Financial Results - NGL Energy Partners LP reported a net income from continuing operations of $29.8 million for the second quarter of Fiscal 2026, compared to $7.5 million for the same period in Fiscal 2025 [6] - Adjusted EBITDA for the second quarter of Fiscal 2026 was $167.3 million, an increase from $149.4 million in the second quarter of Fiscal 2025 [6] - Total revenues for the quarter ended September 30, 2025, were $674.7 million, down from $756.5 million in the prior year [23] Water Solutions Segment - Operating income for the Water Solutions segment increased by $19.5 million to $92.4 million for the quarter ended September 30, 2025, driven by higher disposal revenues and increased water pipeline revenue [5][6] - The Partnership processed approximately 2.80 million barrels of produced water per day during the quarter, a 4.5% increase from 2.68 million barrels per day in the same quarter of the previous year [5][6] - Paid and physically disposed water volumes grew by 14% to 3.15 million barrels per day in the second quarter of Fiscal 2026 [6] Crude Oil Logistics Segment - Operating income for the Crude Oil Logistics segment decreased by $6.6 million to $8.2 million for the quarter ended September 30, 2025, primarily due to reduced gains on derivatives [10] - Physical volumes on the Grand Mesa Pipeline averaged approximately 72,000 barrels per day, an increase from 63,000 barrels per day in the prior year [10] Liquids Logistics Segment - Operating income for the Liquids Logistics segment increased by $3.7 million to $6.3 million for the quarter ended September 30, 2025, attributed to lower expenses related to the sale of the Wholesale Propane business and increased margins [11] Guidance Update - NGL increased its consolidated Adjusted EBITDA guidance for Fiscal 2026 to a range of $650 million to $660 million, up from the previous range of $615 million to $625 million [6] - The company expects Fiscal 2027 Adjusted EBITDA to exceed $700 million, supported by new contracts executed for over 500,000 barrels per day of produced water disposal [6] Capitalization and Liquidity - Total liquidity as of September 30, 2025, was approximately $359.1 million, with borrowings on the asset-based revolving credit facility totaling approximately $71.0 million [12] - The Partnership is in compliance with all debt covenants and has no upcoming debt maturities [12]

Group 1 - BASF SE entered into a long-term agreement with AltaGas Ltd. to secure butane supply for its production in Asia, with the deal involving procurement through the Ridley Island Energy Export Facility, expected to be completed by the end of 2026 [1][2][8] - The agreement allows BASF to source competitive and reliable butane from Western Canada, diversifying its cracker feedstock portfolio in the Asia Pacific and enhancing shipping reliability [2][8] - AltaGas benefits from the agreement by reducing export platform risk and adding a high-quality customer to its base of over 70 Canadian producers and Asian customers [3][8] Group 2 - BASF's stock has increased by 15% over the past year, contrasting with a 13% decline in the industry [5] - BASF currently holds a Zacks Rank of 3 (Hold), while other companies in the Basic Materials sector, such as Royal Gold, Inc. and Coeur Mining, Inc., have higher rankings [6] - The Zacks Consensus Estimate for Royal Gold's current-year earnings indicates a 42% year-over-year increase, reflecting strong performance in the sector [7]