Business Context and Reporting Period
This Form 8-K is filed by NGL Energy Partners LP on January 21, 2021. The report serves to provide additional updated historical and pro forma financial information regarding the acquisition of Hillstone Environmental Partners, LLC, which was completed on October 31, 2019. The filing references unaudited pro forma condensed consolidated statements of operations for the year ended March 31, 2020.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. These metrics are contained within the unaudited pro forma financial statements filed as Exhibit 99.1, which are incorporated by reference but not detailed in the body of this report.
Material Changes
The primary material event is the update to historical and pro forma financial data related to the Hillstone Environmental Partners, LLC acquisition. This filing supersedes or supplements previous disclosures made in Form 8-K/A filings on November 18, 2019, December 26, 2019, and March 5, 2020.
Guidance, Outlook, and Risks
The filing does not contain management commentary, forward-looking guidance, or specific risk factors. It is strictly a procedural filing to update financial exhibits related to a prior acquisition.
Investor Verification Checklist
- Review Exhibit 99.1 for the specific unaudited pro forma condensed consolidated statement of operations for the year ended March 31, 2020.
- Compare the updated pro forma figures in this filing against the previously filed data from November 2019, December 2019, and March 2020 to identify adjustments.
- Verify the impact of the Hillstone Environmental Partners, LLC acquisition on the Partnership's consolidated financial position.