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Why Units of NGL Energy Partners Slumped More Than 15% in March

Why Units of NGL Energy Partners Slumped More Than 15% in March

Units of NGL Energy Partners skyrocketed in February after the company reported strong fiscal third-quarter results. NGL Energy also stated it was pursuing other ways to generate cash, including noncore asset sales, to pay down additional debt. NGL Energy Partners used the asset sale proceeds to repay the associated $39 million marine equipment note and some of the ABL balance.