Business Context and Reporting Period
This Form 8-K was filed by NGL Energy Partners LP on March 5, 2020. 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 nine months ended December 31, 2019, and the year ended March 31, 2019.
Key Financial Metrics
The filing text does not provide specific numerical 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 acquisition of Hillstone Environmental Partners, LLC. This filing updates the historical and pro forma financial information previously submitted in Forms 8-K/A (November 18, 2019) and 8-K (December 26, 2019) to reflect the impact of this transaction.
Guidance, Outlook, and Risks
The filing does not contain management commentary, forward-looking guidance, specific risk factors, or details on contingencies. The document is strictly procedural, focusing on the submission of updated financial exhibits related to the Hillstone acquisition.
Investor Verification Checklist
- Review Exhibit 99.1 for the specific unaudited pro forma condensed consolidated financial statements.
- Verify the impact of the Hillstone Environmental Partners, LLC acquisition on the Partnership's financial position.
- Compare the updated pro forma data in this filing against the previous filings from November and December 2019.
- Confirm the trading status of Common units (NGL) and preferred units (NGL-PB, NGL-PC) on the New York Stock Exchange.