Current NGL Stock Info

By Tyler Losier, Energy Reporter, Oil & Gas 360

NGL Energy Partners sells TransMontaigne Product Services for $300 million
NGL Energy Partners LP (stock ticker: NGL), a vertically integrated midstream company, has signed a definitive agreement to sell TransMontaigne Product Services and its associated assets to an undisclosed buyer for approximately $300 million.

Proceeds from the transaction will be used to reduce outstanding indebtedness under NGL’s revolving credit facility. Additionally, the partnership expects to significantly reduce letter of credit commitments following the sale of TransMontaigne, an entity that makes up a portion of NGL’s refined products reporting segment.

TransMontaigne's asset base (source: Tran...

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