Louis John Schaufele IV stepped down as EMG I NGL Holdings LLC-designated director at the board of NGL Energy Holdings LLC, the general partner of NGL Energy Partners LP.
The resignation, effective immediately, came after NGL Energy Partners bought a 5.73% stake in the general partner from EMG I NGL for $11.5 million in cash, according to a Sept. 6 SEC filing. The partnership said the departure was not caused by a disagreement on matters relating to operations, policies or practices.
NGL Energy Partners' integrated energy business is composed of assets in crude oil logistics, water solutions, NGLs and refined products and renewables.
