Item 8.01. Other Matters.
On January 3, 2020, NGL Energy Partners LP (the "Partnership") completed the
disposition of its refined products business in the mid-continent region of the
United States ("Mid-Con"). The business was sold to an undisclosed third-party
whom purchased the inventory and open derivative positions of Mid-Con and
assumed the Partnership's obligations under certain system storage agreements.
The Partnership retained all of the outstanding accounts receivable and accounts
payable balances associated with this business that related to transactions
prior to the closing date. To facilitate the assignment of the system storage
agreements, the Partnership paid $6.3 million. Mid-Con previously comprised a
portion of the Partnership's Refined Products and Renewables segment.
Item 9.01. Financial Statements and Exhibits.
(b) Pro Forma Financial Statements
The unaudited pro forma condensed consolidated balance sheet as of September 30,
2019, the unaudited pro forma condensed consolidated statements of operations
for the six months ended September 30, 2019 and the years ended March 31, 2019,
2018 and 2017 of NGL Energy Partners LP and the related notes are filed as
Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by
reference.
The Partnership previously filed the historical and pro forma financial
information required under Regulation S-X with respect to the acquisition of
Hillstone Environmental Partners, LLC in a Form 8-K/A on November 18, 2019 and
provided additional updated historical and pro forma financial information in a
Form 8-K filed on December 26, 2019.
(d) Exhibits.
Exhibit No. Description
99.1 Unaudited pro forma condensed consolidated financial statements of
NGL Energy Partners LP.
101 Cover Page formatted as Inline XBRL.
104 Cover Page Interactive Data File (formatted as Inline XBRL and
contained in Exhibit 101).
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