NGL Energy Partners LP (NGL)

[bar1080]

"One of the worst MLP companies out there, except this one is significantly worse off as a sizable chunk of their revenue is reliant on water processing for production companies. Lower production (expected) means lower water processing volumes.

"Their primary pipeline (Grand Mesa) is heavily reliant on XOG (now bankrupt) paying tolls that are WAY above market and will 10000% be renegotiated lower (in a best case scenario).

"This company is over-leveraged and the management cannot be trusted with their sky-high productions that 80% of the time miss estimates."

The above is an Oct 16, 2020 comment by Lookuphere from SA that lays out most of NGL's shortcomings.
https://seekingalpha.com/news/3622886-ngl-energy-cut-to-sell-ubs-on-potential-impact-of-extraction-deals