NGL Energy Partners LP Announces Sale Of The New Mexico Ranches For ~$70M In Proceeds, Including Working Capital; Including Asset Sales In FY24, We Have Exceeded The $150M Asset Sale Guidance
Portfolio Pulse from Benzinga Newsdesk
NGL Energy Partners LP (NGL) has sold its North and South Ranches in New Mexico for approximately $70 million, surpassing its $150 million asset sale guidance for FY24. The sale is part of NGL's focus on portfolio optimization and commitment to environmental sustainability in its water management operations.
April 05, 2024 | 4:50 pm
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NGL Energy Partners LP announced the sale of its New Mexico ranches for about $70 million, exceeding its FY24 asset sale target of $150 million. This move is part of its strategy for portfolio optimization and environmental sustainability.
The successful sale of assets above the targeted guidance suggests a positive financial maneuver for NGL, likely leading to an optimistic investor outlook. This could result in a short-term positive impact on NGL's stock price, as it demonstrates effective asset management and commitment to sustainability, which are attractive to investors.
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