![NGL Energy Partners Announces Cash Distribution](/sites/default/files/styles/hart_news_article_image_640/public/image/2024/02/ngl-energy-partners.jpg?itok=tkxnV0wL)
Payments to holders of NGL Energy Partners’ Class B preferred units will be made Feb. 27. (Source: Shutterstock)
The NGL Energy Partners LP declared a distribution of 50% of the arrearages earned and outstanding through Dec. 31, 2023. The distribution will be paid to holders of NGL’s 12.806% Class B preferred units and the 9.625% Class C preferred units, said the company in a press release.
In the Feb. 6 announcement, the company said each holder of the Class B fixed-to-floating rate cumulative redeemable perpetual preferred units will receive approximately $4.44 per unit and each holder of Class C fixed-to-floating rate cumulative redeemable perpetual preferred units will be paid $4.07 per unit. Payments will be made Feb. 27 to holders of record at the close of trading on Feb. 16.
NGL Energy’s board of directors also declared a cash distribution totaling approximately $115 million, representing 50% of the arrearages earned on the Class D preferred units through Dec. 31. Payments will also be made on Feb. 27.
Recommended Reading
Falcon, Tamboran Spud Second Well in Australia’s Beetaloo
2024-11-25 - Falcon Oil & Gas Ltd., with joint venture partner Tamboran, have spud a second well in the Shenandoah South Pilot Project in the Beetaloo.
Shale Outlook: E&Ps Making More U-Turn Laterals, Problem-Free
2025-01-09 - Of the more than 70 horseshoe wells drilled to date, half came in the first nine months of 2024 as operators found 2-mile, single-section laterals more economic than a pair of 1-mile straight holes.
Analysis: Middle Three Forks Bench Holds Vast Untapped Oil Potential
2025-01-07 - Williston Basin operators have mostly landed laterals in the shallower upper Three Forks bench. But the deeper middle Three Forks contains hundreds of millions of barrels of oil yet to be recovered, North Dakota state researchers report.
E&P Highlights: Dec. 16, 2024
2024-12-16 - Here’s a roundup of the latest E&P headlines, including a pair of contracts awarded offshore Brazil, development progress in the Tishomingo Field in Oklahoma and a partnership that will deploy advanced electric simul-frac fleets across the Permian Basin.
E&P Highlights: Jan. 21, 2025
2025-01-21 - Here’s a roundup of the latest E&P headlines, with Flowserve getting a contract from ADNOC and a couple of offshore oil and gas discoveries.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.