Companies · Other Energy

NGL Energy Partners LP

TULSA · Other Energy

Diligence memoA one-page analyst read on NGL Energy Partners LP — recommendation, valuation, rhythm, risks.
$914.8M
Total raised · real
12
Rounds
0.1×
Latest step-up
Top 1%
Sector rank · raised
Growth/Late
Latest stage · inferred · Sun Sep 01 2013 00:00:00 GMT+0000 (Coordinated Universal Time)

NGL Energy Partners LP has raised $915M over 12 rounds; too few niche peers to rank its valuation yet.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the energy sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Dormant
  • Last raise 12.8 yr ago; this sector typically re-raises about every 12 months.
  • Silent for over 3× the sector's normal cadence.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

NGL Energy Partners LP behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
14.7 yr record
Peak capital year was 2012 with $553.2M across 6 filings.
Market position
ahead of 100% of Other Energy peers
Capital scale is ahead of 100% of Other Energy peers; modeled value is above 80% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Sparse
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Consistent
Canonical totals and visible filing detail are broadly aligned.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • No verified homepage on the profile yet.
  • Capital program peaked in 2012: $553.2M across 6 filings.
  • Largest single filing was $445.1M on 2012-06-19.
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
  • The more important signal is lifecycle: repeated filings ended years ago, so current activity needs outside confirmation.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Other Energy

NGL Energy Partners LP is one of 2049 Other Energy companies tracked from TULSA. By capital raised it ranks among the largest (ahead of 100% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$2.5B$5.0B$7.5B$10.0BSeries C · 2011-10-03 Raised $82M (real) Modeled valuation $980M (est)Series C2011Series D+ · 2011-11-01 Raised $188M (real) Modeled valuation $2.3B (est)Series D+2011Series D+ · 2012-01-03 Raised $31M (real) Modeled valuation $372M (est)Series D+2012Series D+ · 2012-05-01 Raised $17M (real) Modeled valuation $201M (est)Series D+2012Growth/Late · 2012-06-19 Raised $445M (real) Modeled valuation $5.5B (est)Growth/Late2012Growth/Late · 2012-07-16 Raised $2.3M (real) Modeled valuation $29M (est)Growth/Late2012Growth/Late · 2012-10-01 Raised $13M (real) Modeled valuation $164M (est)Growth/Late2012Growth/Late · 2012-11-13 Raised $45M (real) Modeled valuation $558M (est)Growth/Late2012Growth/Late · 2013-01-11 Raised $8.0M (real) Modeled valuation $99M (est)Growth/Late2013Growth/Late · 2013-07-01 Raised $5.0M (real) Modeled valuation $62M (est)Growth/Late2013Growth/Late · 2013-08-01 Raised $72M (real) Modeled valuation $894M (est)Growth/Late2013Growth/Late · 2013-09-01 Raised $6.5M (real) Modeled valuation $81M (est)Growth/Late2013Cumulative $915M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series C$81.9M · 2011
Series D+$188.2M · 2011
Series D+ extension$30.9M · 2012
Series D+ extension$16.6M · 2012
Growth/Late$445.1M · 2012
Growth/Late extension$2.3M · 2012
Growth/Late extension$13.2M · 2012
Growth/Late extension$45.0M · 2012
Growth/Late extension$8.0M · 2013
Growth/Late extension$5.0M · 2013
Growth/Late extension$72.0M · 2013
Growth/Late extension$6.5M · 2013

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 43%.

Modeled valuation trajectory
$80.6M
Base estimate est.
$48.2M
Conservative case
$145.2M
Upside case
$65.0M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Growth/Latea round over $400M). Valuation is modeled from stage benchmarks scaled by the energy sector profile. Directional, not a quoted figure.

Series C · modeled $980.4M · 2011-10-032011Series D+ · modeled $2.3B · 2011-11-01Series D+ · modeled $372.4M · 2012-01-03Series D+ · modeled $200.7M · 2012-05-01Growth/Late · modeled $5.5B · 2012-06-19Growth/Late · modeled $28.5M · 2012-07-16Growth/Late · modeled $163.8M · 2012-10-01Growth/Late · modeled $558.2M · 2012-11-13Growth/Late · modeled $99.2M · 2013-01-11Growth/Late · modeled $62.0M · 2013-07-01Growth/Late · modeled $893.8M · 2013-08-01Growth/Late · modeled $80.6M · 2013-09-012013
Model inputs · modeled:benchmark-stage-stepup-v1
10%
Dilution assumption
Implied ownership sold in the financing.
86%
Survival probability
74% low · 92% high
1.06×/yr
Annual markup
1.16×/yr upside case
6.0 yr
Elapsed time used
12.8 yr actual, capped for stale marks
energy
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
2 mo
Avg between rounds
$478.0M/yr
Capital velocity
14.7 yr
On record since
2011
First round
12
Rounds on file
How it compares to the market

Benchmarked against 2049 companies in Other Energy. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 267× above median
This company$914.8M
Sector median$3.4M
Latest round — vs other Growth/Late rounds in sector (real $, this stage) 0.0× of median
This company$6.5M
Sector median$500.0M
Modeled value — vs sector median (estimate, all stages) 4.7× above median
This company$80.6M
Sector median$17.0M

Raised more than 100% of sector peers (real $). Modeled value above 80% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Growth/Late) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0B$100.0B$100.0M$1.0B$10.0BCapital raised (log)Enbridge Energy Partners Lp · Growth/Late Raised $1.2B · modeled $14.9B (est)Shaw Copper & Brass Llc · Growth/Late Raised $1.0B · modeled $27.6M (est)NGL Energy Partners LP (this company) Raised $914.8M · modeled $80.6M (est)NGL Energy Partners LP
CompanyStageRaised · realValue · estvs peer med.
Enbridge Energy Partners LpGrowth/Late$1.2B$14.9B184.62×
NGL Energy Partners LP this companyGrowth/Late$914.8M$80.6M1.00×
Shaw Copper & Brass LlcGrowth/Late$1.0B$27.6M0.34×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series C$81.9M2011-10-03$545.9M$980.4M90%
Series D+$188.2M2011-11-01$1.6B$2.3B90%
Series D+$30.9M2012-01-03$257.5M$372.4M90%
Series D+$16.6M2012-05-01$138.8M$200.7M90%
Growth/Late$445.1M2012-06-19$4.5B$5.5B90%
Growth/Late$2.3M2012-07-16$23.0M$28.5M90%
Growth/Late$13.2M2012-10-01$132.0M$163.8M90%
Growth/Late$45.0M2012-11-13$450.0M$558.2M90%
Growth/Late$8.0M2013-01-11$80.0M$99.2M90%
Growth/Late$5.0M2013-07-01$50.0M$62.0M90%
Growth/Late$72.0M2013-08-01$720.5M$893.8M90%
Growth/Late$6.5M2013-09-01$65.0M$80.6M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series C$81.9M2011-10-03
    • First recorded raise — entered as Series C.
  2. Series D+$188.2M2011-11-01
    • Came back fast: 1 mo vs the ~12 mo sector norm.
    • Round 2.3× larger than the prior — scaling up.
  3. Series D+$30.9M2012-01-03
    • Came back fast: 2 mo vs the ~12 mo sector norm.
    • Round 6.1× smaller than the prior — bridge or down round.
  4. Series D+$16.6M2012-05-01
    • Came back fast: 4 mo vs the ~12 mo sector norm.
    • Round 1.9× smaller than the prior — bridge or down round.
  5. Growth/Late$445.1M2012-06-19
    • Came back fast: 2 mo vs the ~12 mo sector norm.
    • Round 26.7× larger than the prior — scaling up.
  6. Growth/Late$2.3M2012-07-16
    • Came back fast: 1 mo vs the ~12 mo sector norm.
    • Round 193.5× smaller than the prior — bridge or down round.
  7. Growth/Late$13.2M2012-10-01
    • Came back fast: 3 mo vs the ~12 mo sector norm.
    • Round 5.7× larger than the prior — scaling up.
  8. Growth/Late$45.0M2012-11-13
    • Came back fast: 1 mo vs the ~12 mo sector norm.
    • Round 3.4× larger than the prior — scaling up.
  9. Growth/Late$8.0M2013-01-11
    • Came back fast: 2 mo vs the ~12 mo sector norm.
    • Round 5.6× smaller than the prior — bridge or down round.
  10. Growth/Late$5.0M2013-07-01
    • Came back fast: 6 mo vs the ~12 mo sector norm.
    • Round 1.6× smaller than the prior — bridge or down round.
  11. Growth/Late$72.0M2013-08-01
    • Came back fast: 1 mo vs the ~12 mo sector norm.
    • Round 14.4× larger than the prior — scaling up.
  12. Growth/Late$6.5M2013-09-01
    • Came back fast: 1 mo vs the ~12 mo sector norm.
    • Round 11.1× smaller than the prior — bridge or down round.
Intelligence
2013 ~Q4
Modeled next raise · ~2mo cadence
$6.5M
Modeled next size est.range $6.5M$10.4M
0.1×
Last step-up
$478.0M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
John T. Raymond4 other2013-08
James J. Burke2 other2012-06
James L. Burke1 other2012-07
Norman J. Szydlowski1 other2011-11
William A. Zartler1 other2011-10
Atanas H. Atanasov2012-05
Bradley K. Atkinson2011-10
Brian K. Pauling2011-10
Bryan K. Guderian2012-06
Craig S. Jones2011-10
David C. Kehoe2012-06
David R. Eastin2012-05
H. Michael Krimbill2011-10
James C. Kneale2011-10
Jeffrey A Herbers2012-05
Kevin A. Clement2011-11
Kevin J. Clement2012-01
Patrice A. Armbruster2012-10
Patrick C. Wade2012-06
Sharra D. Straight2011-10
Sharra K. Straight2012-06
Sharra W. Straight2013-07
Shawn W. Coady2011-10
Stephen D. Tuttle2011-10
Registry & provenance

NGL Energy Partners LP is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1504461
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Solaris Oilfield Infrastructure, LLCOther EnergySeries C$60.0M$718.1Mnetwork2 shared operators · same sector
Rose Rock Midstream, L.P.Other EnergySeries C$59.3M$709.6Mnetwork1 shared operator · same sector
TerraVolta Resources, LLCOther EnergySeries C$53.2M$423.0Mnetwork1 shared operator · same sector
Coronado Group LLCCoal MiningGrowth/Late$419.6M$1.9Bnetwork1 shared operator · same stage
BrightSource Energy IncOther EnergySeries D+$505.8M$110.8Msame sector
Gradient Resources Inc.Other EnergySeries D+$388.8M$120.5Msame sector
Fulcrum Bioenergy IncOther EnergySeries D+$255.1M$60.0Msame sector
Harvest Power, Inc.Other EnergySeries D+$220.7M$72.3Msame sector
Frequently asked
How much funding has NGL Energy Partners LP raised?
NGL Energy Partners LP has raised approximately $914.8M in disclosed capital across 12 recorded financing rounds, aggregated from public filings.
What is NGL Energy Partners LP's estimated valuation?
Provath's modeled valuation for NGL Energy Partners LP is approximately $80.6M (modeled range $48.2M–$145.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is NGL Energy Partners LP at?
NGL Energy Partners LP's latest modeled financing stage is Growth/Late. Its most recent recorded round closed around Sun Sep 01.
What does NGL Energy Partners LP do and where is it based?
NGL Energy Partners LP operates in the Other Energy sector, based in TULSA.
Explore related

See where NGL Energy Partners LP sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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