NGL Energy Partners LP, which transports oil and also treats, recycles and disposes of water generated as part of the energy production process – said it got off to a slow start in calendar 2021 because of Winter Storm Uri and lingering effects of the pandemic.

US crude oil production

But the Tulsa-based company sees brighter days ahead with crude prices comfortably above $60/bbl and signs of activity picking up in the oil-producing Permian Delaware sub-basin in West Texas and New Mexico as well as the Denver-Julesburg (DJ) Basin in Colorado.

NGL “is well positioned going into its fiscal 2022, as crude prices, producer volumes and demand for commodities have all increased following a challenging fiscal 2021,” CEO Michael Krimbill said.

“Our water solutions segment continues to drive”...