NGL Energy Partners LP 2024年度报告

Form10-K Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T (§232.405of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ TABLE OF CONTENTSPARTIItem 1.Business3Item 1A.Risk Factors21Item 1B.Unresolved Staff Comments48Item 1C.Cybersecurity48Item 2.Properties50Item 3.Legal Proceedings50Item 4.Mine Safety Disclosures50PARTIIItem 5.Market for Registrant’s Common Equity, Related Unitholder Matters and Issuer Purchases of Equity Securities51Item 6.[Reserved]52Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations52Item 7A.Quantitative and Qualitative Disclosures About Market Risk83Item 8.Financial Statements and Supplementary Data85Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure85Item 9A.Controls and Procedures85Item 9B.Other Information87Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections87PARTIIIItem 10.Directors, Executive Officers and Corporate Governance87Item 11.Executive Compensation91Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Unitholder Matters97Item 13.Certain Relationships and Related Transactions, and Director Independence99Item 14.Principal Accountant Fees and Services102PARTIVItem 15.Exhibit and Financial Statement Schedules103Item 16.Form 10-K Summary106 Forward-Looking Statements This Annual Report on Form10-K (“Annual Report”) contains various forward-looking statements and information that are based on NGL Energy PartnersLP’s (“we,” “us,” “our,” or the “Partnership”) beliefs and those of our general partner (“GP”), as well as assumptions made by and information currently available tous. These forward-looking statements are identified as any statement that does not relate strictly to historical or current facts. Certain words in this Annual Reportsuch as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “plan,” “project,” “will,” and similar expressions and statementsregarding our plans and objectives for future operations, identify forward-looking statements. Although we and our GP believe such forward-looking statements arereasonable, neither we nor our GP can assure they will prove to be correct. Forward-looking statements are subject to a variety of risks, uncertainties andassumptions. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, our actual results may vary materially from thoseexpected. Among the key risk factors that may affect our consolidated financial position and results of operations are: •the prices of crude oil, natural gas liquids, gasoline, diesel, and energy prices generally;•the general level of demand, and the availability of supply, for crude oil, natural gas liquids, gasoline, and diesel;•the level of crude oil and natural gas drilling and production in areas where we have operations and facilities;•the ability to obtain adequate supplies of products if an interruption in supply or transportation occurs and the availability of capacity to transportproducts to market areas;•the effect of weather conditions on supply and demand for crude oil, natural gas liquids, gasoline, and diesel;•the effect of natural disasters, earthquakes, hurricanes, tornados, lightning strikes, or other significant weather events;•the availability of local, intrastate, and interstate transportation infrastructure with respect to our transportation services;•the availability, price, and marketing of competing fuels;•the effect of energy conservation efforts on product demand;•energy efficiencies and technological trends;•the issuance of executive orders, changes in applicable laws, regulations and policies, including tax, environmental, transportation, and employmentregulations, or new interpretations by regulatory agencies concerning such laws and regulations and the effect of such laws, regulations and policies(now existing or in the future) on our business operations;•the effect of executive orders and legislative and regulatory actions on hydraulic fracturing, water disposal and transportation, the treatment of flowbackand produced water, seismic activity, and drilling and right-of-way access on federal and state lands;•delays or restrictions in obtaining, utilizing or maintaining permits and/or rights-of-way by us or our customers;•hazards or operating risks related to transporting and distributing petroleum pro