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Why NGL Energy Partners Plunged 15% Today Despite Higher Oil Prices

Neha Chamaria, The Motley Fool
·3-min read
Why NGL Energy Partners Plunged 15% Today Despite Higher Oil Prices

NGL Energy delivered stupendous growth on its top line as crude oil prices rallied, but the market wasn't impressed. NGL Energy's water solutions segment – also its largest -- was the star performer, as the company processed nearly 1.7 million barrels of water per day, up 22% year over year thanks to higher production. NGL Energy is a diversified midstream energy partnership that transports, recycles, and disposes "produced water," which is the water produced as a byproduct of oil and gas extraction.

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