010 000milj. USD2021: 5 227 milj. USD2021: EBIT −391 milj. USD20212022: 7 948 milj. USD2022: EBIT 83 milj. USD20222023: 8 695 milj. USD2023: EBIT 289 milj. USD20232024: 6 957 milj. USD2024: EBIT 178 milj. USD20242025: 3 469 milj. USD2025: EBIT 329 milj. USD20252026: 3 156 milj. USD2026: EBIT 95 milj. USD20263 15695
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Water Solutions55 %

Produced and flowback water transport, treatment, recycling, disposal and related services.

Crude Oil Logistics35 %

Crude oil purchasing, transportation, storage and terminaling through owned assets.

Liquids Logistics10 %

Natural gas liquids wholesale, storage and terminaling activities where applicable.

Tuotteet

Raportoitu · osuus liikevaihdosta
75,9%24,1%FY2026100 %
  • Products75,9 %
  • Services24,1 %

Lähde: 10-K FY2026, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

NGL sells primarily to oil and gas producers, marketers, refiners, and wholesale energy customers that need water handling or crude oil logistics services. Its water business is tied to producer activity in active basins, while its logistics businesses serve customers that need reliable transport, storage, and market access for crude oil and natural gas liquids.

Oil and gas producers

Buy produced-water transport, treatment, recycling and disposal tied to drilling and completion activity.

Crude oil refiners and marketers

Use crude oil transport, storage and terminaling to move barrels to refineries or trading hubs.

Natural gas liquids wholesale customers

Buy storage, terminaling and wholesale liquids logistics services for propane, butane and related products.

Industrial and other logistics customers

Use ancillary logistics and water services where NGL's asset network provides local access.

Strategia

NGL's strategy is to use contracted midstream assets to generate recurring service revenue from water handling and crude oil logistics. It also emphasizes asset optimization, long-term customer relationships, and basin proximity to capture volumes where production activity is concentrated.

Grow Water Solutions volumes in active shale basinsKeskipitkä aikaväli

Water handling demand follows drilling and completion activity in core producing areas.

Maximize utilization of contracted logistics assetsKeskipitkä aikaväli

Pipeline, storage and terminal assets are more valuable when throughput and occupancy stay high.

Maintain long-term customer contracts and acreage dedicationsLyhyt aikaväli

Contracted volumes help support more predictable cash flows and defend market position.

Maantiede

NGL's operations are concentrated in major U.S. producing basins, especially the Delaware Basin in New Mexico and Texas, the DJ Basin in Colorado, and the Eagle Ford Basin in Texas. It also operates crude oil and liquids logistics assets across the United States and has customer and supply exposure in Canada through its broader midstream footprint.

Riskit

NGL is exposed to producer activity, commodity prices, and competition across water disposal and midstream logistics. Its business also carries meaningful leverage, operational, regulatory, and cybersecurity risk because service interruptions or weaker drilling activity can quickly affect volumes and cash generation.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Dependence on crude oil and natural gas production activity1Commodity price and volume sensitivity2Operational interruptions and infrastructure failures3Leverage and financing constraints4Customer concentration5Environmental, safety and regulatory compliance6
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Dependence on crude oil and natural gas production activityVaikutus: KorkeaTodennäköisyys: Korkea

    Water disposal and logistics volumes fall when producers drill and complete fewer wells.

    Kohdistuu: Water Solutions and Crude Oil Logistics

  2. Commodity price and volume sensitivityVaikutus: KorkeaTodennäköisyys: Korkea

    Lower oil prices can reduce producer activity and lower skim oil and disposal volumes.

    Kohdistuu: Produced water and crude oil-related revenues

  3. Operational interruptions and infrastructure failuresVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Service outages at pipelines, terminals or disposal facilities can stop throughput and revenue.

    Kohdistuu: Owned and contracted midstream assets

  4. Leverage and financing constraintsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Substantial indebtedness can limit flexibility and increase sensitivity to interest rates.

    Kohdistuu: Partnership-level capital structure

  5. Customer concentrationVaikutus: KorkeaTodennäköisyys: Matala

    A small number of customers can represent a large share of segment revenue.

    Kohdistuu: Crude Oil Logistics and Liquids Logistics

  6. Environmental, safety and regulatory complianceVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Water disposal, pipelines and storage assets face permitting, environmental and safety oversight.

    KohdistuuProduced water wellsPipelinesTerminals

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition for long-term water contracts

Fees depend on estimated volumes and contract terms, which can shift reported revenue timing.

Vaikutus: Water Solutions revenue and contract assets/liabilities

Variable consideration and volume estimates

Management must estimate future production and delivered volumes under fixed-fee arrangements.

Vaikutus: Reported revenue and margin volatility

Goodwill impairment

Midstream asset values can change with throughput expectations and market conditions.

Vaikutus: Potential non-cash impairment charges

Asset retirement obligations

Pipelines, wells and related facilities require future abandonment or remediation spending.

Vaikutus: Balance sheet liabilities and accretion expense

Discontinued operations accounting

Asset sales and business exits can reclassify prior results and affect trend analysis.

Vaikutus: Comparability of revenue, EBITDA and cash flow

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.9.2026