• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Helper
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees for your businessNEW
    Legal
    Terms of usePrivacy policyCookie policy

    Amendment: SEC Form SC 13D/A filed by NGL ENERGY PARTNERS LP

    11/22/24 4:05:00 PM ET
    $NGL
    Natural Gas Distribution
    Utilities
    Get the next $NGL alert in real time by email
    SC 13D/A 1 tm2428799d1_sc13da.htm SC 13D/A

     

     

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

     

    SCHEDULE 13D/A

     

    Under the Securities Exchange Act of 1934*

    (Amendment No. 2)

     

    NGL Energy Partners LP

    (Name of issuer)

     

    Common Units Representing Limited Partner Interests

    (Title of class of securities)

     

    62913M107

    (CUSIP number)

     

    Krisy Lee, Chief Compliance Officer

    c/o EIG Management Company, LLC

    600 New Hampshire Ave NW, Suite 1200

    Washington, DC 20037

    (202) 600-3388

    (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

     

    November 22, 2024

    (Date of Event which Requires Filing of this Statement)

     

    If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ¨

     

    Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

     

    * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

     

    The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

     

     

     

     

     

    (1)

    Names of Reporting Person

    EIG Neptune Equity Aggregator, L.P.

    (2)

    Check the appropriate box if a member of a group (see instructions)

    (a) ¨ (b) ¨

    (3) SEC use only
    (4)

    Source of funds (see instructions)

    OO

    (5) Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ¨
    (6)

    Citizenship or place of organization

    Delaware

    Number of shares beneficially owned by each reporting person with: (7)

    Sole voting power

    0

    (8)

    Shared voting power

    0

    (9)

    Sole dispositive power

    0

    (10)

    Shared dispositive power

    0

    (11)

    Aggregate amount beneficially owned by each reporting person

    0

    (12) Check if the aggregate amount in Row (11) excludes certain shares (see instructions) ¨
    (13)

    Percent of class represented by amount in Row (11)

    0%

    (14)

    Type of reporting person (see instructions)

    PN

     

     

     

    Item 1. Security and Issuer.

     

    This Amendment No. 2 (“Amendment No. 2”) is being filed by the undersigned to amend the Schedule 13D filed by the Reporting Person on May 8, 2020, as amended by Amendment No. 1 thereto filed on September 4, 2020 (the “Original Statement,” and together with Amendment No. 2, the “Schedule 13D”) relating to the common units (the “Common Units”) representing limited partnership interests of NGL Energy Partners LP, a Delaware limited partnership (the “Issuer”), with principal executive offices at 6120 South Yale Avenue, Suite 805, Tulsa, Oklahoma 74136.

     

    Except as specifically provided herein, this Amendment No. 2 does not modify any of the information previously reported on the Original Statement. Capitalized terms used but not otherwise defined in this Amendment No. 2 shall have the meanings ascribed to them in the Original Statement.

     

    Item 4. Purpose of Transaction.

     

    Item 4 of the Schedule 13D is hereby amended to include the following at the end thereof:

     

    On November 12, 2024, affiliates of the Reporting Person party to the Board Representation Termination Agreement entered into a board representation termination agreement (the “Termination Agreement”) with the Issuer and certain other parties thereto, pursuant to which, among other things, the parties agreed to terminate the Board Representation Rights Agreement, effective November 12, 2024. The description of the Termination Agreement in this Item 4 is not intended to be complete and is qualified in its entirety by the text of the Termination Agreement, a copy of which is filed as an exhibit hereto and incorporated by reference herein.

     

    Item 5. Interest in Securities of the Issuer.

     

    Item 5(a) - (e) of the Schedule 13D is hereby amended and restated in its entirety as follows:

     

      (a)-(b) After giving effect to the sale of Class D Preferred Units and Warrants, the Reporting Person beneficially owns an aggregate of 0 Common Units, or 0.0% of the total number of Common Units outstanding. Such percentage is calculated based on 132,012,766 Common Units outstanding as of November 8, 2024, as reported in the Issuer's 10-Q filed with the Securities and Exchange Commission on November 12, 2024.
         
      (c) On November 22, 2024, the Reporting Person sold all previously reported Warrants for an aggregate consideration of $5,000,000. In addition, the Reporting Person previously sold, on November 13, 2024, all of the previously reported Class D Preferred Units (which are not convertible into, and therefore do not represent ownership of, Common Units) in a private transaction for an aggregate consideration of $532,952,125.
       
      (d) Not applicable.
         
      (e) On November 22, 2024, the Reporting Person ceased to beneficially own 5% of the outstanding Common Units.

     

    Item 6. Contracts, Arrangements, Understandings or Relationship with Respect to Securities of the Issuer.

     

    The information set forth in Item 4 of the Schedule 13D is hereby incorporated in Item 6 and added at the end thereof.

     

    Item 7. Materials to be Filed as Exhibits.

     

    Exhibit 7 Board Representation Termination Agreement, dated as of November 12, 2024, by and among NGL Energy Holdings LLC, NGL Energy Partners LP, EIG Management Company, LLC and FS/EIG Advisor, LLC.

     

     

     

    SIGNATURE

     

    After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Amendment No. 2 is true, complete and correct.

     

    Date: November 22, 2024

     

      EIG NEPTUNE EQUITY AGGREGATOR, L.P.
       
      By: EIG Neptune Equity GP, LLC, its general partner
       
      By:      EIG Asset Management, LLC, its managing member
       
      By:      /s/ Matthew Hartman
      Name: Matthew Hartman
      Title      Managing Director
       
      By:      /s/ Nicholas Williams
      Name: Nicholas Williams
      Title: Senior Vice President

     

     

    Get the next $NGL alert in real time by email

    Crush Q3 2025 with the Best AI Executive Assistant

    Stay ahead of the competition with Tailforce.ai - your AI-powered business intelligence partner.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Tailforce.ai

    Recent Analyst Ratings for
    $NGL

    DatePrice TargetRatingAnalyst
    More analyst ratings

    $NGL
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Wells Fargo reiterated coverage on NGL Energy Partners with a new price target

      Wells Fargo reiterated coverage of NGL Energy Partners with a rating of Underweight and set a new price target of $2.25 from $2.00 previously

      5/13/21 10:10:40 AM ET
      $NGL
      Natural Gas Distribution
      Utilities
    • NGL Energy Partners upgraded by UBS with a new price target

      UBS upgraded NGL Energy Partners from Sell to Neutral and set a new price target of $3.00 from $2.00 previously

      2/18/21 8:00:41 AM ET
      $NGL
      Natural Gas Distribution
      Utilities

    $NGL
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • New insider Collins Lorenzo Ryan claimed ownership of 28,733 units of Common Units (SEC Form 3)

      3 - NGL Energy Partners LP (0001504461) (Issuer)

      6/6/25 4:33:49 PM ET
      $NGL
      Natural Gas Distribution
      Utilities
    • Chief Executive Officer Krimbill H Michael bought $462,555 worth of Common Units (100,000 units at $4.63), increasing direct ownership by 1% to 2,978,615 units (SEC Form 4)

      4 - NGL Energy Partners LP (0001504461) (Issuer)

      2/18/25 8:56:11 AM ET
      $NGL
      Natural Gas Distribution
      Utilities
    • New insider Kingham Jennifer L claimed ownership of 92,687 units of Common Units (SEC Form 3)

      3 - NGL Energy Partners LP (0001504461) (Issuer)

      5/2/24 3:39:54 PM ET
      $NGL
      Natural Gas Distribution
      Utilities

    $NGL
    Leadership Updates

    Live Leadership Updates

    See more
    • NGL Energy Partners LP Announces Increase in Adjusted EBITDA Guidance, Indebtedness at December 31, 2022 and Appointment of New Chief Financial Officer

      NGL Energy Partners LP (NYSE:NGL) ("the "Partnership" or "NGL") announced an increase to its Fiscal 2023 Adjusted EBITDA guidance today. The Partnership has increased its Adjusted EBITDA guidance for the current fiscal year from greater than $600 million to greater than $630 million. Of this amount, more than $430 million is expected to be generated from the Partnership's Water Solutions segment. Additionally, the Partnership disclosed that it has reduced debt balances by approximately $227 million during its third fiscal quarter and has a total debt balance of $3.258 billion as of December 31, 2022. "We are excited to update our Fiscal 2023 Adjusted EBITDA guidance to greater than $630 mi

      1/3/23 4:58:00 PM ET
      $NGL
      Natural Gas Distribution
      Utilities
    • NGL Energy Partners LP Announces Appointment of New Chief Financial Officer

      NGL Energy Partners LP (NYSE:NGL) today announces that Linda Bridges will be promoted to Executive Vice President and Chief Financial Officer effective September 30, 2021 and will be reporting to H. Michael Krimbill, the Partnership's Chief Executive Officer. Ms. Bridges joined the Partnership in June 2016 as the Partnership's Vice President of Finance and Treasurer and was promoted to Senior Vice President of Finance and Treasurer in April 2018. Prior to joining the Partnership, Ms. Bridges spent nine years in the commercial division at Bank of Oklahoma, primarily as a lender to both upstream and midstream energy clients. Linda holds a Masters of Business Administration from the Universit

      8/24/21 6:45:00 AM ET
      $NGL
      Natural Gas Distribution
      Utilities
    • Mission Energy LLC Appoints New Chief Financial Officer Johan Themaat

      DENVER, July 1, 2021 /PRNewswire-PRWeb/ -- Mission Energy LLC, a growing provider of clean energy projects to nonprofits, announced today the appointment of Johan Themaat as Chief Financial Officer and Managing Member effective June 1, 2021. Dan Last, Mission Energy's Co-Founder and COO commented, "We are excited to have Johan join Mission Energy. Johan is a seasoned executive and his strong background in developing and operating energy assets, and leading energy transactions and financings, makes him the right choice to join our leadership team. Johan has earned a reputation as a trusted team player and 'hands on' problem solver, and we welcome his contribution to grow our business across N

      7/1/21 8:00:00 AM ET
      $NGL
      Natural Gas Distribution
      Utilities

    $NGL
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13D/A filed by NGL ENERGY PARTNERS LP

      SC 13D/A - NGL Energy Partners LP (0001504461) (Subject)

      11/22/24 4:05:00 PM ET
      $NGL
      Natural Gas Distribution
      Utilities
    • SEC Form SC 13G/A filed by NGL ENERGY PARTNERS LP (Amendment)

      SC 13G/A - NGL Energy Partners LP (0001504461) (Subject)

      6/7/24 12:07:25 PM ET
      $NGL
      Natural Gas Distribution
      Utilities
    • SEC Form SC 13G/A filed by NGL ENERGY PARTNERS LP (Amendment)

      SC 13G/A - NGL Energy Partners LP (0001504461) (Subject)

      2/12/24 4:50:56 PM ET
      $NGL
      Natural Gas Distribution
      Utilities

    $NGL
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • NGL Energy Partners LP Announces Quarterly Cash Distribution for the Class B, Class C, and Class D Preferred Units

      NGL Energy Partners LP (NYSE:NGL) announced today that the Board of Directors of its general partner declared a distribution for the quarter ending June 30, 2025 to be paid to the holders of the Partnership's 11.772% Class B Floating Rate Cumulative Redeemable Perpetual Preferred Units ("Class B Preferred Units") and the 11.682% Class C Floating Rate Cumulative Redeemable Perpetual Preferred Units ("Class C Preferred Units") in accordance with the terms outlined in NGL's partnership agreement. Each of the Class B Preferred Units will receive a quarterly distribution of $0.7358 and each of the Class C Preferred Units will receive a quarterly distribution of $0.7301 per unit on July 15, 2025,

      6/18/25 4:30:00 PM ET
      $NGL
      Natural Gas Distribution
      Utilities
    • NGL Energy Partners LP Announces Fourth Quarter and Full Year Fiscal 2025 Financial Results; Guidance for Fiscal 2026

      NGL Energy Partners LP (NYSE:NGL) ("NGL," "we," "us," "our," or the "Partnership") today reported its fourth quarter and full year fiscal 2025 results. Highlights for the fiscal year and quarter ended March 31, 2025 include: Income from continuing operations for full year Fiscal 2025 of $65.0 million, compared to a loss from continuing operations of $157.7 million for full year Fiscal 2024; income from continuing operations for the fourth quarter of Fiscal 2025 of $16.2 million, compared to a loss from continuing operations of $234.3 million for the fourth quarter of Fiscal 2024 Adjusted EBITDA from continuing operations(1) for full year Fiscal 2025 of $622.9 million, compared to $5

      5/29/25 4:32:00 PM ET
      $NGL
      Natural Gas Distribution
      Utilities
    • NGL Energy Partners Announces Earnings Call

      NGL Energy Partners LP (NYSE:NGL) announced today that it plans to issue its fiscal year ended March 31, 2025 earnings press release post-market close on Thursday, May 29, 2025. Members of NGL's management team intend to host an earnings call following this release on Thursday, May 29, 2025 at 4:00 pm CT to discuss its financial results. Analysts, investors, and other interested parties may join the webcast via the event link: https://www.webcaster4.com/Webcast/Page/2808/52485 or by dialing (888) 506-0062 and providing conference code: 625196. An archived audio replay of the call will be available for 14 days, which can be accessed by dialing (877) 481-4010 and providing replay passcode 524

      5/9/25 4:35:00 PM ET
      $NGL
      Natural Gas Distribution
      Utilities

    $NGL
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Chief Executive Officer Krimbill H Michael bought $462,555 worth of Common Units (100,000 units at $4.63), increasing direct ownership by 1% to 2,978,615 units (SEC Form 4)

      4 - NGL Energy Partners LP (0001504461) (Issuer)

      2/18/25 8:56:11 AM ET
      $NGL
      Natural Gas Distribution
      Utilities
    • Collingsworth James M bought $581,566 worth of Common Units (100,000 units at $5.82) (SEC Form 4)

      4 - NGL Energy Partners LP (0001504461) (Issuer)

      2/14/24 5:17:41 PM ET
      $NGL
      Natural Gas Distribution
      Utilities

    $NGL
    SEC Filings

    See more
    • SEC Form 10-K filed by NGL ENERGY PARTNERS LP

      10-K - NGL Energy Partners LP (0001504461) (Filer)

      5/29/25 4:25:40 PM ET
      $NGL
      Natural Gas Distribution
      Utilities
    • Amendment: SEC Form SCHEDULE 13G/A filed by NGL ENERGY PARTNERS LP

      SCHEDULE 13G/A - NGL Energy Partners LP (0001504461) (Subject)

      5/15/25 1:02:04 PM ET
      $NGL
      Natural Gas Distribution
      Utilities
    • SEC Form SCHEDULE 13G filed by NGL ENERGY PARTNERS LP

      SCHEDULE 13G - NGL Energy Partners LP (0001504461) (Filed by)

      3/31/25 4:09:30 PM ET
      $NGL
      Natural Gas Distribution
      Utilities

    $NGL
    Financials

    Live finance-specific insights

    See more
    • NGL Energy Partners LP Announces Fourth Quarter and Full Year Fiscal 2025 Financial Results; Guidance for Fiscal 2026

      NGL Energy Partners LP (NYSE:NGL) ("NGL," "we," "us," "our," or the "Partnership") today reported its fourth quarter and full year fiscal 2025 results. Highlights for the fiscal year and quarter ended March 31, 2025 include: Income from continuing operations for full year Fiscal 2025 of $65.0 million, compared to a loss from continuing operations of $157.7 million for full year Fiscal 2024; income from continuing operations for the fourth quarter of Fiscal 2025 of $16.2 million, compared to a loss from continuing operations of $234.3 million for the fourth quarter of Fiscal 2024 Adjusted EBITDA from continuing operations(1) for full year Fiscal 2025 of $622.9 million, compared to $5

      5/29/25 4:32:00 PM ET
      $NGL
      Natural Gas Distribution
      Utilities
    • NGL Energy Partners LP Announces Third Quarter Fiscal 2025 Financial Results

      NGL Energy Partners LP (NYSE:NGL) ("NGL," "we," "us," "our," or the "Partnership") today reported its third quarter Fiscal 2025 financial results. Highlights include: Net income for the third quarter of Fiscal 2025 of $14.6 million, compared to net income of $45.8 million for the third quarter of Fiscal 2024 Adjusted EBITDA(1) for the third quarter of Fiscal 2025 of $147.7 million, compared to $151.7 million for the third quarter of Fiscal 2024 Produced water volumes processed of approximately 2.62 million barrels per day during the third quarter of Fiscal 2025, growing 10.4% from the third quarter of Fiscal 2024 We commenced operations on our expanded Lea County Express Pipelin

      2/10/25 4:38:00 PM ET
      $NGL
      Natural Gas Distribution
      Utilities
    • NGL Energy Partners LP Announces Second Quarter Fiscal 2025 Financial Results

      NGL Energy Partners LP (NYSE:NGL) ("NGL," "we," "us," "our," or the "Partnership") today reported its second quarter Fiscal 2025 financial results. Highlights include: Net income for the second quarter of Fiscal 2025 of $3.4 million, compared to net income of $28.3 million for the second quarter of Fiscal 2024 Adjusted EBITDA(1) for the second quarter of Fiscal 2025 of $147.3 million, compared to $176.2 million for the second quarter of Fiscal 2024 On August 5, 2024, we amended the Term Loan B agreement to reduce the SOFR margin from 4.50% to 3.75%. Highlights for the period subsequent to September 30, 2024: On November 1, 2024, we commenced operations on our expanded Lea Cou

      11/12/24 4:35:00 PM ET
      $NGL
      Natural Gas Distribution
      Utilities