NGL Energy Partners announced an increase to its Fiscal 2023 Adjusted EBITDA guidance. The Partnership has increased its Adjusted EBITDA guidance for the current fiscal year from greater than $600 million to greater than $630 million. Of this amount, more than $430 million is expected to be generated from the Partnership’s Water Solutions segment. Additionally, the Partnership disclosed that it has reduced debt balances by approximately $227 million during its third fiscal quarter and has a total debt balance of $3.258 billion as of December 31, 2022. "We are excited to update our Fiscal 2023 Adjusted EBITDA guidance to greater than $630 million as we continue to see increases in water volumes processed in the Delaware Basin as well as other cash flow positive developments. We have eagerly anticipated this growth and are pleased to see years of hard work resulting in improved performance," stated CEO Mike Krimbill. "As we increase Adjusted EBITDA and reduce indebtedness, we continue to de-lever."
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