NGL Energy Partners LP (NYSE:NGL) has recently unveiled an exciting development for its Lea County Express Pipeline System. Set to be known as the LEX II Expansion, this ambitious project is set to revolutionize the pipeline’s water disposal capacity, boosting it from 140,000 barrels per day to an impressive 340,000 barrels per day by 2024.
The expansion plan involves the construction of a remarkable 27-mile, 30-inch produced water pipeline. Initially, this pipeline will have a capacity of 200,000 barrels per day, with the potential to expand to a staggering 500,000 barrels per day. This expansion is being made possible due to a minimum volume commitment contract, which includes an acreage dedication extension with a highly reputable oil and gas producer.
To enhance NGL’s existing produced water super-system, the expansion will introduce a second large-diameter pipeline, disposal wells, and state-of-the-art facilities. These additions will not only significantly improve the efficiency and effectiveness of NGL’s water disposal services but also provide a much-needed outlet for produced water disposal within the Delaware Basin.
Moreover, the LEX II Expansion is a testament to NGL’s unwavering dedication to delivering reliable and top-notch produced water disposal services. By transporting water to areas outside the core of the basin, this expansion will also serve to diversify the geographic location of NGL’s disposal operations, further solidifying their commitment to environmental sustainability and responsible resource management.
NGL Stock Shows Positive Momentum with 1.18% Increase, but Caution is Advised
On January 22, 2024, NGL stock displayed a strong performance, trading near the top of its 52-week range and above its 200-day simple moving average. This indicates positive price momentum and suggests that the stock has been on an upward trend.
The price of NGL shares increased by $0.06 since the market last closed, representing a rise of 1.18%. This price change is a positive sign for investors, as it indicates that the stock has gained value during this period.
The stock closed at $5.16, which is a notable price point for NGL. This indicates that the stock has reached a relatively high value compared to its recent trading history. Investors who purchased the stock at lower prices may be pleased with this increase in value.
However, it is worth noting that the stock has dropped $0.08 in after-hours trading. This drop in price during after-hours trading suggests that there may be some volatility or uncertainty surrounding NGL stock.
Investors should keep an eye on the stock’s performance in the coming days to see if this drop in after-hours trading is indicative of a larger trend or if it is just a temporary fluctuation. It is also important to consider other factors such as market conditions, industry trends, and company news when evaluating the performance of a stock.
Overall, NGL stock displayed positive price momentum on January 22, 2024, with an increase of 1.18% since the market last closed. However, the drop in after-hours trading suggests that caution should be exercised, and further monitoring of the stock’s performance is recommended.
NGL Reports Impressive Financial Results for Year and Second Quarter 2023
NGL, a leading energy company, has reported impressive financial results for the year and the second quarter of 2023. Based on data sourced from CNN Money, the company’s total revenue for the year stood at $8.69 billion, representing a 9.4% increase compared to the previous year. Furthermore, NGL’s total revenue for the second quarter reached $1.84 billion, indicating a substantial 13.92% increase since the previous quarter.
The company’s net income also witnessed significant growth. With a net income of $51.46 million for the year, NGL experienced a remarkable 127.9% increase compared to the previous year. Additionally, the company’s net income for the second quarter reached $28.03 million, reflecting a strong 45.22% increase since the previous quarter.
One key metric that investors often consider is earnings per share (EPS). Despite reporting negative earnings per share for both periods, NGL showed substantial improvement. The company’s EPS for the year was -$0.56, which represents a notable 74.85% increase compared to the previous year. Similarly, NGL’s EPS for the second quarter was -$0.05, indicating a significant 53.73% increase since the previous quarter.
These financial results highlight NGL’s strong performance in both the year and the second quarter of 2023. The company’s ability to increase total revenue, net income, and EPS demonstrates its resilience and adaptability in the dynamic energy market.
The 9.4% increase in total revenue for the year indicates that NGL has successfully expanded its business operations and captured additional market share. This growth can be attributed to various factors, including increased demand for energy products and services, successful cost management strategies, and effective utilization of existing assets.
Furthermore, the substantial increase in net income showcases NGL’s ability to generate higher profits. This growth can be attributed to improved operational efficiency, increased productivity, and potentially favorable market conditions. The company’s ability to enhance its net income by 127.9% for the year and 45.22% for the second quarter demonstrates its strong financial performance and effective management strategies.
Although NGL reported negative earnings per share for both periods, the significant improvements indicate that the company is moving in the right direction. The 74.85% increase in EPS for the year and the 53.73% increase for the second quarter suggest that NGL is successfully reducing losses and improving its profitability. Investors should take note of these positive trends as they indicate the company’s potential for future growth and increased shareholder value.
Overall, NGL’s stock performances on January 22, 2024, reflect a strong year and second quarter for the company. With increases in total revenue, net income, and earnings per share, NGL has demonstrated its ability to navigate the energy market successfully. Investors should closely monitor the company’s future financial results to assess its continued growth and potential for long-term success.
