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Gold/Mining/Energy NGL to da moon (well, maybe to $10?)!!

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From: Elroy	9/30/2024 1:36:09 PM
	of 103

Today is the last day to buy the B or C NGL preferred stock and receive the 80 cents dividend. Both trade ex-div tomorrow. I bet they drop less than 80 cents. I think as the markets come to believe these preferreds will remain current, they likely trade above $25 par price. Both are about $24 today, and pay 80 cents after the close. There's not a lot of stuff out there yielding 12.5%. I think NGL's balance sheet improving over the next 1 or 2 reports should push the preferreds up to at least $25. finance.yahoo.com

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From: Elroy	10/1/2024 2:47:25 PM
	of 103

NGL B and C have dropped to about $23 now that they've earned the 80 cents dividend. Both yield 13.5%-14% at the current $23 price. NGL's cash flows should improve quite a lot beginning with the December 2024 quarter, and I think the preferreds will stay out of arrears. Now's a good chance to pick up a decent income yield in these two preferred stocks - Schwab tickers are NGL/PRB or NGL/PRC.

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From: Elroy	10/13/2024 9:50:06 AM
	of 103

Some interesting items on NGL from the previous conference call (early August). Water Solutions ... volumes we were paid to dispose that includes deficiency volumes were 2.59 million barrels per day in the first quarter.... The Water Solutions segment ... averaging approximately 2.7 million barrels per day in the month of July. When you include deficiency volumes in July, we will be paid on approximately 3 million barrels per day. The LEX II water pipeline project with initial capacity of 200,000 barrels per day that is expandable to 500,000 barrels per day is on schedule with an in-service date in October. Liquids Logistics adjusted EBITDA was $11.5 million in the first quarter... The first quarter is typically the low point of the EBITDA stream for the Liquids segment. We are reaffirming our full-year guide of $665 million of EBITDA for the partnership and $550 million to $560 million for Water Solutions. Comment - there are three more quarters to be reported in the "full year". Guidance implies quarterly EBITDA of $174m. Lex 2 launch should add about $10m EBITDA per Q in Dec and March, but still, the EBITDA growth trajectory (if it is met) should easily push the units above $6.00...... Remember that reduced leverage is a function of both lower debt balances and increased EBITDA. I think he makes this comment because they expect meaningfully increased EBITDA. So leverage will decline by EBITDA growth more than absolute debt reduction.

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From: Elroy	10/25/2024 8:09:56 AM
	of 103

These guys have some business that is similar to NGL's water business. Select Water Solutions Increases Quarterly Cash Dividend 17% finance.yahoo.com

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From: Elroy	11/4/2024 4:36:46 PM
	of 103

These guys are competitors with NGL's water division. Aris Water Solutions, Inc. Reports Third Quarter 2024 Results and Further Increases 2024 Adjusted EBITDA Outlook finance.yahoo.com THIRD QUARTER 2024 HIGHLIGHTS Increased produced water volumes 2% sequentially and 6% versus the third quarter of 2023 Increased recycled water volumes 25% sequentially and 16% versus the third quarter of 2023 Achieved net income of $16.4 million, a 34% increase versus the third quarter of 2023 Generated Adjusted EBITDA1 of $54.3 million, up 9% sequentially and up 21% versus the third quarter of 2023 Achieved Gross Margin per barrel of $0.32 and Adjusted Operating Margin per barrel2 of $0.45, a 13% increase in Adjusted Operating Margin per barrel2 versus the third quarter of 2023 Maintained a strong balance sheet with quarter-end leverage3 of 2.0X and $292 million of available liquidity under our revolving credit facility Increasing our 2024 Adjusted EBITDA1 outlook to $208 to $212 million Full year 2024 Capital Expenditure4 guidance of $98 to $105 million, consistent with prior guidance

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