NGL Energy Partners announces $50M common unit repurchase program

NGL Energy Partners LP announced that the Board of Directors of its general partner has authorized a common unit repurchase program, under which NGL may repurchase up to $50M of its outstanding units representing limited partnership interests of NGL and does not have a fixed expiration date. Under the common unit repurchase program, NGL may purchase shares of common units on a discretionary basis from time to time through open market transactions or privately negotiated transactions at prices deemed appropriate by NGL. In addition, at the discretion of NGL, open market repurchase of common units may also be made under a Rule 10b5-1 plan, which would permit common units to be repurchased when NGL might otherwise be precluded from doing so under insider trading laws or self-imposed trading restrictions.