TULSA, Okla.--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE:NGL) today announced that the Board of Directors of its general partner has confirmed and approved that, upon payment of the distribution for the fiscal quarter ended June 30, 2014, the conditions for conversion of NGL’s subordinated units will be satisfied. As previously announced, the quarterly distribution is payable on August 14, 2014. Accordingly, NGL’s 5,919,346 subordinated units will convert on a one-for-one basis into common units effective August 15, 2014, the day following the distribution.
Cautionary Statement Concerning Forward–Looking Statements
This press release includes “forward-looking statements.” All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Actual results could vary significantly from those expressed or implied in such statements and are subject to a number of risks and uncertainties. While NGL believes its expectations as reflected in the forward-looking statements are reasonable, NGL can give no assurance that such expectations will prove to be correct. The forward-looking statements involve risks and uncertainties that affect operations, financial performance, and other factors as discussed in filings with the Securities and Exchange Commission (“SEC”). Other factors that could impact any forward-looking statements are those risks described in NGL’s annual report on Form 10-K, quarterly reports on Form 10-Q, and other filings with the SEC. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, specifically those under the heading “Risk Factors.” NGL undertakes no obligation to publicly update or revise any forward-looking statements except as required by law.
About NGL Energy Partners LP
NGL Energy Partners LP is a Delaware limited partnership. NGL owns and operates a vertically integrated energy business with five primary businesses: water solutions, crude oil logistics, NGL logistics, refined products / renewables and retail propane. NGL completed its initial public offering in May 2011. For further information, visit NGL’s website at www.nglenergypartners.com.
