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NGL ENERGY PARTNERS LP

(NGL)
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NGL Energy Partners LP Provides Update on Wastewater Recycling / Reuse Efforts in the Northern Delaware Basin

07/21/2021 | 06:30am EDT

NGL Energy Partners LP announced that the Partnership has successfully completed the first of two large scale Delaware Basin wastewater recycling projects in Lea County, NM. The initial project, which began in late May, supported one of its customers’ highly efficient simultaneous fracturing, or “simul-frac”, completion activities. Utilizing its own produced water, the Partnership treated and provided approximately 130,000 barrels per day, with peak volumes of up to 140,000 barrels per day. This project eliminated the need for over 5,000,000 barrels of fresh water. The second large scale recycling project will begin later this month. It is expected to provide 200,000 to 250,000 barrels per day, and potentially up to 350,000 barrels per day of recycled wastewater to a leading independent oil and gas producer. NGL continues to see increasing demand for delivery of raw produced and recycled wastewater for customers’ completion activities in the Delaware Basin. Combined sales of raw produced wastewater for reuse and recycle are expected to average between 180,000 and 190,000 barrels per day through the first six months of this fiscal year, representing more than 85% of estimated total water sales. This raw produced and recycled wastewater is efficiently delivered through NGL’s integrated pipeline network and treated using a proven and simplified mobile system that is positioned to take full advantage of its comprehensive integrated wastewater pipeline system providing support to producer activity throughout the Delaware Basin. NGL owns and operates the largest integrated network of large diameter wastewater pipelines, disposal wells and raw produced reuse and recycling system in the Delaware Basin. The Partnership’s Water Solutions segment operates in a number of the most prolific crude oil and natural gas producing basins, including the Delaware, Midland, Eagle Ford and DJ Basins.


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Financials (USD)
Sales 2022 6 856 M - -
Net income 2022 -108 M - -
Net Debt 2022 3 376 M - -
P/E ratio 2022 -2,23x
Yield 2022 -
Capitalization 272 M 272 M -
EV / Sales 2022 0,53x
EV / Sales 2023 0,49x
Nbr of Employees 997
Free-Float 94,5%
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Number of Analysts 5
Last Close Price 2,10 $
Average target price 2,50 $
Spread / Average Target 19,0%
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Managers and Directors
H. Michael Krimbill Chief Executive Officer & Director
Robert W. Karlovich Chief Financial Officer & Executive Vice President
Jennifer Kingham Chief Information Officer & Senior Vice President
Stephen L. Cropper Independent Director
Bryan K. Guderian Independent Director
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