Why Units of NGL Energy Partners Are Tumbling Today

Matthew DiLallo, The Motley Fool
·2 min read
Why Units of NGL Energy Partners Are Tumbling Today

Units of NGL Energy Partners (NYSE: NGL) were trading more than 10% lower as of 3 p.m. EST Wednesday after the MLP provided a financial update to investors. NGL Energy Partners has settled its dispute with oil producer Extraction Oil & Gas. During that company's Chapter 11 bankruptcy proceedings, it rejected two transportation service contracts with Grand Mesa Pipeline, a subsidiary of NGL Energy Partners.