- We reached an agreement to acquire the diversified midstream energy business of Gavilon. We expect this acquisition to close during December 2013.
- We amended our revolving credit facility in November 2013. This amendment expands the capacity to $1.671 billion, extends the maturity date to late 2018, and reduces the interest rate on our revolving credit facility.
- We reached an agreement to sell $240 million of common units in a private placement. We expect this sale to close concurrent with the closing of the Gavilon acquisition.
- We sold $450 million of senior unsecured notes in a private placement during October 2013.
- We completed eight acquisitions during the quarter ended September 30, 2013, primarily to expand our water services and crude oil logistics businesses. Capital expenditures for these assets approximated $473.6 million, of which $80.6 million represented equity issued to sellers of the acquired businesses.
- We continued our internal growth initiatives, spending approximately $52.4 million of organic growth capital during the six months ended September 30, 2013, primarily to expand our water services and natural gas liquids terminal capabilities.
- We completed public offerings of common units in July 2013 and September 2013, selling 14,450,000 common units for net proceeds of approximately $415.1 million.
- At September 30, 2013, our leverage ratio approximated 2.25x, providing a strong balance sheet, which enables us to respond quickly to opportunities.
- We increased our distribution per limited partner unit to $0.51125 per unit ($2.045 on an annualized basis), which represents a 3.5% increase over the previous quarter and a 13.6% increase over the same quarter of the prior fiscal year.”
NGL Energy Partners LP Announces Second Quarter Results And Filing Of Form 10-Q
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.