NGL Energy extends $600 million ABL commitment size through maturity

By Wendy Van Sickle

Columbus, Ohio, Feb. 16 – NGL Energy Partners LP announced a $600 million permanent commitment in its asset-based revolving credit facility, according to a press release.

The partnership increased the ABL facility to $600 million under the accordion feature on April 13, 2022, but the amount had been set to revert to $500 million by March 31, 2023.

The latest amendment takes the increase through the February 2026 maturity.

“This amendment provides NGL additional financial flexibility to support the significant growth in our Water Solutions segment and a higher commodity price environment,” Brad Cooper, NGL’s chief financial officer, said in the release.

The Tulsa. Okla.-based energy company has operations in water treatment, midstream, wholesale supply and marketing, and retail propane and heating oil.

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