NGL Energy Partners LP (NYSE:NGL) today announced that it has closed the previously announced transaction to sell the remainder of its Retail Propane business to Superior Plus Corp. (TSX:SPB) for $900 million in cash proceeds, adjusted for working capital.

In May 2018, NGL announced its strategic decision to completely exit the Retail Propane business and re-deploy capital at a comparatively higher rate of return in its Water Solutions and Crude Logistics businesses. In total, the Partnership generated over $1.1 billion of gross cash proceeds on the sale of its retail propane assets. NGL plans to immediately repay indebtedness under its Credit Facility using the proceeds from the sale, which can subsequently be re-borrowed for other debt repayment and to fund growth capital expenditures.

About NGL Energy Partners LP

NGL Energy Partners LP is a Delaware limited partnership. NGL owns and operates a vertically integrated energy business with four primary businesses: water solutions, crude oil logistics, NGL logistics and refined products/renewables. For further information, visit the Partnership’s website at www.nglenergypartners.com.

NGL Energy Partners LP

Trey Karlovich, 918-481-1119

Executive Vice President and Chief Financial Officer

[email protected]

or

Linda Bridges, 918-481-1119

Senior Vice President – Finance and Treasurer

[email protected]


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