NGL Energy Partners LP reported consolidated Adjusted EBITDA of $147.652 million for the third quarter of Fiscal 2025, a decrease from $151.670 million in the prior year period. The Water Solutions segment's operating income decreased by $8.9 million to $65.379 million, primarily due to higher impairment losses, but processed approximately 2.62 million barrels of produced water per day, a 10.4% increase.
The Crude Oil Logistics segment's operating income decreased by $7.0 million to $10.024 million, with Grand Mesa Pipeline volumes averaging approximately 61,000 barrels per day, down from 70,000 barrels per day. The Liquids Logistics segment's operating income decreased by $10.8 million to $11.676 million, impacted by lower margins and increased derivative losses across products.
During the quarter, NGL completed the majority of the wind-down of its biodiesel business, a strategic move to reduce volatility. The partnership expects to liquidate all inventory by the end of February 2025 and sublease the remaining railcars by March 31, 2025. Total liquidity stood at approximately $292.1 million as of December 31, 2024, with $226.0 million borrowed on the ABL facility.
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