The 5% positive market reaction reflects investor approval of NGL Energy Partners’ Water Solutions segment delivering record EBITDA and volume growth alongside ongoing progress in capital structure simplification and strategic divestitures.
- Water Solutions segment posted a record $153 million adjusted EBITDA in 4Q, driving fiscal 2026 total to approximately $603 million, an 11% volume increase year-over-year.
- Disposal volumes averaged 2.9 million barrels per day for the full year, up 11%, with 90%+ under long-term contracts or acreage dedications.
- Liquids Logistics adjusted EBITDA was steady at approximately $17 million in 4Q, benefiting from noncore asset sales that reduced volatility and capital needs.
- Continued refinancing efforts reduced high-cost capital, including redeeming 285,000 Class D preferred units, lowering leverage and interest expense.
- The LEX II system expansion, backed by long-term volume commitments, supports further growth in Delaware Basin water infrastructure capacity.
Community Discussion