NGL Energy Partners LP (NYSE:NGL) Q2 2023 Results Conference Call November 9, 2022 5:00 PM ET
Company Participants
Linda Bridges - CFO
Mike Krimbill - CEO
Conference Call Participants
Operator
Good day, ladies and gentlemen, and welcome to the NGL Energy Partners LP 2Q '23 Earnings Call. [Operator Instructions]
It is now my pleasure to turn the floor over to your host, Linda Bridges, CFO at NGL Energy Partners. Ma'am, the floor is yours.
Linda Bridges
Hi, and welcome to NGL's second quarter fiscal 2023 earnings call. As usual, I'd like to call your attention to our safe harbor language, which can be found towards the end of today's earnings release, which was filed after market closed this afternoon.
Today's remarks may contain forward-looking statements within the meaning of the Private Securities and Litigation Reform Act of 1995. In accordance with the Act, I would also like to direct your attention to the Management's Discussion and Analysis section and the risk factors discussed in the Partnership's annual report on Form 10-K for the year ended March 31, 2022, and in other SEC filings made by the Partnership, which are available on our website and on the SEC's website. These, together with the safe harbor statement in the earnings release set forth important factors that could cause actual results to differ materially from those contained in any such forward-looking statements.
Jumping into the financials. Our Water Solutions segment showed very strong performance and growth in volumes during our second fiscal quarter. Adjusted EBITDA for the quarter totaled $104.8 million with year-to-date adjusted EBITDA totaling $209.9 million, representing a 24% increase compared to the first half of fiscal 2022.
We continue to see increases in water disposal volumes, particularly in the Delaware Basin as producers actively complete new wells and the base volume on our system grows. Produced water volume processed totaled approximately 2.3 million barrels per day, growing nearly 29% from the comparable quarter last year and over 5% from the previous fiscal quarter.
Total [Technical Difficulty] which includes disposal and skim oil revenue offset by OpEx per barrel remained strong at $0.47. We remain confident in our full year guidance of over $410 million for this segment.
The Liquids Logistics segment reported adjusted EBITDA of $16.5 million for the second quarter of fiscal 2023 and $29.4 million year-to-date compared to $18.5 million and $24 million for the respective periods last year.