NGL to da moon (well, maybe to $10?)!! Message Board

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Gold/Mining/Energy : NGL to da moon (well, maybe to $10?)!!

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To: Elroy who wrote (12)	8/8/2023 8:55:13 AM
From: Elroy	of 127

NGL reports Q2 results Wednesday after the close. I got no idea what specifically to expect, but each quarter that rolls by, the cash flows allow a bit more debt repurchase, with the eventual goal being to refinance and push out all the 2025/6 debt. My hunch is that along with the refinancing of the existing debt, they will make current (and perhaps repurchase) the preferred stock (that is currently in arrears). Once that big mess is finished, free cash is likely used for a split between debt reduction and distributions. If things just continue as they have been for the past few years I think BGL should resume distributions by 2026, and the units likely respond well to that development.

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