NGL begins public offering of common units

NGL Energy Partners LP (NYSE: NGL) has begun an underwritten public offering of 6,250,000 common units representing limited partner interests. NGL will also grant the underwriter a 30-day option to purchase up to 937,500 additional common units.

NGL intends to use the net proceeds from this offering, including any net proceeds from the underwriter’s exercise of its option to purchase additional common units, to repay borrowings under its revolving credit facility and for general partnership purposes, including capital expenditures and potential acquisitions.

Barclays is acting as the sole underwriter for the offering.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...