NGL Energy Partners LP (NYSE:NGL) Q1 2021 Earnings Conference Call - Final Transcript

Aug 10, 2020 • 05:00 pm ET

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NGL Energy Partners LP (NYSE:NGL) Q1 2021 Earnings Conference Call - Final Transcript

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Presentation
Executive
H. Michael Krimbill

expand our market share and further solidify our core operating areas in the Water Solution business.

In the Delaware Basin, we have all of our large diameter pipe online and flowing water. The 24-inch LEX Pipeline East to Andrews County, Texas, is in service. The 24-inch WEX pipeline from Eddy County to Mentone, Texas, is operational, as is the 24-inch Orla express from Lee County to Mentone. Our new 30-inch pipeline in Southern Eddy County, South of Texas, is in service and flowing water as well. This is a major milestone for NGL as these capital expenditures are now behind us. Water volumes are currently increasing with additional substantial contracted volumes coming on the remainder of the year.

As Trey mentioned, we have reduced operating expenses in our Water segment by approximately $2 million per month beginning in June, which we will continue to fully realize in our future quarters. In closing, we took this quarter to focus on items that we can control as we continue to position NGL for long-term success, focusing on the future, while managing the short-term obstacles and opportunities.

With that, shall we open it up for questions?