NGL Energy Partners (NGL) 10-Q10 Nov 142015 Q2 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
Document and Entity Information	Sep. 30, 2014	Nov. 03, 2014
Entity Registrant Name	'NGL Energy Partners LP	'
Entity Central Index Key	'0001504461	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--03-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	89,404,315
Document Fiscal Year Focus	'2015	'
Document Fiscal Period Focus	'Q2	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified	Sep. 30, 2014	Mar. 31, 2014
CURRENT ASSETS:	'	'
Cash and cash equivalents	$11,823	$10,440
Accounts receivable - trade, net of allowance for doubtful accounts of $2,816 and $2,822, respectively	1,433,117	900,904
Accounts receivable - affiliates	41,706	7,445
Inventories	941,589	310,160
Prepaid expenses and other current assets	156,818	80,350
Total current assets	2,585,053	1,309,299
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation of $153,057 and $109,564, respectively	1,433,313	829,346
GOODWILL	1,170,490	1,107,006
INTANGIBLE ASSETS, net of accumulated amortization of $166,484 and $116,728, respectively	838,088	714,956
INVESTMENTS IN UNCONSOLIDATED ENTITIES	482,644	189,821
OTHER NONCURRENT ASSETS	42,091	16,795
Total assets	6,551,679	4,167,223
CURRENT LIABILITIES:	'	'
Accounts payable - trade	1,345,024	740,211
Accounts payable - affiliates	85,307	76,846
Accrued expenses and other payables	218,482	141,690
Advance payments received from customers	106,105	29,965
Current maturities of long-term debt	5,062	7,080
Total current liabilities	1,759,980	995,792
LONG-TERM DEBT, net of current maturities	2,437,351	1,629,834
OTHER NONCURRENT LIABILITIES	39,518	9,744
COMMITMENTS AND CONTINGENCIES	'	'
EQUITY, per accompanying statement:	'	'
General partner, representing a 0.1% interest, 88,634 and 79,420 notional units at September 30, 2014 and March 31, 2014, respectively	-39,690	-45,287
Limited partners, representing a 99.9% interest -	'	'
Accumulated other comprehensive loss	-73	-236
Noncontrolling interests	568,770	5,274
Total equity	2,314,830	1,531,853
Total liabilities and equity	6,551,679	4,167,223
Common Units	'	'
Limited partners, representing a 99.9% interest -	'	'
Limited partners, representing a 99.9% interest -	1,785,823	1,570,074
Subordinated Units	'	'
Limited partners, representing a 99.9% interest -	'	'
Limited partners, representing a 99.9% interest -	'	$2,028

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	6 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Mar. 31, 2014
Accounts receivable - trade, allowance for doubtful accounts (in dollars)	$2,816	$2,822
PROPERTY, PLANT AND EQUIPMENT, accumulated depreciation (in dollars)	153,057	109,564
INTANGIBLE ASSETS, accumulated amortization (in dollars)	$166,484	$116,728
General partner, interest (as a percent)	0.10%	0.10%
General partner, notional units outstanding	88,634	79,420
Limited partners, interest (as a percent)	99.90%	99.90%
Common Units	'	'
Units issued	88,545,764	73,421,309
Units outstanding	88,545,764	73,421,309
Subordinated Units	'	'
Units issued	'	5,919,346
Units outstanding	'	5,919,346

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
REVENUES:	'	'	'	'
Crude oil logistics	$2,111,143	$1,014,008	$4,040,426	$1,944,802
Water solutions	52,719	34,190	100,033	54,703
Liquids	539,753	484,874	1,014,910	845,833
Retail propane	68,358	59,380	146,260	131,597
Refined products and renewables	2,607,220	'	3,724,717	'
Other	1,333	1,485	2,794	2,959
Total Revenues	5,380,526	1,593,937	9,029,140	2,979,894
COST OF SALES:	'	'	'	'
Crude oil logistics	2,083,712	992,135	3,981,351	1,901,354
Water solutions	-9,439	3,782	1,134	4,365
Liquids	514,064	459,394	976,080	809,645
Retail propane	39,894	33,539	87,418	76,562
Refined products and renewables	2,550,851	'	3,665,164	'
Other	383	'	2,371	'
Total Cost of Sales	5,179,465	1,488,850	8,713,518	2,791,926
OPERATING COSTS AND EXPENSES:	'	'	'	'
Operating	101,553	55,769	169,421	104,814
General and administrative	41,639	14,312	69,512	32,766
Depreciation and amortization	50,099	25,061	89,474	47,785
Operating Income (Loss)	7,770	9,945	-12,785	2,603
OTHER INCOME (EXPENSE):	'	'	'	'
Earnings of unconsolidated entities	3,697	'	6,262	'
Interest expense	-28,651	-11,060	-49,145	-21,682
Other, net	-617	419	-1,008	469
Loss before Income Taxes	-17,801	-696	-56,676	-18,610
INCOME TAX (PROVISION) BENEFIT	1,922	-236	887	170
Net Loss	-15,879	-932	-55,789	-18,440
LESS: NET INCOME ALLOCATED TO GENERAL PARTNER	-11,056	-2,451	-20,437	-4,139
LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	-3,345	-9	-3,410	-134
NET LOSS ALLOCATED TO LIMITED PARTNERS	-30,280	-3,392	-79,636	-22,713
Common Units	'	'	'	'
OTHER INCOME (EXPENSE):	'	'	'	'
NET LOSS ALLOCATED TO LIMITED PARTNERS	($30,280)	($2,830)	($75,623)	($19,637)
BASIC AND DILUTED LOSS PER COMMON UNIT (in dollars per unit)	($0.34)	($0.05)	($0.93)	($0.37)
BASIC AND DILUTED WEIGHTED AVERAGE UNITS OUTSTANDING:	'	'	'	'
COMMON UNITS OUTSTANDING (In shares)	88,331,653	58,909,389	81,267,742	53,336,969

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (Loss) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Net loss	($15,879)	($932)	($55,789)	($18,440)
Other comprehensive income (loss)	-22	-5	163	-30
Comprehensive loss	($15,901)	($937)	($55,626)	($18,470)

Condensed_Consolidated_Stateme2

Condensed Consolidated Statement of Changes in Equity (USD $)	Total	Accumulated Other Comprehensive Loss	Noncontrolling Interests	General Partner	Limited Partners	Limited Partners
In Thousands, except Share data, unless otherwise specified	Total	Accumulated Other Comprehensive Loss	Noncontrolling Interests	General Partner	Common Units	Subordinated Units
BALANCES at Mar. 31, 2014	$1,531,853	($236)	$5,274	($45,287)	$1,570,074	$2,028
BALANCES (in units) at Mar. 31, 2014	'	'	'	'	73,421,309	5,919,346
Increase (Decrease) in Partnership Capital	'	'	'	'	'	'
Distributions	-119,662	'	-8,654	-15,235	-89,025	-6,748
Contributions	395	'	'	395	'	'
Sales of units, net of issuance costs	370,446	'	'	'	370,446	'
Sales of units, net of issuance costs (in units)	'	'	'	'	8,767,100	'
Conversion of subordinated units to common units	'	'	'	'	-8,733	8,733
Conversion of subordinated units to common units (in units)	'	'	'	'	5,919,346	-5,919,346
Equity issued pursuant to incentive compensation plan	18,684	'	'	'	18,684	'
Equity issued pursuant to incentive compensation plan (in units)	'	'	'	'	438,009	'
Business combinations	568,740	'	568,740	'	'	'
Net income (loss)	-55,789	'	3,410	20,437	-75,623	-4,013
Other comprehensive income	163	163	'	'	'	'
BALANCES at Sep. 30, 2014	$2,314,830	($73)	$568,770	($39,690)	$1,785,823	'
BALANCES (in units) at Sep. 30, 2014	'	'	'	'	88,545,764	'

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
OPERATING ACTIVITIES:	'	'
Net loss	($55,789)	($18,440)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Depreciation and amortization, including debt issuance cost amortization	97,624	51,821
Non-cash equity-based compensation expense	11,758	6,762
Loss on disposal or impairment of assets	4,566	2,163
Provision for doubtful accounts	1,347	781
Commodity derivative (gain) loss	-38,496	17,881
Earnings of unconsolidated entities	-6,262	'
Distributions from unconsolidated entities	5,180	'
Other	-837	8
Changes in operating assets and liabilities, exclusive o f acquisitions:	'	'
Accounts receivable - trade	-358,497	-28,013
Accounts receivable - affiliates	-33,733	19,812
Inventories	-203,965	-226,727
Prepaid expenses and other assets	-56,109	-10,830
Accounts payable - trade	463,767	60,725
Accounts payable - affiliates	8,392	11,529
Accrued expenses and other liabilities	25,719	18,162
Advance payments received from customers	73,700	45,622
Net cash used in operating activities	-61,635	-48,744
INVESTING ACTIVITIES:	'	'
Purchases of long-lived assets	-82,851	-67,399
Acquisitions of businesses, including acquired working capital, net of cash acquired	-658,764	-392,605
Cash flows from commodity derivatives	4,327	-19,074
Proceeds from sales of assets	8,741	2,224
Investments in unconsolidated entities	-26,390	'
Distributions of capital from unconsolidated entities	4,649	'
Net cash used in investing activities	-750,288	-476,854
FINANCING ACTIVITIES:	'	'
Proceeds from borrowings under revolving credit facilities	1,979,500	1,061,500
Payments on revolving credit facilities	-1,804,000	-893,000
Issuance of notes	400,000	'
Proceeds from borrowings on other long-term debt	'	880
Payments on other long-term debt	-4,175	-4,507
Debt issuance costs	-9,198	-2,218
Contributions	395	2,444
Distributions to owners	-111,008	-60,623
Distributions to noncontrolling interest partners	-8,654	'
Proceeds from sale of common units, net of offering costs	370,446	415,089
Net cash provided by financing activities	813,306	519,565
Net increase (decrease) in cash and cash equivalents	1,383	-6,033
Cash and cash equivalents, beginning of period	10,440	11,561
Cash and cash equivalents, end of period	$11,823	$5,528

Organization_and_Operations

Organization and Operations	6 Months Ended
Organization and Operations	Sep. 30, 2014
Organization and Operations	'
Organization and Operations	'
	Note 1 — Organization and Operations

	NGL Energy Partners LP (“we,” “us,” “our,” or the “Partnership”) is a Delaware limited partnership. NGL Energy Holdings LLC serves as our general partner. At September 30, 2014, our operations include:

	· Our crude oil logistics segment, the assets of which include owned and leased crude oil storage terminals, pipeline injection stations, a fleet of trucks, a fleet of leased and owned railcars, and a fleet of barges and towboats, and a 50% interest in a crude oil pipeline. Our crude oil logistics segment purchases crude oil from producers and transports it for resale at owned and leased pipeline injection points, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs.

	· Our water solutions segment, the assets of which include water treatment and disposal facilities. Our water solutions segment generates revenues from the treatment and disposal of wastewater generated from crude oil and natural gas production, and from the sale of recycled water and recovered hydrocarbons.

	· Our liquids segment, which supplies natural gas liquids to retailers, wholesalers, refiners, and petrochemical plants throughout the United States and in Canada, and which provides natural gas liquids terminaling services through its 22 terminals throughout the United States and railcar transportation services through its fleet of leased and owned railcars. Our liquids segment purchases propane, butane, and other products from refiners, processing plants, producers, and other parties, and sells the product to retailers, refiners, petrochemical plants, and other participants in the wholesale markets.

	· Our retail propane segment, which sells propane, distillates, and equipment and supplies to end users consisting of residential, agricultural, commercial, and industrial customers and to certain re-sellers in more than 20 states.

	· Our refined products and renewables segment, which conducts gasoline, diesel, ethanol, and biodiesel marketing operations. We also own the 2.0% general partner interest and a 19.7% limited partner interest in TransMontaigne Partners L.P. (“TLP”), which conducts refined products terminaling operations. TLP also owns a 42.5% interest in Battleground Oil Specialty Terminal Company LLC (“BOSTCO”) and a 50% interest in Frontera Brownsville LLC (“Frontera”), which are entities that own refined products storage facilities.

Significant_Accounting_Policie

Significant Accounting Policies	6 Months Ended
Significant Accounting Policies	Sep. 30, 2014
Significant Accounting Policies	'
Significant Accounting Policies	'
	Note 2 — Significant Accounting Policies

	Basis of Presentation

	The unaudited condensed consolidated financial statements as of and for the three months and six months ended September 30, 2014 and 2013 include our accounts and those of our controlled subsidiaries. Investments where we do not have the ability to exercise control, but do have the ability to exercise significant influence, are accounted for using the equity method of accounting. All significant intercompany transactions and account balances have been eliminated in consolidation. The unaudited condensed consolidated balance sheet at March 31, 2014 is derived from audited financial statements. We have made certain reclassifications to prior period financial statements to conform to classification methods used in fiscal year 2015. These reclassifications had no impact on previously reported amounts of equity or net income.

	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim consolidated financial information in accordance with the rules and regulations of the Securities and Exchange Commission. The unaudited condensed consolidated financial statements include all adjustments that we consider necessary for a fair presentation of our consolidated financial position and results of operations for the interim periods presented. Such adjustments consist of only normal recurring items, unless otherwise disclosed herein. Accordingly, the unaudited condensed consolidated financial statements do not include all the information and notes required by GAAP for complete annual consolidated financial statements. However, we believe that the disclosures made are adequate to make the information not misleading. These interim unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements for the fiscal year ended March 31, 2014 included in our Annual Report on Form 10-K (the “Annual Report”). Due to the seasonal nature of our natural gas liquids operations and other factors, the results of operations for interim periods are not necessarily indicative of the results to be expected for a full year.

	Use of Estimates

	The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amount of revenues and expenses during the period. Actual results could differ from those estimates.

	Significant Accounting Policies

	Our significant accounting policies are consistent with those disclosed in Note 2 of our audited consolidated financial statements included in our Annual Report.

	Revenue Recognition

	We record revenues from product sales at the time title to the product transfers to the purchaser, which typically occurs upon receipt of the product by the purchaser. We record terminaling, transportation, storage, and service revenues at the time the service is performed, and we record tank and other rentals over the term of the lease. Pursuant to terminaling services agreements with certain of our throughput customers, we are entitled to the volume of product gained resulting from differences in the measurement of product volumes received and distributed at our terminaling facilities. Such measurement differentials occur as the result of the inherent variances in measurement devices and methodology. We recognize as revenue the net proceeds from the sale of the product gained. Revenues for our water solutions business are recognized upon receipt of the wastewater at our disposal facilities.

	We report taxes collected from customers and remitted to taxing authorities, such as sales and use taxes, on a net basis. Amounts billed to customers for shipping and handling costs are included in revenues in our condensed consolidated statements of operations.

	We enter into certain contracts whereby we agree to purchase product from a counterparty and sell the same volume of product to the same counterparty at a different location or time. When such agreements are entered into concurrently and are entered into in contemplation of each other, we record the revenues for these transactions net of cost of sales.

	Fair Value Measurements

	We apply fair value measurements to certain assets and liabilities, principally our commodity derivative instruments and assets and liabilities acquired in business combinations. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. Fair value is based upon assumptions that market participants would use when pricing an asset or liability, including assumptions about risk and risks inherent in valuation techniques and inputs to valuations. This includes not only the credit standing of counterparties and credit enhancements but also the impact of our own nonperformance risk on our liabilities. Fair value measurements assume that the transaction occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability (the market for which the reporting entity would be able to maximize the amount received or minimize the amount paid). We evaluate the need for credit adjustments to our derivative instrument fair values in accordance with the requirements noted above. Such adjustments were not material to the fair values of our derivative instruments.

	We use the following fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels:

	· Level 1 — Quoted prices (unadjusted) in active markets for identical assets and liabilities that we have the ability to access at the measurement date.

	· Level 2 — Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived from observable market data by correlation or other means. Instruments categorized in Level 2 include non-exchange traded derivatives such as over-the-counter commodity price swap and option contracts and interest rate protection agreements. The majority of our fair value measurements related to our derivative financial instruments were categorized as Level 2 at September 30, 2014 and March 31, 2014 (see Note 11). We determine the fair value of all our derivative financial instruments utilizing pricing models for significantly similar instruments. Inputs to the pricing model include publicly available prices and forward curves generated from a compilation of data gathered from third parties.

	· Level 3 — Unobservable inputs for the asset or liability including situations where there is little, if any, market activity for the asset or liability. We did not have any fair value measurements categorized as Level 3 at September 30, 2014 or March 31, 2014.

	The fair value hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3). In some cases, the inputs used to measure fair value might fall into different levels of the fair value hierarchy. The lowest level input that is significant to a fair value measurement determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to the fair value measurement requires judgment, considering factors specific to the asset or liability.

	Supplemental Cash Flow Information

	Supplemental cash flow information is as follows:

			Three Months Ended					Six Months Ended
			September 30,					September 30,
			2014			2013		2014		2013
			(in thousands)
	Interest paid, exclusive of debt issuance costs and letter of credit fees		$	10,445		$	8,423	$	36,429	$	16,908
	Income taxes paid		$	1,241		$	369	$	2,246	$	650

	Value of common units issued in business combinations		$	—		$	80,619	$	—	$	80,619

	Cash flows from settlements of commodity derivative instruments are classified as cash flows from investing activities in the condensed consolidated statements of cash flows, and adjustments to the fair value of commodity derivative instruments are included in the reconciliation of net loss to net cash used in operating activities.

	Inventories

	We value our inventories at the lower of cost or market, with cost determined using either the weighted-average cost or the first in, first out (FIFO) methods, including the cost of transportation and storage. In performing this analysis, we take into consideration fixed-price forward sale commitments and the opportunity to transfer propane inventory from our wholesale business to our retail business for sale in the retail markets.

	Inventories consist of the following:

			September 30,			March 31,
			2014			2014
			(in thousands)
	Crude oil		$	136,722		$	156,473
Natural gas liquids —
Propane		207,694			85,159
Butane		84,822			15,106
Other		27,091			3,945
Refined products —
Gasoline		219,111			15,597
Diesel		214,567			7,298
Other		3,675			314
Renewables		36,517			11,778
Other		11,390			14,490
Total		$	941,589		$	310,160

Investments in Unconsolidated Entities

In December 2013, as part of our acquisition of Gavilon, LLC (“Gavilon Energy”), we acquired a 50% interest in Glass Mountain Pipeline, LLC (“Glass Mountain”) and an 11% interest in a limited liability company that owns an ethanol production facility. In June 2014, we acquired an interest in a limited liability company that operates a water supply business. On July 1, 2014, as part of our acquisition of TransMontaigne Inc. (“TransMontaigne”), we acquired TLP, which owns a 42.5% interest in BOSTCO and a 50% interest in Frontera. We account for these investments using the equity method of accounting. Under the equity method, we do not report the individual assets and liabilities of these entities on our condensed consolidated balance sheets; instead, our ownership interests are reported within investments in unconsolidated entities on our condensed consolidated balance sheets. Under the equity method, the investment is recorded at acquisition cost, increased by our proportionate share of any earnings and additional capital contributions and decreased by our proportionate share of any losses, distributions paid and amortization of any excess investment. Excess investment is the amount by which our total investment exceeds our proportionate share of the book value of the net assets of the investment entity.

Our investments in unconsolidated entities consist of the following:

		September 30,			March 31,
		2014			2014
		(in thousands)
Glass Mountain (1)		$	189,847		$	181,488
Ethanol production facility		9,361			8,333
Water supply company		15,026			—
BOSTCO (2)		244,092			—
Frontera		24,318			—
Total		$	482,644		$	189,821


(1) When we acquired Gavilon we recorded the investment in Glass Mountain at fair value. The fair value of our investment in Glass Mountain exceeds our share of the historical net book value of Glass Mountain’s net assets by approximately $70 million. This difference relates primarily to goodwill and customer relationships.

(2) When we acquired TransMontaigne, we recorded the investment in BOSTCO at fair value. The fair value of our investment in BOSTCO exceeds our share of the historical net book value of BOSTCO’s net assets by approximately $24 million.

Accrued Expenses and Other Payables

Accrued expenses and other payables consist of the following:

		September 30,			March 31,
		2014			2014
		(in thousands)
Accrued compensation and benefits		$	49,146		$	45,006
Derivative liabilities		39,023			42,214
Product exchange liabilities		43,185			3,719
Accrued interest		23,945			18,668
Income and other tax liabilities		38,255			13,421
Other		24,928			18,662
Total		$	218,482		$	141,690

Business Combination Measurement Period

We record the assets acquired and liabilities assumed in a business combination at their acquisition-date fair values. Pursuant to GAAP, an entity is allowed a reasonable period of time (not to exceed one year) to obtain the information necessary to identify and measure the fair value of the assets acquired and liabilities assumed in a business combination. As described in Note 4, certain of our acquisitions are still within this measurement period, and as a result, the acquisition-date fair values we have recorded for the assets acquired and liabilities assumed are subject to change. Also as described in Note 4, we made certain adjustments during the six months ended September 30, 2014 to our estimates of the acquisition-date fair values of assets acquired and liabilities assumed in business combinations that occurred during the year ended March 31, 2014.

Noncontrolling Interests

We have certain consolidated subsidiaries in which outside parties own interests. The noncontrolling interest shown in our condensed consolidated financial statements represents the other owners’ share of these entities.

On July 1, 2014, as part of our acquisition of TransMontaigne, we acquired a 19.7% limited partner interest in TLP. We have attributed net earnings allocable to TLP’s limited partners to the controlling and noncontrolling interests based on the relative ownership interests in TLP as well as including certain adjustments related to our acquisition accounting. Net earnings allocable to TLP’s limited partners are net of the earnings allocable to TLP’s general partner interest. The earnings allocable to TLP’s general partner interest include the distributions of available cash (as defined by TLP’s partnership agreement) attributable to the period to TLP’s general partner interest and incentive distribution rights, net of adjustments for TLP’s general partner’s share of undistributed earnings. Undistributed earnings are allocated to TLP’s limited partners and TLP’s general partner interest based on their respective sharing of earnings or losses specified in TLP’s partnership agreement, which is based on their ownership percentages of 98% and 2%, respectively.

Earnings_Per_Unit

Earnings Per Unit	6 Months Ended
	Sep. 30, 2014
Earnings Per Unit	'
Earnings Per Unit	'
	Note 3 — Earnings Per Unit

	Our earnings per common unit were computed as follows:

		Three Months Ended						Six Months Ended
		September 30,						September 30,
		2014			2013			2014			2013
		(in thousands, except unit and per unit amounts)
	Net loss attributable to parent equity	$	(19,224	)	$	(941	)	$	(59,199	)	$	(18,574	)
	Less: net income allocated to general partner (1)	(11,056		)	(2,451		)	(20,437		)	(4,139		)
	Net loss allocated to subordinated unitholders (2)	—			562			4,013			3,076
	Net loss allocated to common unitholders	$	(30,280	)	$	(2,830	)	$	(75,623	)	$	(19,637	)

	Weighted average common units outstanding	88,331,653			58,909,389			81,267,742			53,336,969

	Loss per common unit - basic and diluted	$	(0.34	)	$	(0.05	)	$	(0.93	)	$	(0.37	)


	(1) The net income allocated to the general partner includes distributions to which it is entitled as the holder of incentive distribution rights, which are described in Note 10.
	(2) All outstanding subordinated units converted to common units in August 2014. Since the subordinated units did not share in the distribution of cash generated during the three months ended September 30, 2014, we did not allocate any earnings or loss during this period to the subordinated unitholders. During the three months ended June 30, 2014 and the six months ended September 30, 2013, 5,919,346 subordinated units were outstanding. The loss per subordinated unit was $(0.68) for the three months ended June 30, 2014, $(0.09) for the three months ended September 30, 2013, and $(0.52) for the six months ended September 30, 2013.

	The restricted units described in Note 10 were antidilutive during the three months and six months ended September 30, 2014 and 2013, but could impact earnings per unit in future periods.

Acquisitions

Acquisitions	6 Months Ended
Acquisitions	Sep. 30, 2014
Acquisitions	'
Acquisitions	'
	Note 4 — Acquisitions

	Year Ending March 31, 2015

	TransMontaigne Inc.

	On July 1, 2014, we acquired TransMontaigne for $174.2 million of cash, net of cash acquired. As part of this transaction, we also purchased $380.4 million of inventory from the previous owner of TransMontaigne (including $346.9 million paid at closing and $33.5 million subsequently paid as the working capital settlement process progressed). The operations of TransMontaigne include the marketing of refined products and crude oil. As part of this transaction, we acquired the 2.0% general partner interest, the incentive distribution rights, and a 19.7% limited partner interest in TLP, and assumed certain terminaling service agreements with TLP from an affiliate of the previous owner of TransMontaigne. The acquisition agreement contemplates a post-closing adjustment to the purchase price for certain working capital items. We estimate that we will pay an additional $27.5 million once the working capital settlement process has been completed.

	We are in the process of identifying and determining the fair value of the assets acquired and liabilities assumed in this business combination. The estimates of fair value reflected at September 30, 2014 are subject to change, and such changes could be material. We expect to complete this process prior to finalizing our financial statements for the quarter ending June 30, 2015. We have preliminarily estimated the fair values of the assets acquired (and useful lives) and liabilities assumed as follows (in thousands):

	Cash and cash equivalents		$	1,469
	Accounts receivable - trade		197,349
	Accounts receivable - affiliates		528
	Inventories		426,913
	Prepaid expenses and other current assets		15,373
	Property, plant and equipment:
	Refined products terminal assets (20 years)		418,405
	Buildings and leasehold improvements (20 years)		10,339
	Crude oil tanks and related equipment (20 years)		28,666
	Vehicles		1,565
	Land		56,095
	Information technology equipment		7,851
	Other		12,592
	Construction in progress		4,487
	Goodwill (1)		29,118
	Intangible assets:
	Customer relationships (7 years)		50,000
	Pipeline capacity rights (30 years)		87,000
	Trade names (indefinite life)		5,000
	Equity method investments		250,000
	Other noncurrent assets		3,911
	Accounts payable - trade		(140,597		)
	Accounts payable - affiliates		(69		)
	Accrued expenses and other payables		(73,565		)
	Advance payments received from customers		(1,919		)
	Long-term debt		(234,000		)
	Other noncurrent liabilities		(34,856		)
	Noncontrolling interests		(567,120		)
	Fair value of net assets acquired		$	554,535


	(1) Included in the refined products and renewables segment.

	Goodwill represents the excess of the consideration paid for the acquired business over the fair value of the individual assets acquired, net of liabilities assumed. Goodwill primarily represents the value of synergies between the acquired entity and the Partnership, the opportunity to use the acquired business as a platform for growth, and the acquired assembled workforce. We estimate that all of the goodwill will be deductible for federal income tax purposes.

	The intangible asset for pipeline capacity rights relates to capacity allocations on a third-party refined products pipeline. Demand for use of this pipeline exceeds the pipeline’s capacity, and the limited capacity is allocated based on a shipper’s historical shipment volumes.

	The fair value of the noncontrolling interests was calculated by multiplying the closing price of TLP’s common units on the acquisition date by the number of TLP common units held by parties other than us.

	We recorded in the acquisition accounting a liability of $2.5 million related to certain crude oil contracts with terms that were unfavorable at current market conditions. We amortized this balance to cost of sales during the three months ended September 30, 2014.

	Employees of TransMontaigne participate in a plan whereby they are entitled to certain termination benefits in the event of a change in control of TransMontaigne and a subsequent change in job status. We recorded expense of $2.7 million during the three months ended September 30, 2014 related to these termination benefits, and we may record additional expense in future quarters as we continue our integration efforts.

	The operations of TransMontaigne have been included in our condensed consolidated statements of operations since TransMontaigne was acquired on July 1, 2014. Our condensed consolidated statements of operations for the three months and six months ended September 30, 2014 include revenues of $1.1 billion and an operating loss of $0.3 million that were generated by the operations of TransMontaigne. We have not provided supplemental pro forma financial information as though the business combination had occurred on April 1, 2013. The previous owner of TransMontaigne conducted trading operations, whereas we strive to generate reliable and predictable cash flows. Because of the difference in strategies between the pre-acquisition and post-acquisition periods, the pre-acquisition operations of TransMontaigne have limited importance as an indicator of post-acquisition results.

	On July 10, 2014, we submitted a nonbinding proposal to the conflicts committee of the board of directors of TLP’s general partner. Under this proposal, each outstanding unit of TLP would be exchanged for one of our common units. On August 15, 2014, we and TLP’s general partner terminated discussions regarding our previously submitted nonbinding proposal to acquire the outstanding common units of TLP.

	Water Solutions Facilities

	As described below, we are party to a development agreement that provides us a right to purchase water disposal facilities developed by the other party to the agreement. During the six months ended September 30, 2014, we purchased four water disposal facilities under this development agreement. We also purchased a 75% interest in one additional water disposal facility in July 2014 from a different seller. On a combined basis, we paid $82.9 million of cash for these five water disposal facilities.

	We are in the process of identifying and determining the fair value of the assets acquired and liabilities assumed in these business combinations. The estimates of fair value reflected at September 30, 2014 are subject to change, and such changes could be material. We expect to complete this process prior to finalizing our financial statements for the quarter ending June 30, 2015. We have preliminarily estimated the fair values of the assets acquired (and useful lives) and liabilities assumed as follows (in thousands):

Accounts receivable - trade		$	939
Inventories		253
Prepaid expenses and other current assets		62
Property, plant and equipment:
Water treatment facilities and equipment (5–40 years)		23,066
Buildings and leasehold improvements (3–7 years)		2,599
Land		1,010
Other (7 years)		33
Goodwill		57,777
Other noncurrent assets		50
Accounts payable - trade		(58		)
Accrued expenses and other payables		(1,092		)
Other noncurrent liabilities		(149		)
Noncontrolling interest		(1,620		)
Fair value of net assets acquired		$	82,870

Goodwill represents the excess of the consideration paid for the acquired business over the fair value of the individual assets acquired, net of liabilities assumed. Goodwill primarily represents the value of synergies between the acquired entity and the Partnership and the opportunity to use the acquired business as a platform for growth. We estimate that all of the goodwill will be deductible for federal income tax purposes.

The operations of these water disposal facilities have been included in our condensed consolidated statement of operations since their acquisition date. Our condensed consolidated statement of operations for the quarter ended September 30, 2014 includes revenues of $7.1 million and operating income of $1.5 million that were generated by the operations of these water disposal facilities.

Retail Propane Acquisitions

During the six months ended September 30, 2014, we completed three acquisitions of retail propane businesses. On a combined basis, we paid $6.4 million of cash to acquire these assets and operations. The agreements for these acquisitions contemplate post-closing payments for certain working capital items. We are in the process of identifying and determining the fair value of the assets acquired and liabilities assumed in certain of these business combinations, and as a result, the estimates of fair value reflected at September 30, 2014 are subject to change.

Water Supply Company

On June 9, 2014, we paid cash of $15.0 million in exchange for an interest in a water supply company operating in the DJ Basin. We account for this investment using the equity method of accounting.

Year Ended March 31, 2014

As described in Note 2, pursuant to GAAP, an entity is allowed a reasonable period of time to obtain the information necessary to identify and measure the fair value of the assets acquired and liabilities assumed in a business combination. The business combinations for which this measurement period was still open as of March 31, 2014 are summarized below.

Gavilon Energy

On December 2, 2013, we completed a business combination in which we acquired Gavilon Energy. We paid $832.4 million of cash, net of cash acquired, in exchange for these assets and operations. The acquisition agreement also contemplates a post-closing adjustment to the purchase price for certain working capital items.

The assets of Gavilon Energy include crude oil terminals in Oklahoma, Texas, and Louisiana, a 50% interest in Glass Mountain, which owns a crude oil pipeline that originates in western Oklahoma and terminates in Cushing, Oklahoma, and an 11% interest in an ethanol production facility in the Midwest. The operations of Gavilon Energy include the marketing of crude oil, refined products, ethanol, biodiesel, and natural gas liquids and owned and leased crude oil storage in Cushing, Oklahoma.

During the three months ended September 30, 2014, we completed the acquisition accounting for this business combination. The following table presents the final calculation of the fair values of the assets acquired (and useful lives) and liabilities assumed for this acquisition:

					Estimated at
					at
					March 31,
		Final			2014			Change
		(in thousands)
Accounts receivable - trade		$	326,484		$	349,529		$	(23,045	)
Accounts receivable - affiliates		2,564			2,564			—
Inventories		107,430			107,430			—
Prepaid expenses and other current assets		68,322			68,322			—
Property, plant and equipment:
Vehicles (3 years)		327			791			(464		)
Crude oil tanks and related equipment (3–40 years)		83,797			77,429			6,368
Information technology equipment (3–7 years)		4,049			4,046			3
Buildings and leasehold improvements (3–40 years)		7,817			7,716			101
Land		6,427			6,427			—
Tank bottoms		16,930			15,230			1,700
Other (7 years)		162			170			(8		)
Construction in progress		7,180			7,190			(10		)
Goodwill (1)		342,769			359,169			(16,400		)
Intangible assets:
Customer relationships (10–20 years)		107,950			101,600			6,350
Lease agreements (1–5 years)		8,700			8,700			—
Pipeline capacity rights (30 years)		7,800			—			7,800
Investments in unconsolidated entities		183,000			178,000			5,000
Other noncurrent assets		2,287			9,918			(7,631		)
Accounts payable - trade		(342,792		)	(342,792		)	—
Accounts payable - affiliates		(2,585		)	(2,585		)	—
Accrued expenses and other payables		(49,447		)	(70,999		)	21,552
Advance payments received from customers		(10,667		)	(10,667		)	—
Other noncurrent liabilities		(46,056		)	(44,740		)	(1,316		)
Fair value of net assets acquired		$	832,448		$	832,448		$	—


(1) Primarily included in the crude oil logistics segment.

We estimated the value of the customer relationship intangible asset using the income approach, which uses valuation techniques to convert future amounts (for example, cash flows or earnings) to a single present amount (discounted). The measurement is based on the value indicated by current market expectations about those future amounts.

The acquisition method of accounting requires that executory contracts that are at unfavorable terms relative to current market conditions at the acquisition date be recorded as assets or liabilities in the acquisition accounting. Since certain crude oil storage lease commitments were at unfavorable terms relative to current market conditions, we recorded a liability of $15.9 million related to these lease commitments in the acquisition accounting, and we amortized $5.0 million of this balance through cost of sales during the six months ended September 30, 2014. We will amortize the remainder of this liability over the term of the leases. The future amortization of this liability is shown below (in thousands):

Year Ending March 31,
2015 (six months)		$	3,670
2016		4,040
2017		360


Certain personnel who were employees of Gavilon Energy are entitled to a bonus, half of which was payable upon successful completion of the business combination and the remainder of which is payable in December 2014. We are recording this as compensation expense over the vesting period. We recorded expense of $5.2 million during the six months ended September 30, 2014 related to these bonuses, and we expect to record an additional expense of $1.6 million during the quarter ending December 31, 2014.

Oilfield Water Lines, LP

On August 2, 2013, we completed a business combination with entities affiliated with Oilfield Water Lines LP (collectively, “OWL”), whereby we acquired water disposal and transportation assets in Texas. We issued 2,463,287 common units, valued at $68.6 million, and paid $167.7 million of cash, net of cash acquired, in exchange for OWL. During the three months ended June 30, 2014, we completed the acquisition accounting for this business combination. The following table presents the final calculation of the fair values of the assets acquired (and useful lives) and liabilities assumed in the acquisition of OWL:

					Estimated
					at
					March 31,
		Final			2014			Change
		(in thousands)
Accounts receivable - trade		$	6,837		$	7,268		$	(431	)
Inventories		154			154			—
Prepaid expenses and other current assets		402			402			—
Property, plant and equipment:
Vehicles (5–10 years)		8,143			8,157			(14		)
Water treatment facilities and equipment (3–30 years)		23,173			23,173			—
Buildings and leasehold improvements (7–30 years)		2,198			2,198			—
Land		710			710			—
Other (3–5 years)		53			53			—
Intangible assets:
Customer relationships (8–10 years)		110,000			110,000			—
Non-compete agreements (3 years)		2,000			2,000			—
Goodwill		90,144			89,699			445
Accounts payable - trade		(6,469		)	(6,469		)	—
Accrued expenses and other payables		(992		)	(992		)	—
Other noncurrent liabilities		(64		)	(64		)	—
Fair value of net assets acquired		$	236,289		$	236,289		$	—

We estimated the value of the customer relationship intangible asset using the income approach, which uses valuation techniques to convert future amounts (for example, cash flows or earnings) to a single present amount (discounted). The measurement is based on the value indicated by current market expectations about those future amounts.

Other Water Solutions Acquisitions

During the year ended March 31, 2014, we completed two separate acquisitions of businesses to expand our water solutions operations in Texas. On a combined basis, we issued 222,381 common units, valued at $6.8 million, and paid $151.6 million of cash, net of cash acquired, in exchange for the assets and operations of these businesses. During the three months ended June 30, 2014, we completed the acquisition accounting for these business combinations. The following table presents the final calculation of the fair values of the assets acquired (and useful lives) and liabilities assumed for these acquisitions:

					Estimated
					at
					March 31,
		Final			2014			Change
		(in thousands)
Accounts receivable - trade		$	2,146		$	2,146		$	—
Inventories		192			192			—
Prepaid expenses and other current assets		62			61			1
Property, plant and equipment:
Vehicles (5–10 years)		76			90			(14		)
Water treatment facilities and equipment (3–30 years)		11,717			14,394			(2,677		)
Buildings and leasehold improvements (7–30 years)		3,278			1,906			1,372
Land		207			206			1
Other (3–5 years)		12			12			—
Intangible assets:
Customer relationships (8–10 years)		72,000			72,000			—
Trade names (indefinite life)		3,325			3,325			—
Non-compete agreements (3 years)		260			260			—
Water facility development agreement (5 years)		14,000			14,000			—
Water facility option agreement		2,500			2,500			—
Goodwill		49,067			47,750			1,317
Accounts payable - trade		(119		)	(119		)	—
Accrued expenses and other payables		(293		)	(293		)	—
Other noncurrent liabilities		(64		)	(64		)	—
Fair value of net assets acquired		$	158,366		$	158,366		$	—

As part of one of these business combinations, we entered into an option agreement with the seller of the business whereby we had the option to purchase a saltwater disposal facility that was under construction. We recorded an intangible asset of $2.5 million at the acquisition date related to this option agreement. On March 1, 2014, we purchased the saltwater disposal facility for additional cash consideration of $3.7 million.

In addition, as part of one of these business combinations, we entered into a development agreement that provides us a right to purchase water disposal facilities that may be developed by the seller through June 2018. On March 1, 2014, we purchased our first water disposal facility pursuant to the development agreement for $21.0 million.

We are in the process of identifying and determining the fair value of the assets acquired and liabilities assumed in these business combinations. The estimates of fair value reflected at September 30, 2014 are subject to change, and such changes could be material. We expect to complete this process prior to finalizing our financial statements for the quarter ending December 31, 2014. We have preliminarily estimated the fair values of the assets acquired (and useful lives) and liabilities assumed as follows:

		Estimated At
		September 30,			March 31,
		2014			2014			Change
		(in thousands)
Accounts receivable - trade		$	124		$	245		$	(121	)
Inventories		119			197			(78		)
Property, plant and equipment:
Water treatment facilities and equipment (3–30 years)		10,539			10,540			(1		)
Buildings and leasehold improvements (7–30 years)		1,130			1,130			—
Land		213			213			—
Other (3–5 years)		1			1			—
Goodwill		15,443			15,281			162
Accounts payable - trade		(232		)	(263		)	31
Accrued expenses and other payables		—			(7		)	7
Other noncurrent liabilities		(50		)	(50		)	—
Fair value of net assets acquired		$	27,287		$	27,287		$	—

Crude Oil Logistics Acquisitions

During the year ended March 31, 2014, we completed two separate acquisitions of businesses to expand our crude oil logistics operations in Texas and Oklahoma. On a combined basis, we issued 175,211 common units, valued at $5.3 million, and paid $67.8 million of cash, net of cash acquired, in exchange for the assets and operations of these businesses. During the three months ended June 30, 2014, we completed the acquisition accounting for these business combinations. The following table presents the final calculation of the fair values of the assets acquired (and useful lives) and liabilities assumed for these acquisitions:

					Estimated
					at
					March 31,
		Final			2014			Change
		(in thousands)
Accounts receivable - trade		$	1,221		$	1,235		$	(14	)
Inventories		1,021			1,021			—
Prepaid expenses and other current assets		58			54			4
Property, plant and equipment:
Vehicles (5–10 years)		2,980			2,977			3
Buildings and leasehold improvements (5–30 years)		58			280			(222		)
Crude oil tanks and related equipment (2–30 years)		3,822			3,462			360
Barges and towboats (20 years)		20,065			20,065			—
Other (3–5 years)		57			53			4
Intangible assets:
Customer relationships (3 years)		13,300			6,300			7,000
Non-compete agreements (3 years)		35			35			—
Trade names (indefinite life)		530			530			—
Goodwill		30,730			37,867			(7,137		)
Accounts payable - trade		(521		)	(665		)	144
Accrued expenses and other payables		(266		)	(124		)	(142		)
Fair value of net assets acquired		$	73,090		$	73,090		$	—

Retail Propane and Liquids Acquisitions

During the year ended March 31, 2014, we completed four acquisitions of retail propane businesses and the acquisition of four natural gas liquids terminals. On a combined basis, we paid $21.9 million of cash to acquire these assets and operations. The agreements for certain of these acquisitions contemplate post-closing payments for certain working capital items. We are in the process of identifying and determining the fair value of the assets acquired and liabilities assumed in certain of these business combinations, and as a result, the estimates of fair value reflected at September 30, 2014 are subject to change.

Property_Plant_and_Equipment

Property, Plant and Equipment	6 Months Ended
	Sep. 30, 2014
Property, Plant and Equipment	'
Property, Plant and Equipment	'
	Note 5 — Property, Plant and Equipment

	Our property, plant and equipment consists of the following:

		September 30,		March 31,
	Description and Estimated Useful Lives	2014		2014
		(in thousands)
	Natural gas liquids terminal assets (2–30 years)	$	127,258	$	75,141
	Refined products and renewables terminal assets and equipment (20 years)	419,411		—
	Retail propane equipment (2–30 years)	167,825		160,758
	Vehicles and railcars (3–25 years)	172,799		152,676
	Water treatment facilities and equipment (3–30 years)	209,644		180,985
	Crude oil tanks and related equipment (2–40 years)	145,287		106,125
	Barges and towboats (5–40 years)	56,094		52,217
	Information technology equipment (3–7 years)	30,519		20,768
	Buildings and leasehold improvements (3–40 years)	77,415		60,004
	Land	88,350		30,241
	Tank bottoms	17,679		13,403
	Other (3–30 years)	16,770		6,341
	Construction in progress	57,319		80,251
		1,586,370		938,910
	Less: Accumulated depreciation	-153,057		(109,564		)
	Net property, plant and equipment	$	1,433,313	$	829,346

	Depreciation expense was $28.4 million and $13.7 million during the three months ended September 30, 2014 and 2013, respectively, and $46.9 million and $27.2 million during the six months ended September 30, 2014 and 2013, respectively.

	Crude oil volumes required for the operation of storage tanks, known as tank bottoms, are recorded at historical cost. Tank bottoms are the volume of crude oil that must be maintained in a storage tank to enable operation of the storage tank. We recover tank bottom crude oil when we no longer use the storage tanks or the storage tanks are removed from service. At September 30, 2014, tank bottoms consisted of approximately 185,000 barrels.

Goodwill_and_Intangible_Assets

Goodwill and Intangible Assets	6 Months Ended
Goodwill and Intangible Assets	Sep. 30, 2014
Goodwill and Intangible Assets	'
Goodwill and Intangible Assets	'
	Note 6 — Goodwill and Intangible Assets

	The changes in the balance of goodwill during the six months ended September 30, 2014 were as follows (in thousands):

	Beginning of period		$	1,107,006
	Revisions to acquisition accounting (Note 4)		(21,614		)
	Acquisitions (Note 4)		86,895
	Disposal		(1,797		)
	End of period		$	1,170,490

	Goodwill by reportable segment is as follows:

			September 30,			March 31,
			2014			2014
			(in thousands)
	Crude oil logistics		$	579,845		$	606,383
	Water solutions		320,106			262,203
	Liquids		91,135			90,135
	Retail propane		114,285			114,285
	Refined products and renewables		65,119			34,000
	Total		$	1,170,490		$	1,107,006

	Our intangible assets consist of the following:

					September 30, 2014						March 31, 2014
			Amortizable		Gross Carrying			Accumulated			Gross Carrying			Accumulated
			Lives		Amount			Amortization			Amount			Amortization
					(in thousands)
	Amortizable —
	Customer relationships (1)		3–20 years		$	761,992		$	119,439		$	697,405		$	83,261
	Pipeline capacity rights		30 years		94,800			942			—			—
	Water facility development agreement		5 years		14,000			3,500			14,000			2,100
	Executory contracts and other agreements		5–10 years		23,920			16,367			23,920			13,190
	Non-compete agreements		2–7 years		14,412			8,302			14,161			6,388
	Trade names		2–10 years		14,539			5,197			15,489			3,081
	Debt issuance costs		5–10 years		53,289			12,737			44,089			8,708
	Total amortizable				976,952			166,484			809,064			116,728

	Non-amortizable —
	Trade names				27,620						22,620
	Total				$	1,004,572		$	166,484		$	831,684		$	116,728


	(1) The weighted-average remaining amortization period for customer relationship intangible assets is approximately 9 years.

	Amortization expense is as follows:

			Three Months Ended						Six Months Ended
			September 30,						September 30,
	Recorded In		2014			2013			2014			2013
			(in thousands)
	Depreciation and amortization		$	21,711		$	11,324		$	42,604		$	20,600
	Cost of sales		1,984			949			4,121			1,574
	Interest expense		2,117			1,065			4,029			2,462
	Total		$	25,812		$	13,338		$	50,754		$	24,636


	Expected amortization of our intangible assets is as follows (in thousands):

	Year Ending March 31,
	2015 (six months)		$	50,570
	2016		97,432
	2017		90,795
2018		86,818
2019		79,587
Thereafter		405,266
Total		$	810,468

LongTerm_Debt

Long-Term Debt	6 Months Ended
Long-Term Debt	Sep. 30, 2014
Long-Term Debt	'
Long-Term Debt	'
	Note 7 — Long-Term Debt

	Our long-term debt consists of the following:

			September 30,			March 31,
			2014			2014
			(in thousands)
	Revolving credit facility —
	Expansion capital borrowings		$	137,000		$	532,500
	Working capital borrowings		942,500			389,500
	5.125% Notes due 2019		400,000			—
	6.875% Notes due 2021		450,000			450,000
	6.650% Notes due 2022		250,000			250,000
	TLP credit facility		252,000			—
	Other long-term debt		10,913			14,914
			2,442,413			1,636,914
	Less - current maturities		5,062			7,080
	Long-term debt		$	2,437,351		$	1,629,834

	Credit Agreement

	On June 19, 2012, we entered into a credit agreement (as amended, the “Credit Agreement”) with a syndicate of banks. The Credit Agreement includes a revolving credit facility to fund working capital needs (the “Working Capital Facility”) and a revolving credit facility to fund acquisitions and expansion projects (the “Expansion Capital Facility,” and together with the Working Capital Facility, the “Revolving Credit Facility”).

	The Working Capital Facility had a total capacity of $1.335 billion for cash borrowings and letters of credit at September 30, 2014. At that date, we had outstanding borrowings of $942.5 million and outstanding letters of credit of $209.2 million on the Working Capital Facility. The Expansion Capital Facility had a total capacity of $858.0 million for cash borrowings at September 30, 2014. At that date, we had outstanding borrowings of $137.0 million on the Expansion Capital Facility. The capacity available under the Working Capital Facility may be limited by a “borrowing base,” as defined in the Credit Agreement, which is calculated based on the value of certain working capital items at any point in time.

	The commitments under the Credit Agreement expire on November 5, 2018. We have the right to prepay outstanding borrowings under the Credit Agreement without incurring any penalties, and prepayments of principal may be required if we enter into certain transactions to sell assets or obtain new borrowings.

	All borrowings under the Credit Agreement bear interest, at our option, at (i) an alternate base rate plus a margin of 0.50% to 1.50% per annum or (ii) an adjusted LIBOR rate plus a margin of 1.50% to 2.50% per annum. The applicable margin is determined based on our consolidated leverage ratio, as defined in the Credit Agreement. At September 30, 2014, all borrowings under the Credit Agreement were LIBOR borrowings with an interest rate at September 30, 2014 of 1.91%, calculated as the LIBOR rate of 0.16% plus a margin of 1.75%. At September 30, 2014, the interest rate in effect on letters of credit was 2.00%. Commitment fees are charged at a rate ranging from 0.38% to 0.50% on any unused credit. At September 30, 2014, our outstanding borrowings and interest rates under our Revolving Credit Facility were as follows (dollars in thousands):

			Amount			Rate
	Expansion Capital Facility —
	LIBOR borrowings		$	137,000		1.91	%
	Working Capital Facility —
	LIBOR borrowings		942,500			1.91	%


	The Credit Agreement is secured by substantially all of our assets. The Credit Agreement specifies that our leverage ratio, as defined in the Credit Agreement, cannot exceed 4.25 to 1 at any quarter end. At September 30, 2014, our leverage ratio was approximately 3.4 to 1. The Credit Agreement also specifies that our interest coverage ratio, as defined in the Credit Agreement, cannot be less than 2.75 to 1 at any quarter end. At September 30, 2014, our interest coverage ratio was approximately 4.8 to 1.

	The Credit Agreement contains various customary representations, warranties, and additional covenants, including, without limitation, limitations on fundamental changes and limitations on indebtedness and liens. Our obligations under the Credit Agreement may be accelerated following certain events of default (subject to applicable cure periods), including, without limitation, (i) the failure to pay principal or interest when due, (ii) a breach by the Partnership or its subsidiaries of any material representation or warranty or any covenant made in the Credit Agreement, or (iii) certain events of bankruptcy or insolvency.

	At September 30, 2014, we were in compliance with the covenants under the Credit Agreement.

	2019 Notes

	On July 9, 2014, we issued $400.0 million of 5.125% Senior Notes Due 2019 (the “2019 Notes”) in a private placement exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to Rule 144A and Regulation S under the Securities Act. We received net proceeds of $393.5 million, after the initial purchasers’ discount of $6.0 million and estimated offering costs of $0.5 million. We used the net proceeds to reduce the outstanding balance on our Revolving Credit Facility.

	The 2019 Notes mature on July 15, 2019. Interest is payable on January 15 and July 15 of each year. We have the right to redeem the 2019 Notes prior to the maturity date, although we would be required to pay a premium for early redemption.

	The Partnership and NGL Energy Finance Corp. are co-issuers of the 2019 Notes, and the obligations under the 2019 Notes are guaranteed by certain of our existing and future restricted subsidiaries that incur or guarantee indebtedness under certain of our other indebtedness, including the Revolving Credit Facility. The purchase agreement and the indenture governing the 2019 Notes contain various customary representations, warranties, and additional covenants, including, without limitation, limitations on fundamental changes and limitations on indebtedness and liens. Our obligations under the purchase agreement and the indenture may be accelerated following certain events of default (subject to applicable cure periods), including, without limitation, (i) the failure to pay principal or interest when due, (ii) experiencing an event of default on certain other debt agreements, or (iii) certain events of bankruptcy or insolvency.

	At September 30, 2014, we were in compliance with the covenants under the purchase agreement and indenture governing the 2019 Notes.

	We also entered into a registration rights agreement whereby we have committed to exchange the 2019 Notes for a new issue of notes registered under the Securities Act that has substantially identical terms to the 2019 Notes on or before July 9, 2015. If we are unable to fulfill this obligation, we would be required to pay liquidated damages to the holders of the 2019 Notes.

	2021 Notes

	On October 16, 2013, we issued $450.0 million of 6.875% Senior Notes Due 2021 (the “2021 Notes”) in a private placement exempt from registration under the Securities Act pursuant to Rule 144A and Regulation S under the Securities Act. We received net proceeds of $438.4 million, after the initial purchasers’ discount of $10.1 million and offering costs of $1.5 million. We used the net proceeds to reduce the outstanding balance on our Revolving Credit Facility.

	The 2021 Notes mature on October 15, 2021. Interest is payable on April 15 and October 15 of each year. We have the right to redeem the 2021 Notes prior to the maturity date, although we would be required to pay a premium for early redemption.

	The Partnership and NGL Energy Finance Corp. are co-issuers of the 2021 Notes, and the obligations under the 2021 Notes are guaranteed by certain of our existing and future restricted subsidiaries that incur or guarantee indebtedness under certain of our other indebtedness, including the Revolving Credit Facility. The purchase agreement and the indenture governing the 2021 Notes contain various customary representations, warranties, and additional covenants, including, without limitation, limitations on fundamental changes and limitations on indebtedness and liens. Our obligations under the purchase agreement and the indenture may be accelerated following certain events of default (subject to applicable cure periods), including, without limitation, (i) the failure to pay principal or interest when due, (ii) experiencing an event of default on certain other debt agreements, or (iii) certain events of bankruptcy or insolvency.

	At September 30, 2014, we were in compliance with the covenants under the purchase agreement and indenture governing the 2021 Notes.

We also entered into a registration rights agreement whereby we have committed to exchange the 2021 Notes for a new issue of notes registered under the Securities Act that has substantially identical terms to the 2021 Notes on or before October 16, 2014. Our inability to register the notes on time may result in liquidated damages of approximately $0.1 million per month.

2022 Notes

On June 19, 2012, we entered into a Note Purchase Agreement (as amended, the “Note Purchase Agreement”) whereby we issued $250.0 million of Senior Notes in a private placement (the “2022 Notes”). The 2022 Notes bear interest at a fixed rate of 6.65%. Interest is payable quarterly. The 2022 Notes are required to be repaid in semi-annual installments of $25.0 million beginning on December 19, 2017 and ending on the maturity date of June 19, 2022. We have the option to prepay outstanding principal, although we would incur a prepayment penalty. The 2022 Notes are secured by substantially all of our assets and rank equal in priority with borrowings under the Credit Agreement.

The Note Purchase Agreement contains various customary representations, warranties, and additional covenants that, among other things, limit our ability to (subject to certain exceptions): (i) incur additional debt, (ii) pay dividends and make other restricted payments, (iii) create or permit certain liens, (iv) create or permit restrictions on the ability of certain of our subsidiaries to pay dividends or make other distributions to us, (v) enter into transactions with affiliates, (vi) enter into sale and leaseback transactions and (vii) consolidate or merge or sell all or substantially all or any portion of our assets. In addition, the Note Purchase Agreement contains substantially the same leverage ratio and interest coverage ratio requirements as our Credit Agreement, which is described above.

The Note Purchase Agreement provides for customary events of default that include, among other things (subject in certain cases to customary grace and cure periods): (i) nonpayment of principal or interest, (ii) breach of certain covenants contained in the Note Purchase Agreement or the 2022 Notes, (iii) failure to pay certain other indebtedness or the acceleration of certain other indebtedness prior to maturity if the total amount of such indebtedness unpaid or accelerated exceeds $10.0 million, (iv) the rendering of a judgment for the payment of money in excess of $10.0 million, (v) the failure of the Note Purchase Agreement, the 2022 Notes, or the guarantees by the subsidiary guarantors to be in full force and effect in all material respects and (vi) certain events of bankruptcy or insolvency. Generally, if an event of default occurs (subject to certain exceptions), the trustee or the holders of at least 51% in aggregate principal amount of the then outstanding 2022 Notes of any series may declare all of the 2022 Notes of such series to be due and payable immediately.

At September 30, 2014, we were in compliance with the covenants under the Note Purchase Agreement.

TLP Credit Facility

On March 9, 2011, TLP entered into an amended and restated senior secured credit facility (“TLP Credit Facility”), which has been subsequently amended from time to time. The TLP Credit Facility provides for a maximum borrowing line of credit equal to the lesser of (i) $350 million and (ii) 4.75 times Consolidated EBITDA (as defined in the TLP Credit Facility: $352.9 million at September 30, 2014). TLP may elect to have loans under the TLP Credit Facility that bear interest either (i) at a rate of LIBOR plus a margin ranging from 2% to 3% depending on the total leverage ratio then in effect, or (ii) at the base rate plus a margin ranging from 1% to 2% depending on the total leverage ratio then in effect. TLP also pays a commitment fee on the unused amount of commitments, ranging from 0.375% to 0.50% per annum, depending on the total leverage ratio then in effect. TLP’s obligations under the TLP Credit Facility are secured by a first priority security interest in favor of the lenders in the majority of TLP assets.

The terms of the TLP Credit Facility include covenants that restrict TLP’s ability to make cash distributions, acquisitions and investments, including investments in joint ventures. TLP may make distributions of cash to the extent of its “available cash” as defined in the TLP partnership agreement. TLP may make acquisitions and investments that meet the definition of “permitted acquisitions”; “other investments” which may not exceed 5% of “consolidated net tangible assets”; and “permitted JV investments”. Permitted JV investments include up to $225 million of investments in BOSTCO, the “Specified BOSTCO Investment”. In addition to the Specified BOSTCO Investment, under the terms of the TLP Credit Facility, TLP may make an additional $75 million of other permitted JV investments (including additional investments in BOSTCO). The principal balance of loans and any accrued and unpaid interest are due and payable in full on the maturity date, March 9, 2016.

The TLP Credit Facility also contains customary representations and warranties (including those relating to organization and authorization, compliance with laws, absence of defaults, material agreements and litigation) and customary events of default (including those relating to monetary defaults, covenant defaults, cross defaults and bankruptcy events). The primary financial covenants contained in the TLP Credit Facility are (i) a total leverage ratio test (not to exceed 4.75 times), (ii) a senior secured leverage ratio test (not to exceed 3.75 times) in the event TLP issues senior unsecured notes, and (iii) a minimum interest coverage ratio test (not less than 3.0 times).

If TLP were to fail any financial performance covenant, or any other covenant contained in the TLP Credit Facility, TLP would seek a waiver from its lenders under such facility. If TLP was unable to obtain a waiver from its lenders and the default remained uncured after any applicable grace period, TLP would be in breach of the TLP Credit Facility, and the lenders would be entitled to declare all outstanding borrowings immediately due and payable. TLP was in compliance with all of the financial covenants under the TLP Credit Facility as of September 30, 2014.

At September 30, 2014, TLP had $252.0 million of outstanding borrowings under the TLP Credit Facility and no outstanding letters of credit.

The following table summarizes our basis in the assets and liabilities of TLP at September 30, 2014, inclusive of the impact of our acquisition accounting for the business combination with TransMontaigne (in thousands):

Cash and cash equivalents		$	726
Accounts receivable - trade, net		12,252
Accounts receivable - affiliates		1,105
Inventories		1,613
Prepaid expenses and other current assets		1,363
Property, plant and equipment, net		504,272
Goodwill		29,118
Intangible assets, net		38,571
Investments in unconsolidated entities		268,410
Other noncurrent assets		1,910
Accounts payable - trade		(4,009		)
Accounts payable - affiliates		(146		)
Accrued expenses and other payables		(11,625		)
Advanced payments received from customers		(141		)
Long-term debt		(252,000		)
Other noncurrent liabilities		(4,247		)
Net assets		$	587,172

Other Long-Term Debt

We have executed various noninterest bearing notes payable, primarily related to non-compete agreements entered into in connection with acquisitions of businesses. We also have certain notes payable related to equipment financing.

Debt Maturity Schedule

The scheduled maturities of our long-term debt are as follows at September 30, 2014:

		Revolving										TLP		Other
		Credit			2019			2021		2022		Credit		Long-Term
Year Ending March 31,		Facility			Notes			Notes		Notes		Facility		Debt		Total
		(in thousands)
2015 (six months)		$	—		$	—		$	—	$	—	$	—	$	2,345	$	2,345
2016		—			—			—		—		252,000		3,128		255,128
2017		—			—			—		—		—		2,362		2,362
2018		—			—			—		25,000		—		1,459		26,459
2019		1,079,500			—			—		50,000		—		1,438		1,130,938
Thereafter		—			400,000			450,000		175,000		—		181		1,025,181
Total		$	1,079,500		$	400,000		$	450,000	$	250,000	$	252,000	$	10,913	$	2,442,413

Income_Taxes

Income Taxes	6 Months Ended
Income Taxes	Sep. 30, 2014
Income Taxes	'
Income Taxes	'
	Note 8 — Income Taxes

	We qualify as a partnership for income tax purposes. As such, we generally do not pay United States federal income tax. Rather, each owner reports his or her share of our income or loss on his or her individual tax return. The aggregate difference in the basis of our net assets for financial and tax reporting purposes cannot be readily determined, as we do not have access to information regarding each partner’s basis in the Partnership.

	We have certain taxable corporate subsidiaries in the United States and in Canada, and our operations in Texas are subject to a state franchise tax that is calculated based on revenues net of cost of sales. We utilize the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply in the years in which these temporary differences are expected to be recovered or settled. Changes in tax rates are recognized in income in the period that includes the enactment date.

	A publicly-traded partnership is required to generate at least 90% of its gross income (as defined for federal income tax purposes) from certain qualifying sources. Income generated by our taxable corporate subsidiaries is excluded from this qualifying income calculation. Although we routinely generate income outside of our corporate subsidiaries that is non-qualifying, we believe that at least 90% of our gross income has been qualifying income for each of the calendar years since our initial public offering.

	We evaluate uncertain tax positions for recognition and measurement in the consolidated financial statements. To recognize a tax position, we determine whether it is more likely than not that the tax position will be sustained upon examination, including resolution of any related appeals or litigation, based on the technical merits of the position. A tax position that meets the more likely than not threshold is measured to determine the amount of benefit to be recognized in the consolidated financial statements. We had no material uncertain tax positions that required recognition in the consolidated financial statements at September 30, 2014.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Sep. 30, 2014
Commitments and Contingencies	'
Commitments and Contingencies	'
	Note 9 — Commitments and Contingencies

	Legal Contingencies

	We are party to various claims, legal actions, and complaints arising in the ordinary course of business. In the opinion of our management, the ultimate resolution of these claims, legal actions, and complaints, after consideration of amounts accrued, insurance coverage, and other arrangements, will not have a material adverse effect on our consolidated financial position, results of operations or cash flows. However, the outcome of such matters is inherently uncertain, and estimates of our liabilities may change materially as circumstances develop.

	Customer Dispute

	A customer of our crude oil logistics segment disputed the transportation rate schedule we used to bill the customer for services that we provided from November 2012 through February 2013, which was the same rate schedule that Pecos Gathering & Marketing, L.L.C. and certain of its affiliated companies (collectively, “Pecos”), used to bill the customer from April 2011 through October 2012 (prior to our November 1, 2012 acquisition of Pecos). The customer disputed a portion of the amount we charged for services we provided from November 2012 through February 2013. In May 2013, we filed a petition in the District Court of Harris County, Texas seeking to collect these unpaid fees from the customer. Later in May 2013, the customer filed an answer and counterclaim seeking to recover certain amounts that it paid to Pecos prior to our acquisition of Pecos.

	During August 2013, the customer notified us that it intended to withhold payment due for services performed by us during the period from June 2013 through August 2013, pending resolution of the dispute, although the customer did not dispute the validity of the amounts billed for services performed during this time frame. Upon receiving this notification, we ceased providing services under this contract, and on November 5, 2013, we filed a petition in the District Court of Harris County, Texas seeking to collect these unpaid fees from the customer.

	During September 2014, we reached an agreement with the former customer whereby the former customer agreed to pay us an agreed-upon amount to dismiss its claims against us, in return for which we agreed to dismiss our other claims against the former customer. We did not record a gain or loss upon settlement, as the amount we received approximated the amount we had recorded as receivable from the customer.

	Environmental Matters

	Our operations are subject to extensive federal, state, and local environmental laws and regulations. Although we believe our operations are in substantial compliance with applicable environmental laws and regulations, risks of additional costs and liabilities are inherent in our business, and there can be no assurance that significant costs will not be incurred. Moreover, it is possible that other developments, such as increasingly stringent environmental laws, regulations and enforcement policies thereunder, and claims for damages to property or persons resulting from the operations, could result in substantial costs. Accordingly, we have adopted policies, practices, and procedures in the areas of pollution control, product safety, occupational health, and the handling, storage, use, and disposal of hazardous materials designed to prevent material environmental or other damage, and to limit the financial liability that could result from such events. However, some risk of environmental or other damage is inherent in our business.

	Asset Retirement Obligations

	We have recorded a liability of $2.7 million at September 30, 2014 for asset retirement obligations. This liability is related to wastewater disposal facilities and crude oil facilities for which we have contractual and regulatory obligations to perform remediation and, in some instances, dismantlement and removal activities when the assets are retired.

	In addition to the obligations described above, we may be obligated to remove facilities or perform other remediation upon retirement of certain other assets. We do not believe the present value of these asset retirement obligations, under current laws and regulations, after taking into consideration the estimated lives of our facilities, is material to our consolidated financial position or results of operations.

	Operating Leases

	We have executed various noncancelable operating lease agreements for product storage, office space, vehicles, real estate, railcars, and equipment. Future minimum lease payments under these agreements at September 30, 2014 are as follows (in thousands):

	Year Ending March 31,
	2015 (six months)		$	71,007
	2016		106,384
	2017		88,666
	2018		74,265
	2019		49,907
	Thereafter		117,125
	Total		$	507,354

	Rental expense relating to operating leases was $29.3 million and $23.6 million during the three months ended September 30, 2014 and 2013, respectively, and $54.6 million and $45.5 million during the six months ended September 30, 2014 and 2013, respectively.

	Pipeline Capacity Agreements

	We have executed noncancelable agreements with crude and refined products pipeline operators, which guarantee us minimum monthly shipping capacity on the pipelines. In exchange, we are obligated to pay the minimum shipping fees in the event actual shipments are less than our allotted capacity. Future minimum throughput payments under these agreements at September 30, 2014 are as follows (in thousands):

	Year Ending March 31,
	2015 (six months)		$	41,822
	2016		95,050
	2017		82,916
	2018		62,565
	2019		51,278
	Thereafter		107,537
	Total		$	441,168

	Sales and Purchase Contracts

	We have entered into sales and purchase contracts for products to be delivered in future periods for which we expect the parties to physically settle the contracts with inventory. At September 30, 2014, we had the following such commitments outstanding:

			Volume		Value
			(in thousands)
	Natural gas liquids fixed-price purchase commitments (gallons)		88,574		$	102,000
	Natural gas liquids index-price purchase commitments (gallons)		528,459		601,719
	Natural gas liquids fixed-price sale commitments (gallons)		278,391		351,137
	Natural gas liquids index-price sale commitments (gallons)		370,639		512,900
	Crude oil index-price purchase commitments (barrels)		4,437		383,153
Crude oil fixed-price sale commitments (barrels)		32		2,867
Crude oil index-price sale commitments (barrels)		3,920		337,528


We account for the contracts shown in the table above as normal purchases and normal sales. Under this accounting policy election, we do not record the contracts at fair value at each balance sheet date; instead, we record the purchase or sale at the contracted value once the delivery occurs. Contracts in the table above may have offsetting derivative contracts (described in Note 11) or inventory positions (described in Note 2).

Certain other forward purchase and sale contracts do not qualify for the normal purchase and normal sale election. These contracts are recorded at fair value on our condensed consolidated balance sheet and are not included in the table above. These contracts are included in the derivative disclosures in Note 11, and represent $44.4 million of our prepaid expenses and other current assets and $36.3 million of our accrued expenses and other payables at September 30, 2014.

Equity

Equity	6 Months Ended
Equity	Sep. 30, 2014
Equity	'
Equity	'
	Note 10 — Equity

	Partnership Equity

	The Partnership’s equity consists of a 0.1% general partner interest and a 99.9% limited partner interest, which consists of common units. Prior to August 2014, the Partnership’s limited partner interest also included subordinated units. The subordination period ended in August 2014, at which time all remaining subordinated units were converted into common units on a one-for-one basis.

	Our general partner is not obligated to make any additional capital contributions or to guarantee or pay any of our debts and obligations.

	Equity Issuances

	On June 23, 2014, we completed a public offering of 8,000,000 common units. We received net proceeds of $338.0 million, after underwriting discounts and commissions of $12.3 million and offering costs of $0.5 million. During July 2014, the underwriters exercised their option to purchase an additional 767,100 units, from which we received net proceeds of $32.4 million.

	Distributions to Owners

	Our general partner has adopted a cash distribution policy that requires us to pay a quarterly distribution to unitholders as of the record date to the extent we have sufficient cash from operations after establishment of cash reserves and payment of fees and expenses, including payments to the general partner and its affiliates, referred to as “available cash.” The general partner will also receive, in addition to distributions on its 0.1% general partner interest, additional distributions based on the level of distributions to the limited partners. These distributions are referred to as “incentive distributions.” Our general partner currently holds the incentive distribution rights, but may transfer these rights separately from its general partner interest, subject to restrictions in our partnership agreement.

	The following table illustrates the percentage allocations of available cash from operating surplus between the unitholders and our general partner based on the specified target distribution levels. The amounts set forth under “Marginal Percentage Interest In Distributions” are the percentage interests of our general partner and the unitholders in any available cash from operating surplus we distribute up to and including the corresponding amount in the column “Total Quarterly Distribution Per Unit,” until available cash from operating surplus we distribute reaches the next target distribution level, if any. The percentage interests shown for our unitholders and our general partner for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. The percentage interests set forth below for our general partner include its 0.1% general partner interest, assume our general partner has contributed any additional capital necessary to maintain its 0.1% general partner interest and has not transferred its incentive distribution rights.

										Marginal Percentage Interest In
			Total Quarterly							Distributions
			Distribution Per Unit							Unitholders		General Partner
	Minimum quarterly distribution							$	0.3375	99.9	%	0.1	%
	First target distribution		above		$	0.3375	up to	$	0.388125	99.9	%	0.1	%
	Second target distribution		above		$	0.388125	up to	$	0.421875	86.9	%	13.1	%
	Third target distribution		above		$	0.421875	up to	$	0.50625	76.9	%	23.1	%
	Thereafter		above		$	0.50625				51.9	%	48.1	%

	During the three months ended September 30, 2014, we distributed a total of $61.5 million ($0.5888 per common, subordinated, and general partner notional unit) to our unitholders of record on August 4, 2014, which included an incentive distribution of $9.5 million to the general partner. In October 2014, we declared a distribution of $0.6088 per common unit, to be paid on November 14, 2014 to unitholders of record on November 4, 2014. This distribution is expected to be $65.0 million, including amounts to be paid on common and general partner notional units and the amount to be paid on incentive distribution rights.

	Distributions to Noncontrolling Interest Partners

	TLP’s general partner has adopted a cash distribution policy that requires it to pay a quarterly distribution to unitholders as of the record date to the extent TLP has sufficient cash from operations after establishment of cash reserves and payment of fees and expenses, including payments to TLP’s general partner and its affiliates, referred to as “available cash.” TLP’s general partner will also receive, in addition to distributions on its 2.0% general partner interest, additional distributions based on the level of distributions to the limited partners. These distributions are referred to as “incentive distributions.” TLP’s general partner currently holds the incentive distribution rights, but may transfer these rights separately from its general partner interest, subject to restrictions in TLP’s partnership agreement.

	The following table illustrates the percentage allocations of available cash from operating surplus between TLP’s unitholders and TLP’s general partner based on the specified target distribution levels. The amounts set forth under “Marginal Percentage Interest In Distributions” are the percentage interests of TLP’s general partner and TLP’s unitholders in any available cash from operating surplus TLP distributes up to and including the corresponding amount in the column “Total Quarterly Distribution Per Unit,” until available cash from operating surplus TLP distributes reaches the next target distribution level, if any. The percentage interests shown for TLP’s unitholders and TLP’s general partner for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. The percentage interests set forth below for TLP’s general partner include its 2.0% general partner interest, assume TLP’s general partner has contributed any additional capital necessary to maintain its 2.0% general partner interest and has not transferred its incentive distribution rights.

										Marginal Percentage Interest In
			Total Quarterly							Distributions
			Distribution Per Unit							Unitholders		General Partner
	Minimum quarterly distribution							$	0.4	98	%	2	%
	First target distribution		above		$	0.4	up to	$	0.44	98	%	2	%
	Second target distribution		above		$	0.44	up to	$	0.5	85	%	15	%
	Third target distribution		above		$	0.5	up to	$	0.6	75	%	25	%
	Thereafter		above		$	0.6				50	%	50	%

	During the three months ended September 30, 2014, TLP declared and paid a distribution of $0.665 per unit. The noncontrolling interest owners received a total of $8.7 million from this distribution. Pursuant to the terms of the agreement related to our acquisition of TransMontaigne, we remitted the amount we received on this distribution on our general partner interest, incentive distribution rights, and limited partner interest to the former owners of TransMontaigne.

	In October 2014, TLP declared a distribution of $0.665 per unit, which was paid on November 7, 2014. The noncontrolling interest owners received a total of $8.7 million from this distribution.

	Equity-Based Incentive Compensation

	Our general partner has adopted a long-term incentive plan (“LTIP”), which allows for the issuance of equity-based compensation to employees and directors. Our general partner has granted certain restricted units to employees and directors, which will vest in tranches, subject to the continued service of the recipients. The awards may also vest in the event of a change in control, at the discretion of the board of directors. No distributions will accrue to or be paid on the restricted units during the vesting period.

	The following table summarizes the restricted unit activity during the six months ended September 30, 2014:

	Unvested restricted units at March 31, 2014		1,311,100
	Units granted		333,903
	Units vested and issued		(438,009	)
	Units withheld for employee taxes		(231,194	)
	Units forfeited		(117,000	)
	Unvested restricted units at September 30, 2014		858,800

	The scheduled vesting of our unvested restricted units is summarized below:

Vesting Date		Number of Awards
July 1, 2015		334,800
July 1, 2016		314,000
July 1, 2017		178,500
July 1, 2018		31,500
Unvested restricted units at September 30, 2014		858,800

We record the expense for the first tranche of each award on a straight-line basis over the period beginning with the grant date of the awards and ending with the vesting date of the tranche. We record the expense for succeeding tranches over the period beginning with the vesting date of the previous tranche and ending with the vesting date of the tranche.

At each balance sheet date, we adjust the cumulative expense recorded using the estimated fair value of the awards at the balance sheet date. We calculate the fair value of the awards using the closing price of our common units on the New York Stock Exchange on the balance sheet date, adjusted to reflect the fact that the holders of the unvested units are not entitled to distributions during the vesting period. We estimate the impact of the lack of distribution rights during the vesting period using the value of the most recent distribution and assumptions that a market participant might make about future distribution growth.

We recorded expense related to restricted unit awards of $13.8 million and $3.2 million during the three months ended September 30, 2014 and 2013, respectively, and $21.7 million and $10.3 million during the six months ended September 30, 2014 and 2013, respectively. We estimate that the future expense we will record on the unvested awards at September 30, 2014 will be as follows (in thousands), after taking into consideration an estimate of forfeitures of approximately 80,000 units. For purposes of this calculation, we used the closing price of our common units on September 30, 2014, which was $39.37.

Year Ending March 31,
2015 (six months)		$	6,343
2016		11,516
2017		7,262
2018		2,237
2019		249
Total		$	27,607

Following is a rollforward of the liability related to equity-based compensation, which is reported within accrued expenses and other payables on our condensed consolidated balance sheets (in thousands):

Balance at March 31, 2014		$	10,012
Expense recorded		21,659
Value of units vested and issued		(18,763		)
Taxes paid on behalf of participants		(9,901		)
Balance at September 30, 2014		$	3,007

The weighted-average fair value of the awards at September 30, 2014 was $35.16 per common unit, which was calculated as the closing price of the common units on September 30, 2014, adjusted to reflect the fact that the restricted units are not entitled to distributions during the vesting period. The impact of the lack of distribution rights during the vesting period was estimated using the value of the most recent distribution and assumptions that a market participant might make about future distribution growth.

The number of common units that may be delivered pursuant to awards under the LTIP is limited to 10% of the issued and outstanding common units. The maximum number of units deliverable under the plan automatically increases to 10% of the issued and outstanding common units immediately after each issuance of common units, unless the plan administrator determines to increase the maximum number of units deliverable by a lesser amount. Units withheld to satisfy tax withholding obligations will not be considered to be delivered under the LTIP. In addition, if an award is forfeited, canceled, exercised, paid or otherwise terminates or expires without the delivery of units, the units subject to such award are again available for new awards under the LTIP. At September 30, 2014, 7.1 million units remain available for issuance under the LTIP.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	6 Months Ended
Fair Value of Financial Instruments	Sep. 30, 2014
Fair Value of Financial Instruments	'
Fair Value of Financial Instruments	'
	Note 11 — Fair Value of Financial Instruments

	Our cash and cash equivalents, accounts receivable, accounts payable, accrued expenses, and other current assets and liabilities (excluding derivative instruments) are carried at amounts which reasonably approximate their fair values due to their short-term nature.

	Commodity Derivatives

	The following table summarizes the estimated fair values of our commodity derivative assets and liabilities reported on the condensed consolidated balance sheet at September 30, 2014:

			Derivative			Derivative
			Assets			Liabilities
			(in thousands)
	Level 1 measurements		$	48,632		$	(5,378	)
	Level 2 measurements		51,389			(38,280		)
			100,021			(43,658		)

	Netting of counterparty contracts (1)		(4,635		)	4,635
	Cash collateral held		(13,704		)	—
	Commodity derivatives on condensed consolidated balance sheet		$	81,682		$	(39,023	)


	(1) Relates to derivative assets and liabilities that are expected to be net settled on an exchange or through a master netting arrangement with the counterparty.

	The following table summarizes the estimated fair values of our commodity derivative assets and liabilities reported on the condensed consolidated balance sheet at March 31, 2014:

			Derivative			Derivative
			Assets			Liabilities
			(in thousands)
	Level 1 measurements		$	4,990		$	(3,258	)
	Level 2 measurements		49,605			(43,303		)
			54,595			(46,561		)

	Netting of counterparty contracts (1)		(4,347		)	4,347
	Net cash collateral provided		456			—
	Commodity derivatives on condensed consolidated balance sheet		$	50,704		$	(42,214	)


	(1) Relates to derivative assets and liabilities that are expected to be net settled on an exchange or through a master netting arrangement with the counterparty.

	Our commodity derivative assets and liabilities are reported in the following accounts on the condensed consolidated balance sheets:

			September 30,			March 31,
			2014			2014
			(in thousands)
	Prepaid expenses and other current assets		$	81,682		$	50,704
	Accrued expenses and other payables		(39,023		)	(42,214		)
	Net commodity derivative asset		$	42,659		$	8,490

	The following table summarizes our open commodity derivative contract positions at September 30, 2014 and March 31, 2014. We do not account for these derivatives as hedges.

					Total		Fair Value
					Notional		of
					Units		Net Assets
	Contracts		Settlement Period		(Barrels)		(Liabilities)
					(in thousands)
	At September 30, 2014 -
	Cross-commodity (1)		October 2014 – March 2015		(12	)	$	(1,283	)
	Crude oil fixed-price (2)		October 2014 – December 2015		(1,638	)	9,380
	Crude oil index (3)		October 2014 – July 2015		2,195		4,397
	Propane fixed-price (4)		October 2014 – March 2015		1,238		53
	Refined products fixed-price (5)		October 2014 – July 2015		(4,475	)	38,712
	Renewable products fixed-price (6)		October 2014 – December 2015		(14	)	5,104
							56,363
	Net cash collateral held						(13,704		)
Net commodity derivatives on condensed consolidated balance sheet						$	42,659

At March 31, 2014 -
Cross-commodity (1)		April 2014 – March 2015		140		$	(1,876	)
Crude oil fixed-price (2)		April 2014 – March 2015		(1,600	)	(2,796		)
Crude oil index (3)		April 2014 – December 2015		3,598		6,099
Propane fixed-price (4)		April 2014 – March 2015		60		1,753
Refined products fixed-price (5)		April 2014 – July 2014		732		560
Renewable products fixed-price (6)		April 2014 – July 2014		106		4,084
Other		April 2014		—		210
						8,034
Net cash collateral provided						456
Net commodity derivatives on condensed consolidated balance sheet						$	8,490


(1) Cross-commodity — Our operating segments may purchase or sell a physical commodity where the underlying contract pricing mechanisms are tied to different commodity price indices. The contracts listed in this table as “Cross-commodity” represent derivatives we have entered into as an economic hedge against the risk of one commodity price moving relative to another commodity price.

(2) Crude oil fixed-price — Our crude oil logistics segment routinely purchases crude oil inventory to enable us to fulfill future orders expected to be placed by our customers. The contracts listed in this table as “Crude oil fixed-price” represent derivatives we have entered into as an economic hedge against the risk that crude oil prices will decline while we are holding the inventory.

(3) Crude oil index — Our crude oil logistics segment may purchase or sell crude oil where the underlying contract pricing mechanisms are tied to different crude oil indices. These indices may vary in the type or location of crude oil, or in the timing of delivery within a given month. The contracts listed in this table as “Crude oil index” represent derivatives we have entered into as an economic hedge against the risk of one crude oil index moving relative to another crude oil index.

(4) Propane fixed-price — Our liquids segment routinely purchases propane inventory during the warmer months and stores the propane inventory for sale during the colder months. The contracts listed in this table as “Propane fixed-price” represent derivatives we have entered into as an economic hedge against the risk that propane prices will decline while we are holding the inventory.

(5) Refined products fixed-price — Our refined products and renewables segment routinely purchases refined products inventory to enable us to fulfill future orders expected to be placed by our customers. The contracts listed in this table as “Refined products fixed-price” represent derivatives we have entered into as an economic hedge against the risk that refined product prices will decline while we are holding the inventory.

(6) Renewable products fixed-price — Our refined products and renewables segment routinely purchases biodiesel and ethanol inventory to enable us to fulfill future orders expected to be placed by our customers. The contracts listed in this table as “Renewable products fixed-price” represent derivatives we have entered into as an economic hedge against the risk that biodiesel or ethanol prices will decline while we are holding the inventory.

We recorded the following net gains (losses) from our commodity derivatives to cost of sales:

Three Months Ended						Six Months Ended
September 30,						September 30,
2014			2013			2014			2013
(in thousands)
$	55,981		$	(10,672	)	$	38,496		$	(17,881	)


Credit Risk

We maintain credit policies with regard to our counterparties on the derivative financial instruments that we believe minimize our overall credit risk, including an evaluation of potential counterparties’ financial condition (including credit ratings), collateral requirements under certain circumstances and the use of standardized agreements, which allow for netting of positive and negative exposure associated with a single counterparty.

We may enter into industry standard master netting agreements and may enter into cash collateral agreements requiring the counterparty to deposit funds into a brokerage margin account. The netting agreements reduce our credit risk by providing for net settlement of any offsetting positive and negative exposures with counterparties. The cash collateral agreements reduce the level of our net counterparty credit risk because the amount of collateral represents additional funds that we may access to net settle positions due us, and the amount of collateral adjusts each day in response to changes in the market value of counterparty derivatives.

Our counterparties consist primarily of financial institutions and energy companies. This concentration of counterparties may impact our overall exposure to credit risk, either positively or negatively, in that the counterparties may be similarly affected by changes in economic, regulatory or other conditions.

As is customary in the crude oil industry, we generally receive payment from customers for sales of crude oil on a monthly basis. As a result, receivables from individual customers in our crude oil logistics segment are generally higher than the receivables from customers in our other segments.

Failure of a counterparty to perform on a contract could result in our inability to realize amounts that have been recorded on our condensed consolidated balance sheets and recognized in our net income.

Interest Rate Risk

Our Revolving Credit Facility is variable-rate debt with interest rates that are generally indexed to bank prime or LIBOR interest rates. At September 30, 2014, we had $1.1 billion of outstanding borrowings under our Revolving Credit Facility at a rate of 1.91%. A change in interest rates of 0.125% would result in an increase or decrease of our annual interest expense of $1.3 million, based on borrowings outstanding at September 30, 2014.

The TLP Credit Facility is variable-rate debt with interest rates that are generally indexed to bank prime or LIBOR interest rates. At September 30, 2014, TLP had $252.0 million of outstanding borrowings under the TLP Credit Facility at a rate of 2.66%. A change in interest rates of 0.125% would result in an increase or decrease in TLP’s annual interest expense of $0.3 million, based on borrowings outstanding at September 30, 2014.

Fair Value of Notes

The following table provides estimates of the fair values of our fixed-rate notes at September 30, 2014 (in thousands):

5.125% Notes due 2019		$	390,000
6.875% Notes due 2021		475,000
6.650% Notes due 2022		275,000

For the 2019 Notes and the 2021 Notes, the fair value estimates were developed by reference to broker quotes. These estimates would be classified as Level 2 in the fair value hierarchy. For the 2022 Notes, the estimate was developed using observed yields on publicly-traded notes issued by other entities, adjusted for differences in the key terms of those notes and the key terms of our notes (examples include differences in the tenor of the debt, credit standing of the issuer, whether the notes are publicly-traded, and whether the notes are secured or unsecured). These estimates of fair value would be classified as Level 3 in the fair value hierarchy.

Segments

Segments	6 Months Ended
Segments	Sep. 30, 2014
Segments	'
Segments	'
	Note 12 — Segments

	Our reportable segments are based on the way in which our management structure is organized. Certain financial data related to our segments is shown below. Transactions between segments are recorded based on prices negotiated between the segments.

	Our crude oil logistics segment sells crude oil and provides crude oil transportation services to wholesalers, refiners, and producers. Our water solutions segment provides services for the treatment and disposal of wastewater generated from crude oil and natural gas production, and generates revenue from the sale of recycled water and recovered hydrocarbons. Our liquids segment supplies propane, butane, and other products, and provides natural gas liquids transportation, terminaling, and storage services to retailers, wholesalers, and refiners. Our retail propane segment sells propane and distillates to end users consisting of residential, agricultural, commercial, and industrial customers, and to certain re-sellers. Our retail propane segment consists of two divisions, which are organized based on the location of the operations. Our refined products and renewables segment provides integrated terminaling, storage, transportation, marketing, and related services for companies engaged in the trading, distribution and marketing of refined petroleum products, ethanol, and biodiesel. This segment began with our December 2013 acquisition of Gavilon Energy and expanded with our July 2014 acquisition of TransMontaigne.

	Items labeled “corporate and other” in the table below include the operations of a compressor leasing business that we sold in February 2014 and certain natural gas marketing operations that we acquired in our December 2013 acquisition of Gavilon Energy and wound down during fiscal year 2014. The “corporate and other” category also includes certain corporate expenses that are incurred and are not allocated to the reportable segments. This data is included to reconcile the data for the reportable segments to data in our condensed consolidated financial statements.

			Three Months Ended						Six Months Ended
			September 30,						September 30,
			2014			2013			2014			2013
			(in thousands)
	Revenues:
	Crude oil logistics -
	Crude oil sales		$	2,108,117		$	1,013,061		$	4,035,061		$	1,941,595
	Crude oil transportation and other		13,082			9,794			25,196			19,729
	Water solutions -
	Water treatment and disposal		47,572			28,823			89,288			47,511
	Water transportation		5,147			5,367			10,745			7,192
	Liquids -
	Propane sales		240,433			191,437			462,879			315,274
	Other product sales		306,625			308,606			594,984			558,459
	Other revenues		6,814			9,250			12,530			18,114
	Retail propane -
	Propane sales		48,552			40,651			100,578			87,342
	Distillate sales		11,530			10,562			30,225			28,431
	Other revenues		8,276			8,198			15,457			15,898
	Refined products and renewables -
	Refined products sales		2,489,795			—			3,476,018			—
	Renewables sales		117,425			—			248,699			—
	Corporate and other		1,333			1,485			2,794			2,959
	Elimination of intersegment sales		(24,175		)	(33,297		)	(75,314		)	(62,610		)
	Total revenues		$	5,380,526		$	1,593,937		$	9,029,140		$	2,979,894

	Depreciation and Amortization:
	Crude oil logistics		$	9,240		$	3,330		$	18,971		$	8,014
	Water solutions		17,573			11,438			34,665			18,794
	Liquids		3,384			2,672			6,585			5,376
	Retail propane		7,684			6,871			15,255			14,111
	Refined products and renewables		11,917			—			12,761			—
	Corporate and other		301			750			1,237			1,490
	Total depreciation and amortization		$	50,099		$	25,061		$	89,474		$	47,785

	Operating Income (Loss):
	Crude oil logistics		$	38		$	5,884		$	1,501		$	12,493
	Water solutions		14,792			2,913			13,885			5,956
	Liquids		10,929			14,605			10,016			12,490
	Retail propane		(3,062		)	(4,520		)	(4,648		)	(6,024		)
	Refined products and renewables		8,822			—			7,567			—
	Corporate and other		(23,749		)	(8,937		)	(41,106		)	(22,312		)
	Total operating income (loss)		$	7,770		$	9,945		$	(12,785	)	$	2,603

	The following table summarizes additions to property, plant and equipment for each segment. This information has been prepared on the accrual basis, and includes property, plant and equipment acquired in acquisitions.

			Three Months Ended						Six Months Ended
			September 30,						September 30,
			2014			2013			2014			2013
			(in thousands)
	Additions to property, plant and equipment:
	Crude oil logistics		$	39,464		$	31,336		$	81,413		$	35,462
	Water solutions		40,610			62,473			48,072			70,182
	Liquids		1,911			13,209			3,070			28,316
	Retail propane		9,567			4,546			12,411			11,492
Refined products and renewables		512,281			—			512,281			—
Corporate and other		1,809			217			3,262			846
Total		$	605,642		$	111,781		$	660,509		$	146,298

The following tables summarize long-lived assets (consisting of net property, plant and equipment, net intangible assets, and goodwill) and total assets by segment:

		September 30,			March 31,
		2014			2014
		(in thousands)
Total assets:
Crude oil logistics		$	2,079,380		$	1,723,812
Water solutions		964,336			875,714
Liquids		756,133			577,795
Retail propane		506,958			541,832
Refined products and renewables		2,183,674			303,230
Corporate and other		61,198			144,840
Total		$	6,551,679		$	4,167,223

Long-lived assets, net:
Crude oil logistics		$	996,615		$	980,978
Water solutions		910,467			848,479
Liquids		271,567			274,846
Retail propane		436,621			438,324
Refined products and renewables		772,916			60,720
Corporate and other		53,705			47,961
Total		$	3,441,891		$	2,651,308

Transactions_with_Affiliates

Transactions with Affiliates	6 Months Ended
Transactions with Affiliates	Sep. 30, 2014
Transactions with Affiliates	'
Transactions with Affiliates	'
	Note 13 — Transactions with Affiliates

	SemGroup Corporation (“SemGroup”) holds ownership interests in us and in our general partner. We sell product to and purchase product from SemGroup, and these transactions are included within revenues and cost of sales in our condensed consolidated statements of operations. We also lease crude oil storage from SemGroup.

	We purchase ethanol from one of our equity method investees. These transactions are reported within cost of sales in our condensed consolidated statements of operations.

	Certain members of our management own interests in entities from which we have purchased products and services and to which we have sold products and services to. The majority of these purchases represented crude oil purchases and are reported within cost of sales in our condensed consolidated statements of operations, although $5.8 million of these transactions during the six months ended September 30, 2014 represented capital expenditures and were recorded as increases to property, plant and equipment. The majority of these sales represented crude oil sales and are reported within revenues in our condensed consolidated statements of operations.

	The above transactions are summarized in the following table:

		Three Months Ended				Six Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
		(in thousands)
	Sales to SemGroup	$	43,427	$	3,780	$	117,233	$	3,780
	Purchases from SemGroup	45,730		28,377		118,997		47,916
	Purchases from equity method investees	34,689		—		70,965		—
	Sales to equity method investees	9,131		—		9,131		—
	Sales to entities affiliated with management	1,706		58,769		1,854		109,872
	Purchases from entities affiliated with management	3,845		48,522		6,984		56,346


	Receivables from affiliates consist of the following:

		September 30,		March 31,
		2014		2014
		(in thousands)
	Receivables from SemGroup	$	39,331	$	7,303
	Receivables from entities affiliated with management	1,705		142
	Receivables from equity method investees	670		—
	Total	$	41,706	$	7,445

	Payables to affiliates consist of the following:

		September 30,		March 31,
		2014		2014
		(in thousands)
	Payables to SemGroup	$	44,015	$	27,738
	Payables to equity method investees	39,549		48,454
	Payables to entities affiliated with management	1,743		654
	Total	$	85,307	$	76,846

Condensed_Consolidating_Guaran

Condensed Consolidating Guarantor and Non-Guarantor Financial Information	6 Months Ended
	Sep. 30, 2014
Condensed Consolidating Guarantor and Non-Guarantor Financial Information	'
Condensed Consolidating Guarantor and Non-Guarantor Financial Information	'
	Note 14 — Condensed Consolidating Guarantor and Non-Guarantor Financial Information

	Certain of our wholly-owned subsidiaries have, jointly and severally, fully and unconditionally guaranteed the 2019 Notes and the 2021 Notes (described in Note 7). Pursuant to Rule 3-10 of Regulation S-X, we have presented in columnar format the condensed consolidating financial information for NGL Energy Partners LP, NGL Energy Finance Corp. (which, along with NGL Energy Partners LP, is a co-issuer of the 2019 Notes and 2021 Notes), the guarantor subsidiaries on a combined basis, and the non-guarantor subsidiaries on a combined basis in the tables below.

	During the periods presented in the tables below, the status of certain subsidiaries changed, in that they either became guarantors of or ceased to be guarantors of the 2019 Notes and 2021 Notes. Such changes have been given retrospective application in the tables below.

	There are no significant restrictions upon the ability of the parent or any of the guarantor subsidiaries to obtain funds from their respective subsidiaries by dividend or loan. None of the assets of the guarantor subsidiaries represent restricted net assets pursuant to Rule 4-08(e)(3) of Regulation S-X under the Securities Act.

	For purposes of the tables below, (i) the condensed consolidating financial information is presented on a legal entity basis, not a business segment basis, (ii) investments in consolidated subsidiaries are accounted for as equity method investments, and (iii) contributions, distributions, and advances to or from consolidated entities are reported on a net basis within net changes in advances with consolidated entities in the condensed consolidating cash flow tables below.

	NGL ENERGY PARTNERS LP
	Condensed Consolidating Balance Sheet
	(U.S. Dollars in Thousands)

			September 30, 2014
			NGL Energy			NGL Energy			Guarantor			Non-Guarantor			Consolidating
			Partners LP
			(Parent) (1)			Finance Corp.			Subsidiaries			Subsidiaries			Adjustments			Consolidated
	ASSETS
	CURRENT ASSETS:
	Cash and cash equivalents		$	2,841		$	—		$	7,823		$	1,159		$	—		$	11,823
	Accounts receivable - trade, net of allowance for doubtful accounts		—			—			1,419,442			13,675			—			1,433,117
	Accounts receivable - affiliates		—			—			41,035			671			—			41,706
	Inventories		—			—			937,814			3,775			—			941,589
	Prepaid expenses and other current assets		—			—			155,332			1,486			—			156,818
	Total current assets		2,841			—			2,561,446			20,766			—			2,585,053

	PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation		—			—			863,694			569,619			—			1,433,313
	GOODWILL		—			—			1,139,374			31,116			—			1,170,490
	INTANGIBLE ASSETS, net of accumulated amortization		1,307			17,619			778,960			40,202			—			838,088
	INVESTMENTS IN UNCONSOLIDATED ENTITIES		—			—			214,234			268,410			—			482,644
	NET INTERCOMPANY RECEIVABLES (PAYABLES)		248,893			849,526			(1,026,605		)	(71,814		)	—			—
	INVESTMENTS IN CONSOLIDATED SUBSIDIARIES		1,743,573			—			10,470			—			(1,754,043		)	—
	OTHER NONCURRENT ASSETS		—			—			40,035			2,056			—			42,091
	Total assets		$	1,996,614		$	867,145		$	4,581,608		$	860,355		$	(1,754,043	)	$	6,551,679

	LIABILITIES AND EQUITY
	CURRENT LIABILITIES:
	Accounts payable - trade		$	—		$	—		$	1,333,780		$	11,244		$	—		$	1,345,024
	Accounts payable - affiliates		—			—			85,237			70			—			85,307
	Accrued expenses and other payables		554			19,021			186,226			12,681			—			218,482
	Advance payments received from customers		—			—			105,597			508			—			106,105
	Current maturities of long-term debt		—			—			5,004			58			—			5,062
	Total current liabilities		554			19,021			1,715,844			24,561			—			1,759,980

	LONG-TERM DEBT, net of current maturities		250,000			850,000			1,085,155			252,196			—			2,437,351
	OTHER NONCURRENT LIABILITIES		—			—			35,160			4,358			—			39,518

	EQUITY
	Partners’ equity (deficit)		1,746,060			(1,876		)	1,745,450			579,312			(2,322,813		)	1,746,133
	Accumulated other comprehensive loss		—			—			(1		)	(72		)	—			(73		)
	Noncontrolling interests		—			—			—			—			568,770			568,770
	Total equity (deficit)		1,746,060			(1,876		)	1,745,449			579,240			(1,754,043		)	2,314,830
	Total liabilities and equity		$	1,996,614		$	867,145		$	4,581,608		$	860,355		$	(1,754,043	)	$	6,551,679


	(1) The parent is a co-issuer of the 2019 Notes and 2021 Notes that are included in the NGL Energy Finance Corp. column.

	NGL ENERGY PARTNERS LP
	Condensed Consolidating Balance Sheet
	(U.S. Dollars in Thousands)

			March 31, 2014
		NGL Energy
		Partners LP			NGL Energy			Guarantor			Non-Guarantor			Consolidating
		(Parent) (1)			Finance Corp.			Subsidiaries			Subsidiaries			Adjustments			Consolidated
ASSETS
CURRENT ASSETS:
Cash and cash equivalents		$	1,181		$	—		$	8,728		$	531		$	—		$	10,440
Accounts receivable - trade, net of allowance for doubtful accounts		—			—			887,789			13,115			—			900,904
Accounts receivable - affiliates		—			—			7,445			—			—			7,445
Inventories		—			—			306,434			3,726			—			310,160
Prepaid expenses and other current assets		—			—			80,294			56			—			80,350
Total current assets		1,181			—			1,290,690			17,428			—			1,309,299

PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation		—			—			764,014			65,332			—			829,346
GOODWILL		—			—			1,105,008			1,998			—			1,107,006
INTANGIBLE ASSETS, net of accumulated amortization		1,169			11,552			700,603			1,632			—			714,956
INVESTMENTS IN UNCONSOLIDATED ENTITIES		—			—			189,821			—			—			189,821
NET INTERCOMPANY RECEIVABLES (PAYABLES)		327,281			437,714			(720,737		)	(44,258		)	—			—
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES		1,447,502			—			17,673			—			(1,465,175		)	—
OTHER NONCURRENT ASSETS		—			—			16,674			121			—			16,795
Total assets		$	1,777,133		$	449,266		$	3,363,746		$	42,253		$	(1,465,175	)	$	4,167,223

LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Accounts payable - trade		$	—		$	—		$	726,252		$	13,959		$	—		$	740,211
Accounts payable - affiliates		—			—			73,703			3,143			—			76,846
Accrued expenses and other payables		554			14,266			124,923			1,947			—			141,690
Advance payments received from customers		—			—			29,891			74			—			29,965
Current maturities of long-term debt		—			—			7,058			22			—			7,080
Total current liabilities		554			14,266			961,827			19,145			—			995,792

LONG-TERM DEBT, net of current maturities		250,000			450,000			929,754			80			—			1,629,834
OTHER NONCURRENT LIABILITIES		—			—			9,663			81			—			9,744

EQUITY
Partners’ equity (deficit)		1,526,579			(15,000		)	1,462,691			22,994			(1,470,449		)	1,526,815
Accumulated other comprehensive loss		—			—			(189		)	(47		)	—			(236		)
Noncontrolling interests		—			—			—			—			5,274			5,274
Total equity (deficit)		1,526,579			(15,000		)	1,462,502			22,947			(1,465,175		)	1,531,853
Total liabilities and equity		$	1,777,133		$	449,266		$	3,363,746		$	42,253		$	(1,465,175	)	$	4,167,223


(1) The parent is a co-issuer of the 2021 Notes that are included in the NGL Energy Finance Corp. column.

NGL ENERGY PARTNERS LP
Condensed Consolidating Statement of Operations
(U.S. Dollars in Thousands)

		Three Months Ended September 30, 2014
		NGL Energy
		Partners LP			NGL Energy			Guarantor			Non-Guarantor			Consolidating
		(Parent) (1)			Finance Corp.			Subsidiaries			Subsidiaries			Adjustments			Consolidated

REVENUES		$	—		$	—		$	5,325,186		$	55,364		$	(24	)	$	5,380,526

COST OF SALES		—			—			5,161,935			17,554			(24		)	5,179,465

OPERATING COSTS AND EXPENSES:
Operating		—			—			84,300			17,253			—			101,553
General and administrative		—			—			36,360			5,279			—			41,639
Depreciation and amortization		—			—			38,999			11,100			—			50,099

Operating Income		—			—			3,592			4,178			—			7,770

OTHER INCOME (EXPENSE):
Earnings of unconsolidated entities		—			—			2,310			1,387			—			3,697
Interest expense		(4,067		)	(13,134		)	(9,956		)	(1,506		)	12			(28,651		)
Other, net		—			—			(524		)	(81		)	(12		)	(617		)

Income (Loss) Before Income Taxes		(4,067		)	(13,134		)	(4,578		)	3,978			—			(17,801		)

INCOME TAX (PROVISION) BENEFIT		—			—			1,951			(29		)	—			1,922

EQUITY IN NET INCOME (LOSS) OF CONSOLIDATED SUBSIDIARIES		(15,157		)	—			604			—			14,553			—

Net Income (Loss)		(19,224		)	(13,134		)	(2,023		)	3,949			14,553			(15,879		)

LESS: NET INCOME ALLOCATED TO GENERAL PARTNER														(11,056		)	(11,056		)

LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS														(3,345		)	(3,345		)

NET INCOME (LOSS) ALLOCATED TO LIMITED PARTNERS		$	(19,224	)	$	(13,134	)	$	(2,023	)	$	3,949		$	152		$	(30,280	)

(1) The parent is a co-issuer of the 2019 Notes and 2021 Notes.

NGL ENERGY PARTNERS LP
Condensed Consolidating Statement of Operations
(U.S. Dollars in Thousands)

		Three Months Ended September 30, 2013
		NGL Energy
		Partners LP			Guarantor			Non-Guarantor			Consolidating
		(Parent)			Subsidiaries			Subsidiaries			Adjustments			Consolidated

REVENUES		$	—		$	1,546,226		$	47,735		$	(24	)	$	1,593,937

COST OF SALES		—			1,445,442			43,432			(24		)	1,488,850

OPERATING COSTS AND EXPENSES:
Operating		—			52,979			2,790			—			55,769
General and administrative		—			14,089			223			—			14,312
Depreciation and amortization		—			23,970			1,091			—			25,061

Operating Income		—			9,746			199			—			9,945

OTHER INCOME (EXPENSE):
Interest expense		(4,179		)	(6,880		)	(13		)	12			(11,060		)
Other, net		—			528			(97		)	(12		)	419

Income (Loss) Before Income Taxes		(4,179		)	3,394			89			—			(696		)

INCOME TAX PROVISION		—			(236		)	—			—			(236		)

EQUITY IN NET INCOME OF CONSOLIDATED SUBSIDIARIES		3,238			80			—			(3,318		)	—

Net Income (Loss)		(941		)	3,238			89			(3,318		)	(932		)

LESS: NET INCOME ALLOCATED TO GENERAL PARTNER											(2,451		)	(2,451		)

LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS											(9		)	(9		)

NET INCOME (LOSS) ALLOCATED TO LIMITED PARTNERS		$	(941	)	$	3,238		$	89		$	(5,778	)	$	(3,392	)

NGL ENERGY PARTNERS LP
Condensed Consolidating Statement of Operations
(U.S. Dollars in Thousands)

		Six Months Ended September 30, 2014
		NGL Energy
		Partners LP			NGL Energy			Guarantor			Non-Guarantor			Consolidating
		(Parent) (1)			Finance Corp.			Subsidiaries			Subsidiaries			Adjustments			Consolidated

REVENUES		$	—		$	—		$	8,952,772		$	76,421		$	(53	)	$	9,029,140

COST OF SALES		—			—			8,676,881			36,690			(53		)	8,713,518

OPERATING COSTS AND EXPENSES:
Operating		—			—			150,919			18,502			—			169,421
General and administrative		—			—			64,124			5,388			—			69,512
Depreciation and amortization		—			—			77,545			11,929			—			89,474

Operating Income (Loss)		—			—			(16,697		)	3,912			—			(12,785		)

OTHER INCOME (EXPENSE):
Earnings of unconsolidated entities		—			—			4,875			1,387			—			6,262
Interest expense		(8,313		)	(21,280		)	(18,058		)	(1,517		)	23			(49,145		)
Other, net		—			—			(1,056		)	71			(23		)	(1,008		)

Income (Loss) Before Income Taxes		(8,313		)	(21,280		)	(30,936		)	3,853			—			(56,676		)

INCOME TAX (PROVISION) BENEFIT		—			—			993			(106		)	—			887

EQUITY IN NET INCOME (LOSS) OF CONSOLIDATED SUBSIDIARIES		(50,886		)	—			337			—			50,549			—

Net Income (Loss)		(59,199		)	(21,280		)	(29,606		)	3,747			50,549			(55,789		)

LESS: NET INCOME ALLOCATED TO GENERAL PARTNER														(20,437		)	(20,437		)

LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS														(3,410		)	(3,410		)

NET INCOME (LOSS) ALLOCATED TO LIMITED PARTNERS		$	(59,199	)	$	(21,280	)	$	(29,606	)	$	3,747		$	26,702		$	(79,636	)


(1) The parent is a co-issuer of the 2019 Notes and 2021 Notes.

NGL ENERGY PARTNERS LP
Condensed Consolidating Statement of Operations
(U.S. Dollars in Thousands)

		Six Months Ended September 30, 2013
		NGL Energy
		Partners LP			Guarantor			Non-Guarantor			Consolidating
		(Parent)			Subsidiaries			Subsidiaries			Adjustments			Consolidated

REVENUES		$	—		$	2,914,531		$	65,421		$	(58	)	$	2,979,894

COST OF SALES		—			2,735,890			56,094			(58		)	2,791,926

OPERATING COSTS AND EXPENSES:
Operating		—			99,710			5,104			—			104,814
General and administrative		—			32,297			469			—			32,766
Depreciation and amortization		—			46,000			1,785			—			47,785

Operating Income		—			634			1,969			—			2,603

OTHER INCOME (EXPENSE):
Interest expense		(8,368		)	(13,309		)	(28		)	23			(21,682		)
Other, net		—			627			(135		)	(23		)	469

Income (Loss) Before Income Taxes		(8,368		)	(12,048		)	1,806			—			(18,610		)

INCOME TAX BENEFIT		—			170			—			—			170

EQUITY IN NET INCOME (LOSS) OF CONSOLIDATED SUBSIDIARIES		(10,206		)	1,672			—			8,534			—

Net Income (Loss)		(18,574		)	(10,206		)	1,806			8,534			(18,440		)

LESS: NET INCOME ALLOCATED TO GENERAL PARTNER											(4,139		)	(4,139		)

LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS											(134		)	(134		)

NET INCOME (LOSS) ALLOCATED TO LIMITED PARTNERS		$	(18,574	)	$	(10,206	)	$	1,806		$	4,261		$	(22,713	)

NGL ENERGY PARTNERS LP
Condensed Consolidating Statements of Comprehensive Income (Loss)
(U.S. Dollars in Thousands)

		Three Months Ended September 30, 2014
		NGL Energy
		Partners LP			NGL Energy			Guarantor			Non-Guarantor			Consolidating
		(Parent) (1)			Finance Corp.			Subsidiaries			Subsidiaries			Adjustments			Consolidated

Net income (loss)		$	(19,224	)	$	(13,134	)	$	(2,023	)	$	3,949		$	14,553		$	(15,879	)

Other comprehensive income (loss)		—			—			4			(26		)	—			(22		)

Comprehensive income (loss)		$	(19,224	)	$	(13,134	)	$	(2,019	)	$	3,923		$	14,553		$	(15,901	)


(1) The parent is a co-issuer of the 2019 Notes and 2021 Notes.

		Three Months Ended September 30, 2013
		NGL Energy
		Partners LP			Guarantor			Non-Guarantor			Consolidating
		(Parent)			Subsidiaries			Subsidiaries			Adjustments			Consolidated

Net income (loss)		$	(941	)	$	3,238		$	89		$	(3,318	)	$	(932	)

Other comprehensive loss		—			—			(5		)	—			(5		)

Comprehensive income (loss)		$	(941	)	$	3,238		$	84		$	(3,318	)	$	(937	)

NGL ENERGY PARTNERS LP
Condensed Consolidating Statements of Comprehensive Income (Loss)
(U.S. Dollars in Thousands)

		Six Months Ended September 30, 2014
		NGL Energy
		Partners LP			NGL Energy			Guarantor			Non-Guarantor			Consolidating
		(Parent) (1)			Finance Corp.			Subsidiaries			Subsidiaries			Adjustments			Consolidated

Net income (loss)		$	(59,199	)	$	(21,280	)	$	(29,606	)	$	3,747		$	50,549		$	(55,789	)

Other comprehensive income (loss)		—			—			189			(26		)	—			163

Comprehensive income (loss)		$	(59,199	)	$	(21,280	)	$	(29,417	)	$	3,721		$	50,549		$	(55,626	)


(1) The parent is a co-issuer of the 2019 Notes and 2021 Notes.

		Six Months Ended September 30, 2013
		NGL Energy
		Partners LP			Guarantor			Non-Guarantor			Consolidating
		(Parent)			Subsidiaries			Subsidiaries			Adjustments			Consolidated

Net income (loss)		$	(18,574	)	$	(10,206	)	$	1,806		$	8,534		$	(18,440	)

Other comprehensive loss		—			—			(30		)	—			(30		)

Comprehensive income (loss)		$	(18,574	)	$	(10,206	)	$	1,776		$	8,534		$	(18,470	)

NGL ENERGY PARTNERS LP
Condensed Consolidating Statement of Cash Flows
(U.S. Dollars in Thousands)

		Six Months Ended September 30, 2014
		NGL Energy
		Partners LP			NGL Energy			Guarantor			Non-Guarantor
		(Parent) (1)			Finance Corp.			Subsidiaries			Subsidiaries			Consolidated
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities		$	(8,180	)	$	(15,383	)	$	(56,019	)	$	17,947		$	(61,635	)

INVESTING ACTIVITIES:
Purchases of long-lived assets		—			—			(81,710		)	(1,141		)	(82,851		)
Acquisitions of businesses, including acquired working capital, net of cash acquired		—			—			(657,514		)	(1,250		)	(658,764		)
Cash flows from commodity derivatives		—			—			4,327			—			4,327
Proceeds from sales of assets		—			—			8,741			—			8,741
Investments in unconsolidated entities		—			—			(6,106		)	(20,284		)	(26,390		)
Distributions of capital from unconsolidated entities		—			—			2,774			1,875			4,649
Net cash used in investing activities		—			—			(729,488		)	(20,800		)	(750,288		)

FINANCING ACTIVITIES:
Proceeds from borrowings under revolving credit facilities		—			—			1,923,500			56,000			1,979,500
Payments on revolving credit facilities		—			—			(1,766,000		)	(38,000		)	(1,804,000		)
Issuance of notes		—			400,000			—			—			400,000
Payments on other long-term debt		—			—			(4,173		)	(2		)	(4,175		)
Debt issuance costs		(269		)	(7,209		)	(1,720		)	—			(9,198		)
Contributions		395			—			—			—			395
Distributions to owners		(111,008		)	—			—			—			(111,008		)
Distributions to noncontrolling interest partners		—			—			—			(8,654		)	(8,654		)
Proceeds from sale of common units, net of offering costs		370,446			—			—			—			370,446
Net changes in advances with consolidated entities		(249,724		)	(377,408		)	632,995			(5,863		)	—
Net cash provided by financing activities		9,840			15,383			784,602			3,481			813,306
Net increase (decrease) in cash and cash equivalents		1,660			—			(905		)	628			1,383
Cash and cash equivalents, beginning of period		1,181			—			8,728			531			10,440
Cash and cash equivalents, end of period		$	2,841		$	—		$	7,823		$	1,159		$	11,823


(1) The parent is a co-issuer of the 2019 Notes and 2021 Notes.

NGL ENERGY PARTNERS LP
Condensed Consolidating Statement of Cash Flows
(U.S. Dollars in Thousands)

		Six Months Ended September 30, 2013
		NGL Energy
		Partners LP			Guarantor			Non-Guarantor
		(Parent)			Subsidiaries			Subsidiaries			Consolidated
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities		$	(8,312	)	$	(44,607	)	$	4,175		$	(48,744	)

INVESTING ACTIVITIES:
Purchases of long-lived assets		—			(37,180		)	(30,219		)	(67,399		)
Acquisitions of businesses, including acquired working capital, net of cash acquired		(334,085		)	(56,237		)	(2,283		)	(392,605		)
Cash flows from commodity derivatives		—			(19,074		)	—			(19,074		)
Proceeds from sales of assets		—			2,223			1			2,224
Net cash used in investing activities		(334,085		)	(110,268		)	(32,501		)	(476,854		)

FINANCING ACTIVITIES:
Proceeds from borrowings under revolving credit facility		—			1,061,500			—			1,061,500
Payments on revolving credit facility		—			(893,000		)	—			(893,000		)
Proceeds from borrowings on other long-term debt		—			780			100			880
Payments on other long-term debt		—			(4,499		)	(8		)	(4,507		)
Debt issuance costs		(133		)	(2,085		)	—			(2,218		)
Contributions		504			—			1,940			2,444
Distributions to owners		(60,258		)	—			(365		)	(60,623		)
Proceeds from sale of common units, net of offering costs		415,089			—			—			415,089
Net changes in advances with consolidated entities		(11,459		)	(15,123		)	26,582			—
Net cash provided by financing activities		343,743			147,573			28,249			519,565
Net increase (decrease) in cash and cash equivalents		1,346			(7,302		)	(77		)	(6,033		)
Cash and cash equivalents, beginning of period		—			11,206			355			11,561
Cash and cash equivalents, end of period		$	1,346		$	3,904		$	278		$	5,528

Subsequent_Events

Subsequent Events	6 Months Ended
Subsequent Events	Sep. 30, 2014
Subsequent Events	'
Subsequent Events	'
	Note 15 — Subsequent Events

	Water Solutions Facility Acquisitions

	As described in Note 4, we are party to a development agreement that provides us a right to purchase water disposal facilities developed by the other party to the agreement. During October and November 2014, we purchased five facilities under this development agreement and paid $52.2 million of cash for these facilities.

	Sale of Natural Gas Liquids Terminal

	In November 2014, we reached an agreement to sell one of our natural gas liquids terminals. We expect the sale to close in December 2014. We expect to record during the three months ending December 31, 2014 a loss on disposal of approximately $29.0 million, consisting of a loss of $21.0 million on property, plant and equipment and $8.0 million of allocated goodwill.

Significant_Accounting_Policie1

Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 30, 2014
Significant Accounting Policies	'
Basis of Presentation	'
	Basis of Presentation

	The unaudited condensed consolidated financial statements as of and for the three months and six months ended September 30, 2014 and 2013 include our accounts and those of our controlled subsidiaries. Investments where we do not have the ability to exercise control, but do have the ability to exercise significant influence, are accounted for using the equity method of accounting. All significant intercompany transactions and account balances have been eliminated in consolidation. The unaudited condensed consolidated balance sheet at March 31, 2014 is derived from audited financial statements. We have made certain reclassifications to prior period financial statements to conform to classification methods used in fiscal year 2015. These reclassifications had no impact on previously reported amounts of equity or net income.

	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim consolidated financial information in accordance with the rules and regulations of the Securities and Exchange Commission. The unaudited condensed consolidated financial statements include all adjustments that we consider necessary for a fair presentation of our consolidated financial position and results of operations for the interim periods presented. Such adjustments consist of only normal recurring items, unless otherwise disclosed herein. Accordingly, the unaudited condensed consolidated financial statements do not include all the information and notes required by GAAP for complete annual consolidated financial statements. However, we believe that the disclosures made are adequate to make the information not misleading. These interim unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements for the fiscal year ended March 31, 2014 included in our Annual Report on Form 10-K (the “Annual Report”). Due to the seasonal nature of our natural gas liquids operations and other factors, the results of operations for interim periods are not necessarily indicative of the results to be expected for a full year.
Use of Estimates	'
	Use of Estimates

	The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amount of revenues and expenses during the period. Actual results could differ from those estimates.
Revenue Recognition	'
	Revenue Recognition

	We record revenues from product sales at the time title to the product transfers to the purchaser, which typically occurs upon receipt of the product by the purchaser. We record terminaling, transportation, storage, and service revenues at the time the service is performed, and we record tank and other rentals over the term of the lease. Pursuant to terminaling services agreements with certain of our throughput customers, we are entitled to the volume of product gained resulting from differences in the measurement of product volumes received and distributed at our terminaling facilities. Such measurement differentials occur as the result of the inherent variances in measurement devices and methodology. We recognize as revenue the net proceeds from the sale of the product gained. Revenues for our water solutions business are recognized upon receipt of the wastewater at our disposal facilities.

	We report taxes collected from customers and remitted to taxing authorities, such as sales and use taxes, on a net basis. Amounts billed to customers for shipping and handling costs are included in revenues in our condensed consolidated statements of operations.

	We enter into certain contracts whereby we agree to purchase product from a counterparty and sell the same volume of product to the same counterparty at a different location or time. When such agreements are entered into concurrently and are entered into in contemplation of each other, we record the revenues for these transactions net of cost of sales.
Fair Value Measurements	'
	Fair Value Measurements

	We apply fair value measurements to certain assets and liabilities, principally our commodity derivative instruments and assets and liabilities acquired in business combinations. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. Fair value is based upon assumptions that market participants would use when pricing an asset or liability, including assumptions about risk and risks inherent in valuation techniques and inputs to valuations. This includes not only the credit standing of counterparties and credit enhancements but also the impact of our own nonperformance risk on our liabilities. Fair value measurements assume that the transaction occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability (the market for which the reporting entity would be able to maximize the amount received or minimize the amount paid). We evaluate the need for credit adjustments to our derivative instrument fair values in accordance with the requirements noted above. Such adjustments were not material to the fair values of our derivative instruments.

	We use the following fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels:

	· Level 1 — Quoted prices (unadjusted) in active markets for identical assets and liabilities that we have the ability to access at the measurement date.

	· Level 2 — Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived from observable market data by correlation or other means. Instruments categorized in Level 2 include non-exchange traded derivatives such as over-the-counter commodity price swap and option contracts and interest rate protection agreements. The majority of our fair value measurements related to our derivative financial instruments were categorized as Level 2 at September 30, 2014 and March 31, 2014 (see Note 11). We determine the fair value of all our derivative financial instruments utilizing pricing models for significantly similar instruments. Inputs to the pricing model include publicly available prices and forward curves generated from a compilation of data gathered from third parties.

	· Level 3 — Unobservable inputs for the asset or liability including situations where there is little, if any, market activity for the asset or liability. We did not have any fair value measurements categorized as Level 3 at September 30, 2014 or March 31, 2014.

	The fair value hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3). In some cases, the inputs used to measure fair value might fall into different levels of the fair value hierarchy. The lowest level input that is significant to a fair value measurement determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to the fair value measurement requires judgment, considering factors specific to the asset or liability.
Supplemental Cash Flow Information	'
	Supplemental Cash Flow Information

	Cash flows from settlements of commodity derivative instruments are classified as cash flows from investing activities in the condensed consolidated statements of cash flows, and adjustments to the fair value of commodity derivative instruments are included in the reconciliation of net loss to net cash used in operating activities.
Inventories	'
	Inventories

	We value our inventories at the lower of cost or market, with cost determined using either the weighted-average cost or the first in, first out (FIFO) methods, including the cost of transportation and storage. In performing this analysis, we take into consideration fixed-price forward sale commitments and the opportunity to transfer propane inventory from our wholesale business to our retail business for sale in the retail markets.

Investments in Unconsolidated Entities	'
	Investments in Unconsolidated Entities

	In December 2013, as part of our acquisition of Gavilon, LLC (“Gavilon Energy”), we acquired a 50% interest in Glass Mountain Pipeline, LLC (“Glass Mountain”) and an 11% interest in a limited liability company that owns an ethanol production facility. In June 2014, we acquired an interest in a limited liability company that operates a water supply business. On July 1, 2014, as part of our acquisition of TransMontaigne Inc. (“TransMontaigne”), we acquired TLP, which owns a 42.5% interest in BOSTCO and a 50% interest in Frontera. We account for these investments using the equity method of accounting. Under the equity method, we do not report the individual assets and liabilities of these entities on our condensed consolidated balance sheets; instead, our ownership interests are reported within investments in unconsolidated entities on our condensed consolidated balance sheets. Under the equity method, the investment is recorded at acquisition cost, increased by our proportionate share of any earnings and additional capital contributions and decreased by our proportionate share of any losses, distributions paid and amortization of any excess investment. Excess investment is the amount by which our total investment exceeds our proportionate share of the book value of the net assets of the investment entity.

	Our investments in unconsolidated entities consist of the following:

		September 30,		March 31,
		2014		2014
		(in thousands)
	Glass Mountain (1)	$	189,847	$	181,488
	Ethanol production facility	9,361		8,333
	Water supply company	15,026		—
	BOSTCO (2)	244,092		—
	Frontera	24,318		—
	Total	$	482,644	$	189,821


	(1) When we acquired Gavilon we recorded the investment in Glass Mountain at fair value. The fair value of our investment in Glass Mountain exceeds our share of the historical net book value of Glass Mountain’s net assets by approximately $70 million. This difference relates primarily to goodwill and customer relationships.

	(2) When we acquired TransMontaigne, we recorded the investment in BOSTCO at fair value. The fair value of our investment in BOSTCO exceeds our share of the historical net book value of BOSTCO’s net assets by approximately $24 million.
Business Combination Measurement Period	'
	Business Combination Measurement Period

	We record the assets acquired and liabilities assumed in a business combination at their acquisition-date fair values. Pursuant to GAAP, an entity is allowed a reasonable period of time (not to exceed one year) to obtain the information necessary to identify and measure the fair value of the assets acquired and liabilities assumed in a business combination. As described in Note 4, certain of our acquisitions are still within this measurement period, and as a result, the acquisition-date fair values we have recorded for the assets acquired and liabilities assumed are subject to change. Also as described in Note 4, we made certain adjustments during the six months ended September 30, 2014 to our estimates of the acquisition-date fair values of assets acquired and liabilities assumed in business combinations that occurred during the year ended March 31, 2014.
Noncontrolling Interests	'
	Noncontrolling Interests

	We have certain consolidated subsidiaries in which outside parties own interests. The noncontrolling interest shown in our condensed consolidated financial statements represents the other owners’ share of these entities.

	On July 1, 2014, as part of our acquisition of TransMontaigne, we acquired a 19.7% limited partner interest in TLP. We have attributed net earnings allocable to TLP’s limited partners to the controlling and noncontrolling interests based on the relative ownership interests in TLP as well as including certain adjustments related to our acquisition accounting. Net earnings allocable to TLP’s limited partners are net of the earnings allocable to TLP’s general partner interest. The earnings allocable to TLP’s general partner interest include the distributions of available cash (as defined by TLP’s partnership agreement) attributable to the period to TLP’s general partner interest and incentive distribution rights, net of adjustments for TLP’s general partner’s share of undistributed earnings. Undistributed earnings are allocated to TLP’s limited partners and TLP’s general partner interest based on their respective sharing of earnings or losses specified in TLP’s partnership agreement, which is based on their ownership percentages of 98% and 2%, respectively.

Significant_Accounting_Policie2

Significant Accounting Policies (Tables)	6 Months Ended
Significant Accounting Policies (Tables)	Sep. 30, 2014
Significant Accounting Policies	'
Schedule of supplemental cash flow information	'

		Three Months Ended				Six Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
		(in thousands)
	Interest paid, exclusive of debt issuance costs and letter of credit fees	$	10,445	$	8,423	$	36,429	$	16,908
	Income taxes paid	$	1,241	$	369	$	2,246	$	650

	Value of common units issued in business combinations	$	—	$	80,619	$	—	$	80,619

Schedule of inventories	'


		September 30,		March 31,
		2014		2014
		(in thousands)
	Crude oil	$	136,722	$	156,473
	Natural gas liquids —
	Propane	207,694		85,159
	Butane	84,822		15,106
	Other	27,091		3,945
	Refined products —
	Gasoline	219,111		15,597
	Diesel	214,567		7,298
	Other	3,675		314
	Renewables	36,517		11,778
	Other	11,390		14,490
	Total	$	941,589	$	310,160

Schedule of investments in unconsolidated entities	'


		September 30,		March 31,
		2014		2014
		(in thousands)
	Glass Mountain (1)	$	189,847	$	181,488
	Ethanol production facility	9,361		8,333
	Water supply company	15,026		—
	BOSTCO (2)	244,092		—
	Frontera	24,318		—
	Total	$	482,644	$	189,821


	(1) When we acquired Gavilon we recorded the investment in Glass Mountain at fair value. The fair value of our investment in Glass Mountain exceeds our share of the historical net book value of Glass Mountain’s net assets by approximately $70 million. This difference relates primarily to goodwill and customer relationships.

	(2) When we acquired TransMontaigne, we recorded the investment in BOSTCO at fair value. The fair value of our investment in BOSTCO exceeds our share of the historical net book value of BOSTCO’s net assets by approximately $24 million.

Schedule of accrued expenses and other payables	'


		September 30,		March 31,
		2014		2014
		(in thousands)
	Accrued compensation and benefits	$	49,146	$	45,006
	Derivative liabilities	39,023		42,214
	Product exchange liabilities	43,185		3,719
	Accrued interest	23,945		18,668
	Income and other tax liabilities	38,255		13,421
	Other	24,928		18,662
	Total	$	218,482	$	141,690

Earnings_Per_Unit_Tables

Earnings Per Unit (Tables)	6 Months Ended
	Sep. 30, 2014
Earnings Per Unit	'
Schedule of earnings per common unit	'


		Three Months Ended						Six Months Ended
		September 30,						September 30,
		2014			2013			2014			2013
		(in thousands, except unit and per unit amounts)
	Net loss attributable to parent equity	$	(19,224	)	$	(941	)	$	(59,199	)	$	(18,574	)
	Less: net income allocated to general partner (1)	(11,056		)	(2,451		)	(20,437		)	(4,139		)
	Net loss allocated to subordinated unitholders (2)	—			562			4,013			3,076
	Net loss allocated to common unitholders	$	(30,280	)	$	(2,830	)	$	(75,623	)	$	(19,637	)

	Weighted average common units outstanding	88,331,653			58,909,389			81,267,742			53,336,969

	Loss per common unit - basic and diluted	$	(0.34	)	$	(0.05	)	$	(0.93	)	$	(0.37	)


	(1) The net income allocated to the general partner includes distributions to which it is entitled as the holder of incentive distribution rights, which are described in Note 10.
	(2) All outstanding subordinated units converted to common units in August 2014. Since the subordinated units did not share in the distribution of cash generated during the three months ended September 30, 2014, we did not allocate any earnings or loss during this period to the subordinated unitholders. During the three months ended June 30, 2014 and the six months ended September 30, 2013, 5,919,346 subordinated units were outstanding. The loss per subordinated unit was $(0.68) for the three months ended June 30, 2014, $(0.09) for the three months ended September 30, 2013, and $(0.52) for the six months ended September 30, 2013.

Acquisitions_Tables

Acquisitions (Tables)	6 Months Ended
Acquisitions (Tables)	Sep. 30, 2014
Acquisitions	'
Schedule of future amortization of liability	'
	The future amortization of this liability is shown below (in thousands):

	Year Ending March 31,
	2015 (six months)	$	3,670
	2016	4,040
	2017	360

TransMontaigne Inc	'
Acquisitions	'
Schedule of the fair values (and useful lives) of the assets acquired and liabilities assumed	'
	We have preliminarily estimated the fair values of the assets acquired (and useful lives) and liabilities assumed as follows (in thousands):

	Cash and cash equivalents	$	1,469
	Accounts receivable - trade	197,349
	Accounts receivable - affiliates	528
	Inventories	426,913
	Prepaid expenses and other current assets	15,373
	Property, plant and equipment:
	Refined products terminal assets (20 years)	418,405
	Buildings and leasehold improvements (20 years)	10,339
	Crude oil tanks and related equipment (20 years)	28,666
	Vehicles	1,565
	Land	56,095
	Information technology equipment	7,851
	Other	12,592
	Construction in progress	4,487
	Goodwill (1)	29,118
	Intangible assets:
	Customer relationships (7 years)	50,000
	Pipeline capacity rights (30 years)	87,000
	Trade names (indefinite life)	5,000
	Equity method investments	250,000
	Other noncurrent assets	3,911
	Accounts payable - trade	(140,597		)
	Accounts payable - affiliates	(69		)
	Accrued expenses and other payables	(73,565		)
	Advance payments received from customers	(1,919		)
	Long-term debt	(234,000		)
	Other noncurrent liabilities	(34,856		)
	Noncontrolling interests	(567,120		)
	Fair value of net assets acquired	$	554,535


	(1) Included in the refined products and renewables segment.
Water Solutions Facilities	'
Acquisitions	'
Schedule of the fair values (and useful lives) of the assets acquired and liabilities assumed	'
	We have preliminarily estimated the fair values of the assets acquired (and useful lives) and liabilities assumed as follows (in thousands):

	Accounts receivable - trade	$	939
	Inventories	253
	Prepaid expenses and other current assets	62
	Property, plant and equipment:
	Water treatment facilities and equipment (5–40 years)	23,066
	Buildings and leasehold improvements (3–7 years)	2,599
	Land	1,010
	Other (7 years)	33
	Goodwill	57,777
	Other noncurrent assets	50
	Accounts payable - trade	(58		)
	Accrued expenses and other payables	(1,092		)
	Other noncurrent liabilities	(149		)
	Noncontrolling interest	(1,620		)
	Fair value of net assets acquired	$	82,870

Gavilon Energy	'
Acquisitions	'
Schedule of the fair values (and useful lives) of the assets acquired and liabilities assumed	'


					Estimated at
					at
					March 31,
		Final			2014			Change
		(in thousands)
	Accounts receivable - trade	$	326,484		$	349,529		$	(23,045	)
	Accounts receivable - affiliates	2,564			2,564			—
	Inventories	107,430			107,430			—
	Prepaid expenses and other current assets	68,322			68,322			—
	Property, plant and equipment:
	Vehicles (3 years)	327			791			(464		)
	Crude oil tanks and related equipment (3–40 years)	83,797			77,429			6,368
	Information technology equipment (3–7 years)	4,049			4,046			3
	Buildings and leasehold improvements (3–40 years)	7,817			7,716			101
	Land	6,427			6,427			—
	Tank bottoms	16,930			15,230			1,700
	Other (7 years)	162			170			(8		)
	Construction in progress	7,180			7,190			(10		)
	Goodwill (1)	342,769			359,169			(16,400		)
	Intangible assets:
	Customer relationships (10–20 years)	107,950			101,600			6,350
	Lease agreements (1–5 years)	8,700			8,700			—
	Pipeline capacity rights (30 years)	7,800			—			7,800
	Investments in unconsolidated entities	183,000			178,000			5,000
	Other noncurrent assets	2,287			9,918			(7,631		)
	Accounts payable - trade	(342,792		)	(342,792		)	—
	Accounts payable - affiliates	(2,585		)	(2,585		)	—
	Accrued expenses and other payables	(49,447		)	(70,999		)	21,552
	Advance payments received from customers	(10,667		)	(10,667		)	—
	Other noncurrent liabilities	(46,056		)	(44,740		)	(1,316		)
	Fair value of net assets acquired	$	832,448		$	832,448		$	—


	(1) Primarily included in the crude oil logistics segment.
Oilfield Water Lines LP	'
Acquisitions	'
Schedule of the fair values (and useful lives) of the assets acquired and liabilities assumed	'


					Estimated
					at
					March 31,
		Final			2014			Change
		(in thousands)
	Accounts receivable - trade	$	6,837		$	7,268		$	(431	)
	Inventories	154			154			—
	Prepaid expenses and other current assets	402			402			—
	Property, plant and equipment:
	Vehicles (5–10 years)	8,143			8,157			(14		)
	Water treatment facilities and equipment (3–30 years)	23,173			23,173			—
	Buildings and leasehold improvements (7–30 years)	2,198			2,198			—
	Land	710			710			—
	Other (3–5 years)	53			53			—
	Intangible assets:
	Customer relationships (8–10 years)	110,000			110,000			—
	Non-compete agreements (3 years)	2,000			2,000			—
	Goodwill	90,144			89,699			445
	Accounts payable - trade	(6,469		)	(6,469		)	—
	Accrued expenses and other payables	(992		)	(992		)	—
	Other noncurrent liabilities	(64		)	(64		)	—
	Fair value of net assets acquired	$	236,289		$	236,289		$	—

Other Water Solutions	'
Acquisitions	'
Schedule of the fair values (and useful lives) of the assets acquired and liabilities assumed	'


					Estimated
					at
					March 31,
		Final			2014			Change
		(in thousands)
	Accounts receivable - trade	$	2,146		$	2,146		$	—
	Inventories	192			192			—
	Prepaid expenses and other current assets	62			61			1
	Property, plant and equipment:
	Vehicles (5–10 years)	76			90			(14		)
	Water treatment facilities and equipment (3–30 years)	11,717			14,394			(2,677		)
	Buildings and leasehold improvements (7–30 years)	3,278			1,906			1,372
	Land	207			206			1
	Other (3–5 years)	12			12			—
	Intangible assets:
	Customer relationships (8–10 years)	72,000			72,000			—
	Trade names (indefinite life)	3,325			3,325			—
	Non-compete agreements (3 years)	260			260			—
	Water facility development agreement (5 years)	14,000			14,000			—
	Water facility option agreement	2,500			2,500			—
	Goodwill	49,067			47,750			1,317
	Accounts payable - trade	(119		)	(119		)	—
	Accrued expenses and other payables	(293		)	(293		)	—
	Other noncurrent liabilities	(64		)	(64		)	—
	Fair value of net assets acquired	$	158,366		$	158,366		$	—

Disposal facilities acquired under option and development agreements	'
Acquisitions	'
Schedule of the fair values (and useful lives) of the assets acquired and liabilities assumed	'


		Estimated At
		September 30,			March 31,
		2014			2014			Change
		(in thousands)
	Accounts receivable - trade	$	124		$	245		$	(121	)
	Inventories	119			197			(78		)
	Property, plant and equipment:
	Water treatment facilities and equipment (3–30 years)	10,539			10,540			(1		)
	Buildings and leasehold improvements (7–30 years)	1,130			1,130			—
	Land	213			213			—
	Other (3–5 years)	1			1			—
	Goodwill	15,443			15,281			162
	Accounts payable - trade	(232		)	(263		)	31
	Accrued expenses and other payables	—			(7		)	7
	Other noncurrent liabilities	(50		)	(50		)	—
	Fair value of net assets acquired	$	27,287		$	27,287		$	—

Crude Oil Logistics	'
Acquisitions	'
Schedule of the fair values (and useful lives) of the assets acquired and liabilities assumed	'


					Estimated
					at
					March 31,
		Final			2014			Change
		(in thousands)
	Accounts receivable - trade	$	1,221		$	1,235		$	(14	)
	Inventories	1,021			1,021			—
	Prepaid expenses and other current assets	58			54			4
	Property, plant and equipment:
	Vehicles (5–10 years)	2,980			2,977			3
	Buildings and leasehold improvements (5–30 years)	58			280			(222		)
	Crude oil tanks and related equipment (2–30 years)	3,822			3,462			360
	Barges and towboats (20 years)	20,065			20,065			—
	Other (3–5 years)	57			53			4
	Intangible assets:
	Customer relationships (3 years)	13,300			6,300			7,000
	Non-compete agreements (3 years)	35			35			—
	Trade names (indefinite life)	530			530			—
	Goodwill	30,730			37,867			(7,137		)
	Accounts payable - trade	(521		)	(665		)	144
	Accrued expenses and other payables	(266		)	(124		)	(142		)
	Fair value of net assets acquired	$	73,090		$	73,090		$	—

Property_Plant_and_Equipment_T

Property, Plant and Equipment (Tables)	6 Months Ended
	Sep. 30, 2014
Property, Plant and Equipment	'
Schedule of property, plant and equipment	'


		September 30,		March 31,
	Description and Estimated Useful Lives	2014		2014
		(in thousands)
	Natural gas liquids terminal assets (2–30 years)	$	127,258	$	75,141
	Refined products and renewables terminal assets and equipment (20 years)	419,411		—
	Retail propane equipment (2–30 years)	167,825		160,758
	Vehicles and railcars (3–25 years)	172,799		152,676
	Water treatment facilities and equipment (3–30 years)	209,644		180,985
	Crude oil tanks and related equipment (2–40 years)	145,287		106,125
	Barges and towboats (5–40 years)	56,094		52,217
	Information technology equipment (3–7 years)	30,519		20,768
	Buildings and leasehold improvements (3–40 years)	77,415		60,004
	Land	88,350		30,241
	Tank bottoms	17,679		13,403
	Other (3–30 years)	16,770		6,341
	Construction in progress	57,319		80,251
		1,586,370		938,910
	Less: Accumulated depreciation	-153,057		(109,564		)
	Net property, plant and equipment	$	1,433,313	$	829,346

Goodwill_and_Intangible_Assets1

Goodwill and Intangible Assets (Tables)	6 Months Ended
Goodwill and Intangible Assets (Tables)	Sep. 30, 2014
Goodwill and Intangible Assets	'
Schedule of changes in the balance of goodwill	'
	The changes in the balance of goodwill during the six months ended September 30, 2014 were as follows (in thousands):

	Beginning of period	$	1,107,006
	Revisions to acquisition accounting (Note 4)	(21,614		)
	Acquisitions (Note 4)	86,895
	Disposal	(1,797		)
	End of period	$	1,170,490

Schedule of goodwill by reportable segment, including changes to goodwill	'


		September 30,			March 31,
		2014			2014
		(in thousands)
	Crude oil logistics	$	579,845		$	606,383
	Water solutions	320,106			262,203
	Liquids	91,135			90,135
	Retail propane	114,285			114,285
	Refined products and renewables	65,119			34,000
	Total	$	1,170,490		$	1,107,006

Schedule of intangible assets	'


				September 30, 2014						March 31, 2014
		Amortizable		Gross Carrying			Accumulated			Gross Carrying			Accumulated
		Lives		Amount			Amortization			Amount			Amortization
				(in thousands)
	Amortizable —
	Customer relationships (1)	3–20 years		$	761,992		$	119,439		$	697,405		$	83,261
	Pipeline capacity rights	30 years		94,800			942			—			—
	Water facility development agreement	5 years		14,000			3,500			14,000			2,100
	Executory contracts and other agreements	5–10 years		23,920			16,367			23,920			13,190
	Non-compete agreements	2–7 years		14,412			8,302			14,161			6,388
	Trade names	2–10 years		14,539			5,197			15,489			3,081
	Debt issuance costs	5–10 years		53,289			12,737			44,089			8,708
	Total amortizable			976,952			166,484			809,064			116,728

	Non-amortizable —
	Trade names			27,620						22,620
	Total			$	1,004,572		$	166,484		$	831,684		$	116,728


	(1) The weighted-average remaining amortization period for customer relationship intangible assets is approximately 9 years.
Schedule of amortization expense	'


		Three Months Ended						Six Months Ended
		September 30,						September 30,
	Recorded In	2014			2013			2014			2013
		(in thousands)
	Depreciation and amortization	$	21,711		$	11,324		$	42,604		$	20,600
	Cost of sales	1,984			949			4,121			1,574
	Interest expense	2,117			1,065			4,029			2,462
	Total	$	25,812		$	13,338		$	50,754		$	24,636


Schedule of expected amortization of intangible assets	'
	Expected amortization of our intangible assets is as follows (in thousands):

	Year Ending March 31,
	2015 (six months)	$	50,570
	2016	97,432
	2017	90,795
	2018	86,818
	2019	79,587
	Thereafter	405,266
	Total	$	810,468

LongTerm_Debt_Tables

Long-Term Debt (Tables)	6 Months Ended
Long-Term Debt (Tables)	Sep. 30, 2014
Long-Term Debt	'
Schedule of long-term debt	'


		September 30,			March 31,
		2014			2014
		(in thousands)
	Revolving credit facility —
	Expansion capital borrowings	$	137,000		$	532,500
	Working capital borrowings	942,500			389,500
	5.125% Notes due 2019	400,000			—
	6.875% Notes due 2021	450,000			450,000
	6.650% Notes due 2022	250,000			250,000
	TLP credit facility	252,000			—
	Other long-term debt	10,913			14,914
		2,442,413			1,636,914
	Less - current maturities	5,062			7,080
	Long-term debt	$	2,437,351		$	1,629,834

Schedule of outstanding borrowings and interest rates under Revolving Credit Facility	'
	At September 30, 2014, our outstanding borrowings and interest rates under our Revolving Credit Facility were as follows (dollars in thousands):

		Amount			Rate
	Expansion Capital Facility —
	LIBOR borrowings	$	137,000		1.91	%
	Working Capital Facility —
	LIBOR borrowings	942,500			1.91	%


Schedule of maturities of long-term debt	'


		Revolving									TLP		Other
		Credit			2019		2021		2022		Credit		Long-Term
	Year Ending March 31,	Facility			Notes		Notes		Notes		Facility		Debt		Total
		(in thousands)
	2015 (six months)	$	—		$	—	$	—	$	—	$	—	$	2,345	$	2,345
	2016	—			—		—		—		252,000		3,128		255,128
	2017	—			—		—		—		—		2,362		2,362
	2018	—			—		—		25,000		—		1,459		26,459
	2019	1,079,500			—		—		50,000		—		1,438		1,130,938
	Thereafter	—			400,000		450,000		175,000		—		181		1,025,181
	Total	$	1,079,500		$	400,000	$	450,000	$	250,000	$	252,000	$	10,913	$	2,442,413

TLP	'
Long-Term Debt	'
Summary of assets and liabilities	'
	The following table summarizes our basis in the assets and liabilities of TLP at September 30, 2014, inclusive of the impact of our acquisition accounting for the business combination with TransMontaigne (in thousands):

	Cash and cash equivalents	$	726
	Accounts receivable - trade, net	12,252
	Accounts receivable - affiliates	1,105
	Inventories	1,613
	Prepaid expenses and other current assets	1,363
	Property, plant and equipment, net	504,272
	Goodwill	29,118
	Intangible assets, net	38,571
	Investments in unconsolidated entities	268,410
	Other noncurrent assets	1,910
	Accounts payable - trade	(4,009		)
	Accounts payable - affiliates	(146		)
	Accrued expenses and other payables	(11,625		)
	Advanced payments received from customers	(141		)
	Long-term debt	(252,000		)
	Other noncurrent liabilities	(4,247		)
	Net assets	$	587,172

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	6 Months Ended
Commitments and Contingencies (Tables)	Sep. 30, 2014
Commitments and Contingencies	'
Schedule of future minimum lease payments	'
	Future minimum lease payments under these agreements at September 30, 2014 are as follows (in thousands):

	Year Ending March 31,
	2015 (six months)	$	71,007
	2016	106,384
	2017	88,666
	2018	74,265
	2019	49,907
	Thereafter	117,125
	Total	$	507,354
Schedule of future minimum throughput payments under agreements	'
	Future minimum throughput payments under these agreements at September 30, 2014 are as follows (in thousands):

	Year Ending March 31,
	2015 (six months)	$	41,822
	2016	95,050
	2017	82,916
	2018	62,565
	2019	51,278
	Thereafter	107,537
	Total	$	441,168
Schedule of commitments outstanding	'


		Volume		Value
		(in thousands)
	Natural gas liquids fixed-price purchase commitments (gallons)	88,574		$	102,000
	Natural gas liquids index-price purchase commitments (gallons)	528,459		601,719
	Natural gas liquids fixed-price sale commitments (gallons)	278,391		351,137
	Natural gas liquids index-price sale commitments (gallons)	370,639		512,900
	Crude oil index-price purchase commitments (barrels)	4,437		383,153
	Crude oil fixed-price sale commitments (barrels)	32		2,867
	Crude oil index-price sale commitments (barrels)	3,920		337,528

Equity_Tables

Equity (Tables)	6 Months Ended
Equity (Tables)	Sep. 30, 2014
Equity	'
Schedule of restricted unit activity	'


	Unvested restricted units at March 31, 2014	1,311,100
	Units granted	333,903
	Units vested and issued	(438,009	)
	Units withheld for employee taxes	(231,194	)
	Units forfeited	(117,000	)
	Unvested restricted units at September 30, 2014	858,800
Summary of scheduled vesting of unvested restricted units	'


	Vesting Date	Number of Awards
	July 1, 2015	334,800
	July 1, 2016	314,000
	July 1, 2017	178,500
	July 1, 2018	31,500
	Unvested restricted units at September 30, 2014	858,800
Schedule of estimated equity-based expense to be recorded on the awards granted	'
	We estimate that the future expense we will record on the unvested awards at September 30, 2014 will be as follows (in thousands), after taking into consideration an estimate of forfeitures of approximately 80,000 units.

	Year Ending March 31,
	2015 (six months)	$	6,343
	2016	11,516
	2017	7,262
	2018	2,237
	2019	249
	Total	$	27,607
Schedule of rollforward of the liability related to equity-based compensation	'
	Following is a rollforward of the liability related to equity-based compensation, which is reported within accrued expenses and other payables on our condensed consolidated balance sheets (in thousands):

	Balance at March 31, 2014	$	10,012
	Expense recorded	21,659
	Value of units vested and issued	(18,763		)
	Taxes paid on behalf of participants	(9,901		)
	Balance at September 30, 2014	$	3,007
TLP	'
Partnership Equity	'
Schedule of percentage allocations of available cash from operating surplus between the unitholders and general partner	'


									Marginal Percentage Interest In
		Total Quarterly							Distributions
		Distribution Per Unit							Unitholders		General Partner
	Minimum quarterly distribution						$	0.4	98	%	2	%
	First target distribution	above		$	0.4	up to	$	0.44	98	%	2	%
	Second target distribution	above		$	0.44	up to	$	0.5	85	%	15	%
	Third target distribution	above		$	0.5	up to	$	0.6	75	%	25	%
	Thereafter	above		$	0.6				50	%	50	%

Future Distribution Payments	'
Partnership Equity	'
Schedule of percentage allocations of available cash from operating surplus between the unitholders and general partner	'


									Marginal Percentage Interest In
		Total Quarterly							Distributions
		Distribution Per Unit							Unitholders		General Partner
	Minimum quarterly distribution						$	0.3375	99.9	%	0.1	%
	First target distribution	above		$	0.3375	up to	$	0.388125	99.9	%	0.1	%
	Second target distribution	above		$	0.388125	up to	$	0.421875	86.9	%	13.1	%
	Third target distribution	above		$	0.421875	up to	$	0.50625	76.9	%	23.1	%
	Thereafter	above		$	0.50625				51.9	%	48.1	%

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	6 Months Ended
Fair Value of Financial Instruments (Tables)	Sep. 30, 2014
Fair Value of Financial Instruments	'
Schedule of estimated fair value measurements of assets and liabilities	'
	The following table summarizes the estimated fair values of our commodity derivative assets and liabilities reported on the condensed consolidated balance sheet at September 30, 2014:

			Derivative			Derivative
			Assets			Liabilities
			(in thousands)
	Level 1 measurements		$	48,632		$	(5,378	)
	Level 2 measurements		51,389			(38,280		)
			100,021			(43,658		)

	Netting of counterparty contracts (1)		(4,635		)	4,635
	Cash collateral held		(13,704		)	—
	Commodity derivatives on condensed consolidated balance sheet		$	81,682		$	(39,023	)


	(1) Relates to derivative assets and liabilities that are expected to be net settled on an exchange or through a master netting arrangement with the counterparty.

	The following table summarizes the estimated fair values of our commodity derivative assets and liabilities reported on the condensed consolidated balance sheet at March 31, 2014:

			Derivative			Derivative
			Assets			Liabilities
			(in thousands)
	Level 1 measurements		$	4,990		$	(3,258	)
	Level 2 measurements		49,605			(43,303		)
			54,595			(46,561		)

	Netting of counterparty contracts (1)		(4,347		)	4,347
	Net cash collateral provided		456			—
	Commodity derivatives on condensed consolidated balance sheet		$	50,704		$	(42,214	)


	(1) Relates to derivative assets and liabilities that are expected to be net settled on an exchange or through a master netting arrangement with the counterparty.
Schedule of location of commodity derivative assets and liabilities reported on the condensed consolidated balance sheets	'


			September 30,			March 31,
			2014			2014
			(in thousands)
	Prepaid expenses and other current assets		$	81,682		$	50,704
	Accrued expenses and other payables		(39,023		)	(42,214		)
	Net commodity derivative asset		$	42,659		$	8,490
Summary of open commodity derivative contract positions	'


					Total		Fair Value
					Notional		of
					Units		Net Assets
	Contracts		Settlement Period		(Barrels)		(Liabilities)
					(in thousands)
	At September 30, 2014 -
	Cross-commodity (1)		October 2014 – March 2015		(12	)	$	(1,283	)
	Crude oil fixed-price (2)		October 2014 – December 2015		(1,638	)	9,380
	Crude oil index (3)		October 2014 – July 2015		2,195		4,397
	Propane fixed-price (4)		October 2014 – March 2015		1,238		53
	Refined products fixed-price (5)		October 2014 – July 2015		(4,475	)	38,712
	Renewable products fixed-price (6)		October 2014 – December 2015		(14	)	5,104
							56,363
	Net cash collateral held						(13,704		)
	Net commodity derivatives on condensed consolidated balance sheet						$	42,659

	At March 31, 2014 -
	Cross-commodity (1)		April 2014 – March 2015		140		$	(1,876	)
	Crude oil fixed-price (2)		April 2014 – March 2015		(1,600	)	(2,796		)
	Crude oil index (3)		April 2014 – December 2015		3,598		6,099
	Propane fixed-price (4)		April 2014 – March 2015		60		1,753
	Refined products fixed-price (5)		April 2014 – July 2014		732		560
	Renewable products fixed-price (6)		April 2014 – July 2014		106		4,084
	Other		April 2014		—		210
							8,034
	Net cash collateral provided						456
	Net commodity derivatives on condensed consolidated balance sheet						$	8,490


	(1) Cross-commodity — Our operating segments may purchase or sell a physical commodity where the underlying contract pricing mechanisms are tied to different commodity price indices. The contracts listed in this table as “Cross-commodity” represent derivatives we have entered into as an economic hedge against the risk of one commodity price moving relative to another commodity price.

	(2) Crude oil fixed-price — Our crude oil logistics segment routinely purchases crude oil inventory to enable us to fulfill future orders expected to be placed by our customers. The contracts listed in this table as “Crude oil fixed-price” represent derivatives we have entered into as an economic hedge against the risk that crude oil prices will decline while we are holding the inventory.

	(3) Crude oil index — Our crude oil logistics segment may purchase or sell crude oil where the underlying contract pricing mechanisms are tied to different crude oil indices. These indices may vary in the type or location of crude oil, or in the timing of delivery within a given month. The contracts listed in this table as “Crude oil index” represent derivatives we have entered into as an economic hedge against the risk of one crude oil index moving relative to another crude oil index.

	(4) Propane fixed-price — Our liquids segment routinely purchases propane inventory during the warmer months and stores the propane inventory for sale during the colder months. The contracts listed in this table as “Propane fixed-price” represent derivatives we have entered into as an economic hedge against the risk that propane prices will decline while we are holding the inventory.

	(5) Refined products fixed-price — Our refined products and renewables segment routinely purchases refined products inventory to enable us to fulfill future orders expected to be placed by our customers. The contracts listed in this table as “Refined products fixed-price” represent derivatives we have entered into as an economic hedge against the risk that refined product prices will decline while we are holding the inventory.

	(6) Renewable products fixed-price — Our refined products and renewables segment routinely purchases biodiesel and ethanol inventory to enable us to fulfill future orders expected to be placed by our customers. The contracts listed in this table as “Renewable products fixed-price” represent derivatives we have entered into as an economic hedge against the risk that biodiesel or ethanol prices will decline while we are holding the inventory.
Schedule of net gains (losses) from entity's commodity derivatives to cost of sales	'


	Three Months Ended						Six Months Ended
	September 30,						September 30,
	2014			2013			2014			2013
	(in thousands)
	$	55,981		$	(10,672	)	$	38,496		$	(17,881	)


Schedule of estimates fair values of Fixed - Rate Notes	'
	The following table provides estimates of the fair values of our fixed-rate notes at September 30, 2014 (in thousands):

	5.125% Notes due 2019		$	390,000
	6.875% Notes due 2021		475,000
	6.650% Notes due 2022		275,000

Segments_Tables

Segments (Tables)	6 Months Ended
Segments (Tables)	Sep. 30, 2014
Segments	'
Schedule of certain information related to the results of operations of each segment	'


		Three Months Ended						Six Months Ended
		September 30,						September 30,
		2014			2013			2014			2013
		(in thousands)
	Revenues:
	Crude oil logistics -
	Crude oil sales	$	2,108,117		$	1,013,061		$	4,035,061		$	1,941,595
	Crude oil transportation and other	13,082			9,794			25,196			19,729
	Water solutions -
	Water treatment and disposal	47,572			28,823			89,288			47,511
	Water transportation	5,147			5,367			10,745			7,192
	Liquids -
	Propane sales	240,433			191,437			462,879			315,274
	Other product sales	306,625			308,606			594,984			558,459
	Other revenues	6,814			9,250			12,530			18,114
	Retail propane -
	Propane sales	48,552			40,651			100,578			87,342
	Distillate sales	11,530			10,562			30,225			28,431
	Other revenues	8,276			8,198			15,457			15,898
	Refined products and renewables -
	Refined products sales	2,489,795			—			3,476,018			—
	Renewables sales	117,425			—			248,699			—
	Corporate and other	1,333			1,485			2,794			2,959
	Elimination of intersegment sales	(24,175		)	(33,297		)	(75,314		)	(62,610		)
	Total revenues	$	5,380,526		$	1,593,937		$	9,029,140		$	2,979,894

	Depreciation and Amortization:
	Crude oil logistics	$	9,240		$	3,330		$	18,971		$	8,014
	Water solutions	17,573			11,438			34,665			18,794
	Liquids	3,384			2,672			6,585			5,376
	Retail propane	7,684			6,871			15,255			14,111
	Refined products and renewables	11,917			—			12,761			—
	Corporate and other	301			750			1,237			1,490
	Total depreciation and amortization	$	50,099		$	25,061		$	89,474		$	47,785

	Operating Income (Loss):
	Crude oil logistics	$	38		$	5,884		$	1,501		$	12,493
	Water solutions	14,792			2,913			13,885			5,956
	Liquids	10,929			14,605			10,016			12,490
	Retail propane	(3,062		)	(4,520		)	(4,648		)	(6,024		)
	Refined products and renewables	8,822			—			7,567			—
	Corporate and other	(23,749		)	(8,937		)	(41,106		)	(22,312		)
	Total operating income (loss)	$	7,770		$	9,945		$	(12,785	)	$	2,603
Schedule of additions to property, plant and equipment for each segment	'


		Three Months Ended						Six Months Ended
		September 30,						September 30,
		2014			2013			2014			2013
		(in thousands)
	Additions to property, plant and equipment:
	Crude oil logistics	$	39,464		$	31,336		$	81,413		$	35,462
	Water solutions	40,610			62,473			48,072			70,182
	Liquids	1,911			13,209			3,070			28,316
	Retail propane	9,567			4,546			12,411			11,492
	Refined products and renewables	512,281			—			512,281			—
	Corporate and other	1,809			217			3,262			846
	Total	$	605,642		$	111,781		$	660,509		$	146,298

Schedule of long-lived assets (consisting of net property, plant and equipment, net intangible assets and goodwill) and total assets by segment	'


		September 30,			March 31,
		2014			2014
		(in thousands)
	Total assets:
	Crude oil logistics	$	2,079,380		$	1,723,812
	Water solutions	964,336			875,714
	Liquids	756,133			577,795
	Retail propane	506,958			541,832
	Refined products and renewables	2,183,674			303,230
	Corporate and other	61,198			144,840
	Total	$	6,551,679		$	4,167,223

	Long-lived assets, net:
	Crude oil logistics	$	996,615		$	980,978
	Water solutions	910,467			848,479
	Liquids	271,567			274,846
	Retail propane	436,621			438,324
	Refined products and renewables	772,916			60,720
	Corporate and other	53,705			47,961
	Total	$	3,441,891		$	2,651,308

Transactions_with_Affiliates_T

Transactions with Affiliates (Tables)	6 Months Ended
Transactions with Affiliates (Tables)	Sep. 30, 2014
Transactions with Affiliates	'
Summary of purchase and sales transactions of products and services	'


		Three Months Ended				Six Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
		(in thousands)
	Sales to SemGroup	$	43,427	$	3,780	$	117,233	$	3,780
	Purchases from SemGroup	45,730		28,377		118,997		47,916
	Purchases from equity method investees	34,689		—		70,965		—
	Sales to equity method investees	9,131		—		9,131		—
	Sales to entities affiliated with management	1,706		58,769		1,854		109,872
	Purchases from entities affiliated with management	3,845		48,522		6,984		56,346


Schedule of receivables from affiliates	'


		September 30,		March 31,
		2014		2014
		(in thousands)
	Receivables from SemGroup	$	39,331	$	7,303
	Receivables from entities affiliated with management	1,705		142
	Receivables from equity method investees	670		—
	Total	$	41,706	$	7,445

Schedule of payables to affiliates	'


		September 30,		March 31,
		2014		2014
		(in thousands)
	Payables to SemGroup	$	44,015	$	27,738
	Payables to equity method investees	39,549		48,454
	Payables to entities affiliated with management	1,743		654
	Total	$	85,307	$	76,846

Condensed_Consolidating_Guaran1

Condensed Consolidating Guarantor and Non-Guarantor Financial Information (Tables)	6 Months Ended
	Sep. 30, 2014
Condensed Consolidating Guarantor and Non-Guarantor Financial Information	'
Schedule of Condensed Consolidating Balance Sheets	'


	NGL ENERGY PARTNERS LP
	Condensed Consolidating Balance Sheet
	(U.S. Dollars in Thousands)

			September 30, 2014
			NGL Energy			NGL Energy			Guarantor			Non-Guarantor			Consolidating
			Partners LP
			(Parent) (1)			Finance Corp.			Subsidiaries			Subsidiaries			Adjustments			Consolidated
	ASSETS
	CURRENT ASSETS:
	Cash and cash equivalents		$	2,841		$	—		$	7,823		$	1,159		$	—		$	11,823
	Accounts receivable - trade, net of allowance for doubtful accounts		—			—			1,419,442			13,675			—			1,433,117
	Accounts receivable - affiliates		—			—			41,035			671			—			41,706
	Inventories		—			—			937,814			3,775			—			941,589
	Prepaid expenses and other current assets		—			—			155,332			1,486			—			156,818
	Total current assets		2,841			—			2,561,446			20,766			—			2,585,053

	PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation		—			—			863,694			569,619			—			1,433,313
	GOODWILL		—			—			1,139,374			31,116			—			1,170,490
	INTANGIBLE ASSETS, net of accumulated amortization		1,307			17,619			778,960			40,202			—			838,088
	INVESTMENTS IN UNCONSOLIDATED ENTITIES		—			—			214,234			268,410			—			482,644
	NET INTERCOMPANY RECEIVABLES (PAYABLES)		248,893			849,526			(1,026,605		)	(71,814		)	—			—
	INVESTMENTS IN CONSOLIDATED SUBSIDIARIES		1,743,573			—			10,470			—			(1,754,043		)	—
	OTHER NONCURRENT ASSETS		—			—			40,035			2,056			—			42,091
	Total assets		$	1,996,614		$	867,145		$	4,581,608		$	860,355		$	(1,754,043	)	$	6,551,679

	LIABILITIES AND EQUITY
	CURRENT LIABILITIES:
	Accounts payable - trade		$	—		$	—		$	1,333,780		$	11,244		$	—		$	1,345,024
	Accounts payable - affiliates		—			—			85,237			70			—			85,307
	Accrued expenses and other payables		554			19,021			186,226			12,681			—			218,482
	Advance payments received from customers		—			—			105,597			508			—			106,105
	Current maturities of long-term debt		—			—			5,004			58			—			5,062
	Total current liabilities		554			19,021			1,715,844			24,561			—			1,759,980

	LONG-TERM DEBT, net of current maturities		250,000			850,000			1,085,155			252,196			—			2,437,351
	OTHER NONCURRENT LIABILITIES		—			—			35,160			4,358			—			39,518

	EQUITY
	Partners’ equity (deficit)		1,746,060			(1,876		)	1,745,450			579,312			(2,322,813		)	1,746,133
	Accumulated other comprehensive loss		—			—			(1		)	(72		)	—			(73		)
	Noncontrolling interests		—			—			—			—			568,770			568,770
	Total equity (deficit)		1,746,060			(1,876		)	1,745,449			579,240			(1,754,043		)	2,314,830
	Total liabilities and equity		$	1,996,614		$	867,145		$	4,581,608		$	860,355		$	(1,754,043	)	$	6,551,679


	(1) The parent is a co-issuer of the 2019 Notes and 2021 Notes that are included in the NGL Energy Finance Corp. column.

	NGL ENERGY PARTNERS LP
	Condensed Consolidating Balance Sheet
	(U.S. Dollars in Thousands)

			March 31, 2014
			NGL Energy
			Partners LP			NGL Energy			Guarantor			Non-Guarantor			Consolidating
			(Parent) (1)			Finance Corp.			Subsidiaries			Subsidiaries			Adjustments			Consolidated
	ASSETS
	CURRENT ASSETS:
	Cash and cash equivalents		$	1,181		$	—		$	8,728		$	531		$	—		$	10,440
	Accounts receivable - trade, net of allowance for doubtful accounts		—			—			887,789			13,115			—			900,904
	Accounts receivable - affiliates		—			—			7,445			—			—			7,445
Inventories		—			—			306,434			3,726			—			310,160
Prepaid expenses and other current assets		—			—			80,294			56			—			80,350
Total current assets		1,181			—			1,290,690			17,428			—			1,309,299

PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation		—			—			764,014			65,332			—			829,346
GOODWILL		—			—			1,105,008			1,998			—			1,107,006
INTANGIBLE ASSETS, net of accumulated amortization		1,169			11,552			700,603			1,632			—			714,956
INVESTMENTS IN UNCONSOLIDATED ENTITIES		—			—			189,821			—			—			189,821
NET INTERCOMPANY RECEIVABLES (PAYABLES)		327,281			437,714			(720,737		)	(44,258		)	—			—
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES		1,447,502			—			17,673			—			(1,465,175		)	—
OTHER NONCURRENT ASSETS		—			—			16,674			121			—			16,795
Total assets		$	1,777,133		$	449,266		$	3,363,746		$	42,253		$	(1,465,175	)	$	4,167,223

LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Accounts payable - trade		$	—		$	—		$	726,252		$	13,959		$	—		$	740,211
Accounts payable - affiliates		—			—			73,703			3,143			—			76,846
Accrued expenses and other payables		554			14,266			124,923			1,947			—			141,690
Advance payments received from customers		—			—			29,891			74			—			29,965
Current maturities of long-term debt		—			—			7,058			22			—			7,080
Total current liabilities		554			14,266			961,827			19,145			—			995,792

LONG-TERM DEBT, net of current maturities		250,000			450,000			929,754			80			—			1,629,834
OTHER NONCURRENT LIABILITIES		—			—			9,663			81			—			9,744

EQUITY
Partners’ equity (deficit)		1,526,579			(15,000		)	1,462,691			22,994			(1,470,449		)	1,526,815
Accumulated other comprehensive loss		—			—			(189		)	(47		)	—			(236		)
Noncontrolling interests		—			—			—			—			5,274			5,274
Total equity (deficit)		1,526,579			(15,000		)	1,462,502			22,947			(1,465,175		)	1,531,853
Total liabilities and equity		$	1,777,133		$	449,266		$	3,363,746		$	42,253		$	(1,465,175	)	$	4,167,223


(1) The parent is a co-issuer of the 2021 Notes that are included in the NGL Energy Finance Corp. column.

Schedule of Condensed Consolidating Statements of Operations	'
	NGL ENERGY PARTNERS LP
	Condensed Consolidating Statement of Operations
	(U.S. Dollars in Thousands)

			Three Months Ended September 30, 2014
			NGL Energy
			Partners LP			NGL Energy			Guarantor			Non-Guarantor			Consolidating
			(Parent) (1)			Finance Corp.			Subsidiaries			Subsidiaries			Adjustments			Consolidated

	REVENUES		$	—		$	—		$	5,325,186		$	55,364		$	(24	)	$	5,380,526

	COST OF SALES		—			—			5,161,935			17,554			(24		)	5,179,465

	OPERATING COSTS AND EXPENSES:
	Operating		—			—			84,300			17,253			—			101,553
	General and administrative		—			—			36,360			5,279			—			41,639
	Depreciation and amortization		—			—			38,999			11,100			—			50,099

	Operating Income		—			—			3,592			4,178			—			7,770

	OTHER INCOME (EXPENSE):
	Earnings of unconsolidated entities		—			—			2,310			1,387			—			3,697
	Interest expense		(4,067		)	(13,134		)	(9,956		)	(1,506		)	12			(28,651		)
	Other, net		—			—			(524		)	(81		)	(12		)	(617		)

	Income (Loss) Before Income Taxes		(4,067		)	(13,134		)	(4,578		)	3,978			—			(17,801		)

	INCOME TAX (PROVISION) BENEFIT		—			—			1,951			(29		)	—			1,922

	EQUITY IN NET INCOME (LOSS) OF CONSOLIDATED SUBSIDIARIES		(15,157		)	—			604			—			14,553			—

	Net Income (Loss)		(19,224		)	(13,134		)	(2,023		)	3,949			14,553			(15,879		)

	LESS: NET INCOME ALLOCATED TO GENERAL PARTNER														(11,056		)	(11,056		)

	LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS														(3,345		)	(3,345		)

	NET INCOME (LOSS) ALLOCATED TO LIMITED PARTNERS		$	(19,224	)	$	(13,134	)	$	(2,023	)	$	3,949		$	152		$	(30,280	)

	(1) The parent is a co-issuer of the 2019 Notes and 2021 Notes.

	NGL ENERGY PARTNERS LP
	Condensed Consolidating Statement of Operations
	(U.S. Dollars in Thousands)

			Three Months Ended September 30, 2013
			NGL Energy
			Partners LP			Guarantor			Non-Guarantor			Consolidating
			(Parent)			Subsidiaries			Subsidiaries			Adjustments			Consolidated

	REVENUES		$	—		$	1,546,226		$	47,735		$	(24	)	$	1,593,937

	COST OF SALES		—			1,445,442			43,432			(24		)	1,488,850

	OPERATING COSTS AND EXPENSES:
	Operating		—			52,979			2,790			—			55,769
	General and administrative		—			14,089			223			—			14,312
	Depreciation and amortization		—			23,970			1,091			—			25,061

	Operating Income		—			9,746			199			—			9,945

	OTHER INCOME (EXPENSE):
	Interest expense		(4,179		)	(6,880		)	(13		)	12			(11,060		)
Other, net		—			528			(97		)	(12		)	419

Income (Loss) Before Income Taxes		(4,179		)	3,394			89			—			(696		)

INCOME TAX PROVISION		—			(236		)	—			—			(236		)

EQUITY IN NET INCOME OF CONSOLIDATED SUBSIDIARIES		3,238			80			—			(3,318		)	—

Net Income (Loss)		(941		)	3,238			89			(3,318		)	(932		)

LESS: NET INCOME ALLOCATED TO GENERAL PARTNER											(2,451		)	(2,451		)

LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS											(9		)	(9		)

NET INCOME (LOSS) ALLOCATED TO LIMITED PARTNERS		$	(941	)	$	3,238		$	89		$	(5,778	)	$	(3,392	)

NGL ENERGY PARTNERS LP
Condensed Consolidating Statement of Operations
(U.S. Dollars in Thousands)

		Six Months Ended September 30, 2014
		NGL Energy
		Partners LP			NGL Energy			Guarantor			Non-Guarantor			Consolidating
		(Parent) (1)			Finance Corp.			Subsidiaries			Subsidiaries			Adjustments			Consolidated

REVENUES		$	—		$	—		$	8,952,772		$	76,421		$	(53	)	$	9,029,140

COST OF SALES		—			—			8,676,881			36,690			(53		)	8,713,518

OPERATING COSTS AND EXPENSES:
Operating		—			—			150,919			18,502			—			169,421
General and administrative		—			—			64,124			5,388			—			69,512
Depreciation and amortization		—			—			77,545			11,929			—			89,474

Operating Income (Loss)		—			—			(16,697		)	3,912			—			(12,785		)

OTHER INCOME (EXPENSE):
Earnings of unconsolidated entities		—			—			4,875			1,387			—			6,262
Interest expense		(8,313		)	(21,280		)	(18,058		)	(1,517		)	23			(49,145		)
Other, net		—			—			(1,056		)	71			(23		)	(1,008		)

Income (Loss) Before Income Taxes		(8,313		)	(21,280		)	(30,936		)	3,853			—			(56,676		)

INCOME TAX (PROVISION) BENEFIT		—			—			993			(106		)	—			887

EQUITY IN NET INCOME (LOSS) OF CONSOLIDATED SUBSIDIARIES		(50,886		)	—			337			—			50,549			—

Net Income (Loss)		(59,199		)	(21,280		)	(29,606		)	3,747			50,549			(55,789		)

LESS: NET INCOME ALLOCATED TO GENERAL PARTNER														(20,437		)	(20,437		)

LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS														(3,410		)	(3,410		)

NET INCOME (LOSS) ALLOCATED TO LIMITED PARTNERS		$	(59,199	)	$	(21,280	)	$	(29,606	)	$	3,747		$	26,702		$	(79,636	)


(1) The parent is a co-issuer of the 2019 Notes and 2021 Notes.

NGL ENERGY PARTNERS LP
Condensed Consolidating Statement of Operations
(U.S. Dollars in Thousands)

		Six Months Ended September 30, 2013
		NGL Energy
		Partners LP			Guarantor			Non-Guarantor			Consolidating
		(Parent)			Subsidiaries			Subsidiaries			Adjustments			Consolidated

REVENUES		$	—		$	2,914,531		$	65,421		$	(58	)	$	2,979,894

COST OF SALES		—			2,735,890			56,094			(58		)	2,791,926

OPERATING COSTS AND EXPENSES:
Operating		—			99,710			5,104			—			104,814
General and administrative		—			32,297			469			—			32,766
Depreciation and amortization		—			46,000			1,785			—			47,785

Operating Income		—			634			1,969			—			2,603

OTHER INCOME (EXPENSE):
Interest expense		(8,368		)	(13,309		)	(28		)	23			(21,682		)
Other, net		—			627			(135		)	(23		)	469

Income (Loss) Before Income Taxes		(8,368		)	(12,048		)	1,806			—			(18,610		)

INCOME TAX BENEFIT		—			170			—			—			170

EQUITY IN NET INCOME (LOSS) OF CONSOLIDATED SUBSIDIARIES		(10,206		)	1,672			—			8,534			—

Net Income (Loss)		(18,574		)	(10,206		)	1,806			8,534			(18,440		)

LESS: NET INCOME ALLOCATED TO GENERAL PARTNER											(4,139		)	(4,139		)

LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS											(134		)	(134		)

NET INCOME (LOSS) ALLOCATED TO LIMITED PARTNERS		$	(18,574	)	$	(10,206	)	$	1,806		$	4,261		$	(22,713	)

Schedule of Condensed Consolidating Statements of Comprehensive Income (Loss)	'
	NGL ENERGY PARTNERS LP
	Condensed Consolidating Statements of Comprehensive Income (Loss)
	(U.S. Dollars in Thousands)

			Three Months Ended September 30, 2014
			NGL Energy
			Partners LP			NGL Energy			Guarantor			Non-Guarantor			Consolidating
			(Parent) (1)			Finance Corp.			Subsidiaries			Subsidiaries			Adjustments			Consolidated

	Net income (loss)		$	(19,224	)	$	(13,134	)	$	(2,023	)	$	3,949		$	14,553		$	(15,879	)

	Other comprehensive income (loss)		—			—			4			(26		)	—			(22		)

	Comprehensive income (loss)		$	(19,224	)	$	(13,134	)	$	(2,019	)	$	3,923		$	14,553		$	(15,901	)


	(1) The parent is a co-issuer of the 2019 Notes and 2021 Notes.

			Three Months Ended September 30, 2013
			NGL Energy
			Partners LP			Guarantor			Non-Guarantor			Consolidating
			(Parent)			Subsidiaries			Subsidiaries			Adjustments			Consolidated

	Net income (loss)		$	(941	)	$	3,238		$	89		$	(3,318	)	$	(932	)

	Other comprehensive loss		—			—			(5		)	—			(5		)

	Comprehensive income (loss)		$	(941	)	$	3,238		$	84		$	(3,318	)	$	(937	)

	NGL ENERGY PARTNERS LP
	Condensed Consolidating Statements of Comprehensive Income (Loss)
	(U.S. Dollars in Thousands)

			Six Months Ended September 30, 2014
			NGL Energy
			Partners LP			NGL Energy			Guarantor			Non-Guarantor			Consolidating
			(Parent) (1)			Finance Corp.			Subsidiaries			Subsidiaries			Adjustments			Consolidated

	Net income (loss)		$	(59,199	)	$	(21,280	)	$	(29,606	)	$	3,747		$	50,549		$	(55,789	)

	Other comprehensive income (loss)		—			—			189			(26		)	—			163

	Comprehensive income (loss)		$	(59,199	)	$	(21,280	)	$	(29,417	)	$	3,721		$	50,549		$	(55,626	)


	(1) The parent is a co-issuer of the 2019 Notes and 2021 Notes.

			Six Months Ended September 30, 2013
			NGL Energy
			Partners LP			Guarantor			Non-Guarantor			Consolidating
			(Parent)			Subsidiaries			Subsidiaries			Adjustments			Consolidated

	Net income (loss)		$	(18,574	)	$	(10,206	)	$	1,806		$	8,534		$	(18,440	)

	Other comprehensive loss		—			—			(30		)	—			(30		)

	Comprehensive income (loss)		$	(18,574	)	$	(10,206	)	$	1,776		$	8,534		$	(18,470	)

Schedule of Condensed Consolidating Statements of Cash Flows	'
	NGL ENERGY PARTNERS LP
	Condensed Consolidating Statement of Cash Flows
	(U.S. Dollars in Thousands)

			Six Months Ended September 30, 2014
			NGL Energy
			Partners LP			NGL Energy			Guarantor			Non-Guarantor
			(Parent) (1)			Finance Corp.			Subsidiaries			Subsidiaries			Consolidated
	OPERATING ACTIVITIES:
	Net cash provided by (used in) operating activities		$	(8,180	)	$	(15,383	)	$	(56,019	)	$	17,947		$	(61,635	)

	INVESTING ACTIVITIES:
	Purchases of long-lived assets		—			—			(81,710		)	(1,141		)	(82,851		)
	Acquisitions of businesses, including acquired working capital, net of cash acquired		—			—			(657,514		)	(1,250		)	(658,764		)
	Cash flows from commodity derivatives		—			—			4,327			—			4,327
	Proceeds from sales of assets		—			—			8,741			—			8,741
	Investments in unconsolidated entities		—			—			(6,106		)	(20,284		)	(26,390		)
	Distributions of capital from unconsolidated entities		—			—			2,774			1,875			4,649
	Net cash used in investing activities		—			—			(729,488		)	(20,800		)	(750,288		)

	FINANCING ACTIVITIES:
	Proceeds from borrowings under revolving credit facilities		—			—			1,923,500			56,000			1,979,500
	Payments on revolving credit facilities		—			—			(1,766,000		)	(38,000		)	(1,804,000		)
	Issuance of notes		—			400,000			—			—			400,000
	Payments on other long-term debt		—			—			(4,173		)	(2		)	(4,175		)
	Debt issuance costs		(269		)	(7,209		)	(1,720		)	—			(9,198		)
	Contributions		395			—			—			—			395
	Distributions to owners		(111,008		)	—			—			—			(111,008		)
	Distributions to noncontrolling interest partners		—			—			—			(8,654		)	(8,654		)
	Proceeds from sale of common units, net of offering costs		370,446			—			—			—			370,446
	Net changes in advances with consolidated entities		(249,724		)	(377,408		)	632,995			(5,863		)	—
	Net cash provided by financing activities		9,840			15,383			784,602			3,481			813,306
	Net increase (decrease) in cash and cash equivalents		1,660			—			(905		)	628			1,383
	Cash and cash equivalents, beginning of period		1,181			—			8,728			531			10,440
	Cash and cash equivalents, end of period		$	2,841		$	—		$	7,823		$	1,159		$	11,823


	(1) The parent is a co-issuer of the 2019 Notes and 2021 Notes.

	NGL ENERGY PARTNERS LP
	Condensed Consolidating Statement of Cash Flows
	(U.S. Dollars in Thousands)

			Six Months Ended September 30, 2013
			NGL Energy
			Partners LP			Guarantor			Non-Guarantor
			(Parent)			Subsidiaries			Subsidiaries			Consolidated
	OPERATING ACTIVITIES:
	Net cash provided by (used in) operating activities		$	(8,312	)	$	(44,607	)	$	4,175		$	(48,744	)

	INVESTING ACTIVITIES:
	Purchases of long-lived assets		—			(37,180		)	(30,219		)	(67,399		)
	Acquisitions of businesses, including acquired working capital, net of cash acquired		(334,085		)	(56,237		)	(2,283		)	(392,605		)
	Cash flows from commodity derivatives		—			(19,074		)	—			(19,074		)
	Proceeds from sales of assets		—			2,223			1			2,224
	Net cash used in investing activities		(334,085		)	(110,268		)	(32,501		)	(476,854		)

	FINANCING ACTIVITIES:
	Proceeds from borrowings under revolving credit facility		—			1,061,500			—			1,061,500
	Payments on revolving credit facility		—			(893,000		)	—			(893,000		)
	Proceeds from borrowings on other long-term debt		—			780			100			880
	Payments on other long-term debt		—			(4,499		)	(8		)	(4,507		)
	Debt issuance costs		(133		)	(2,085		)	—			(2,218		)
Contributions		504			—			1,940			2,444
Distributions to owners		(60,258		)	—			(365		)	(60,623		)
Proceeds from sale of common units, net of offering costs		415,089			—			—			415,089
Net changes in advances with consolidated entities		(11,459		)	(15,123		)	26,582			—
Net cash provided by financing activities		343,743			147,573			28,249			519,565
Net increase (decrease) in cash and cash equivalents		1,346			(7,302		)	(77		)	(6,033		)
Cash and cash equivalents, beginning of period		—			11,206			355			11,561
Cash and cash equivalents, end of period		$	1,346		$	3,904		$	278		$	5,528

Organization_and_Operations_De

Organization and Operations (Details)	6 Months Ended	12 Months Ended
Organization and Operations (Details)	Sep. 30, 2014	Mar. 31, 2014
Organization and operations	'	'
Ownership interest (as a percent)	0.10%	0.10%
TLP \| General partner	'	'
Organization and operations	'	'
Ownership interest (as a percent)	2.00%	'
TLP \| Limited partner	'	'
Organization and operations	'	'
Ownership interest (as a percent)	19.70%	'
Retail propane and distillate operations	'	'
Organization and operations	'	'
Number of owned terminals	22	'
Retail propane and distillate operations \| Minimum	'	'
Organization and operations	'	'
Number of states in which entity operates	20	'
Refined products and renewables \| BOSTCO	'	'
Organization and operations	'	'
Equity method ownership interest (as a percent)	42.50%	'
Refined products and renewables \| Frontera	'	'
Organization and operations	'	'
Equity method ownership interest (as a percent)	50.00%	'
Crude oil logistics	'	'
Organization and operations	'	'
Equity method ownership interest (as a percent)	50.00%	'

Significant_Accounting_Policie3

Significant Accounting Policies (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Supplemental cash flow information	'	'	'	'
Interest paid, exclusive of debt issuance costs and letter of credit fees	$10,445	$8,423	$36,429	$16,908
Income taxes paid	1,241	369	2,246	650
Value of common units issued in business combinations	'	$80,619	'	$80,619

Significant_Accounting_Policie4

Significant Accounting Policies (Details 2) (USD $)	Sep. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified	Sep. 30, 2014	Mar. 31, 2014
Inventories	'	'
Crude oil	$136,722	$156,473
Natural gas liquids:	'	'
Propane	207,694	85,159
Butane	84,822	15,106
Other	11,390	14,490
Butane	27,091	3,945
Refined products:	'	'
Gasoline	219,111	15,597
Diesel	214,567	7,298
Other	11,390	14,490
Other	3,675	314
Renewables	36,517	11,778
Inventories	$941,589	$310,160

Significant_Accounting_Policie5

Significant Accounting Policies (Details 3) (USD $)

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Dec. 02, 2013

Dec. 31, 2013

Jul. 02, 2014

Glass Mountain

Ethanol production facility

Water Supply Company

BOSTCO

Frontera

Gavilon Energy

TransMontaigne

Glass Mountain

Limited liability company

BOSTCO

Frontera

Investments in Unconsolidated Entities

Equity method ownership interest (as a percent)

11.00%

50.00%

11.00%

42.50%

50.00%

Carrying Value

$482,644,000

$189,821,000

$189,847,000

$181,488,000

$9,361,000

$8,333,000

$15,026,000

$244,092,000

$24,318,000

Fair value in excess of historical net book value

$70,000,000

$24,000,000

Significant_Accounting_Policie6

Significant Accounting Policies (Details 4) (USD $)	Sep. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified	Sep. 30, 2014	Mar. 31, 2014
Accrued Expenses and Other Payables	'	'
Accrued compensation and benefits	$49,146	$45,006
Derivative liabilities	39,023	42,214
Product exchange liabilities	43,185	3,719
Accrued interest	23,945	18,668
Income and other tax liabilities	38,255	13,421
Other	24,928	18,662
Total accrued expenses and other payables	$218,482	$141,690

Significant_Accounting_Policie7

Significant Accounting Policies (Details 5)	6 Months Ended	12 Months Ended		0 Months Ended
	Sep. 30, 2014	Mar. 31, 2014	Jul. 02, 2014	Jul. 02, 2014
	Sep. 30, 2014	Mar. 31, 2014	TLP	TLP
Noncontrolling Interests	'	'	'	'
Ownership interest acquired (as a percent)	'	'	19.70%	'
Limited partners, interest (as a percent)	99.90%	99.90%	'	98.00%
General partner, interest (as a percent)	0.10%	0.10%	'	2.00%

Earnings_Per_Unit_Details

Earnings Per Unit (Details) (USD $)	3 Months Ended			6 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Earnings per unit	'	'	'	'	'
Net loss attributable to parent equity	-19,224	'	($941)	($59,199)	($18,574)
Less: net income allocated to general partner	11,056	'	2,451	20,437	4,139
NET LOSS ALLOCATED TO LIMITED PARTNERS	-30,280	'	-3,392	-79,636	-22,713
Common unitholders	'	'	'	'	'
Earnings per unit	'	'	'	'	'
NET LOSS ALLOCATED TO LIMITED PARTNERS	-30,280	'	-2,830	-75,623	-19,637
Weighted average units outstanding (in shares)	88,331,653	'	58,909,389	81,267,742	53,336,969
Basic and diluted loss per unit (in dollars per share)	-0.34	'	($0.05)	($0.93)	($0.37)
Subordinated unitholders	'	'	'	'	'
Earnings per unit	'	'	'	'	'
NET LOSS ALLOCATED TO LIMITED PARTNERS	'	'	$562	$4,013	$3,076
Weighted average units outstanding (in shares)	5,919,346	'	'	'	5,919,346
Basic and diluted loss per unit (in dollars per share)	'	($0.68)	($0.09)	'	($0.52)

Acquisitions_Details

Acquisitions (Details) (USD $)

3 Months Ended

6 Months Ended

0 Months Ended

3 Months Ended

6 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Mar. 31, 2014

Jul. 02, 2014

Sep. 30, 2014

Jul. 02, 2014

TransMontaigne Inc

Previous owner of TransMontaigne

TLP

item

Customer relationships

Pipeline capacity rights

Trade names

Refined products terminal assets

Buildings and leasehold improvements

Crude oil tanks and related equipment

Vehicles

Land

Information technology equipment

Other

Construction in progress

General partner

Limited partner

Acquisitions

Purchase price, net of cash acquired

$658,764,000

$392,605,000

$174,200,000

Inventory purchased

426,913,000

380,400,000

Amount paid for inventory purchased

346,900,000

Working capital settlement payment

33,500,000

Ownership interest acquired (as a percent)

2.00%

19.70%

Estimated additional amount to be paid on completion of working capital settlement process

27,500,000

Estimated fair values of the assets acquired and liabilities assumed

Cash and cash equivalents

1,469,000

Accounts receivable - trade

197,349,000

Accounts receivable - affiliates

528,000

Inventories

426,913,000

380,400,000

Prepaid expenses and other current assets

15,373,000

Property, plant and equipment

418,405,000

10,339,000

28,666,000

1,565,000

56,095,000

7,851,000

12,592,000

4,487,000

Useful life of property, plant and equipment

'20 years

Goodwill

1,170,490,000

1,107,006,000

29,118,000

Intangible assets

50,000,000

87,000,000

5,000,000

Useful life of intangible assets

'7 years

'30 years

Equity method investments

250,000,000

Other noncurrent assets

3,911,000

Accounts payable - trade

-140,597,000

Accounts payable - affiliates

-69,000

Accrued expenses and other payables

-73,565,000

Advance payments received from customers

-1,919,000

Long-term debt

-234,000,000

Other noncurrent liabilities

-34,856,000

Noncontrolling interest

-567,120,000

Fair value of net assets acquired

554,535,000

Accrual related to crude oil contracts

2,500,000

Expense related to incentive compensation

21,659,000

Expense related to termination benefits

2,700,000

Revenues

5,380,526,000

1,593,937,000

9,029,140,000

2,979,894,000

1,100,000,000

Operating income (loss)

$7,770,000

$9,945,000

($12,785,000)

$2,603,000

($300,000)

Proposed exchange ratio of the company's common units for each outstanding unit of acquiree

Acquisitions_Details_2

Acquisitions (Details 2) (USD $)

3 Months Ended

6 Months Ended

1 Months Ended

6 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Mar. 31, 2014

Sep. 30, 2014

Jul. 31, 2014

Sep. 30, 2014

Water treatment facilities and equipment

Buildings and leasehold improvements

Water Solutions Facilities

Minimum

Maximum

Minimum

Maximum

item

Water treatment facilities and equipment

Buildings and leasehold improvements

Land

Other

Minimum

Maximum

Minimum

Maximum

Acquisitions

Number of water disposal facilities acquired

Ownership interest acquired (as a percent)

75.00%

Number of additional water disposal facilities acquired

Cash paid for water facilities

$82,900,000

Number of combined water disposal facilities acquired

Estimated fair values of the assets acquired and liabilities assumed

Accounts receivable - trade

939,000

Inventories

253,000

Prepaid expenses and other current assets

62,000

Property, plant and equipment

23,066,000

2,599,000

1,010,000

33,000

Useful life of property, plant and equipment

'3 years

'30 years

'3 years

'40 years

'5 years

'40 years

'3 years

'7 years

Goodwill

1,170,490,000

1,107,006,000

57,777,000

Other noncurrent assets

50,000

Accounts payable - trade

-58,000

Accrued expenses and other payables

-1,092,000

Other noncurrent liabilities

-149,000

Noncontrolling interest

-1,620,000

Fair value of net assets acquired

82,870,000

Revenues

5,380,526,000

1,593,937,000

9,029,140,000

2,979,894,000

7,100,000

Operating income

$7,770,000

$9,945,000

($12,785,000)

$2,603,000

$1,500,000

Acquisitions_Details_3

Acquisitions (Details 3) (USD $)	6 Months Ended	12 Months Ended	0 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Mar. 31, 2014	Jun. 09, 2014
	Retail propane	Retail propane	Water Supply Company
	item	item
Acquisitions	'	'	'
Number of business combination agreements	3	4	'
Cash paid	$6.40	'	$15

Acquisitions_Details_4

Acquisitions (Details 4) (USD $)

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Dec. 02, 2013

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Dec. 02, 2013

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Dec. 31, 2013

Crude oil tanks and related equipment

Information technology equipment

Buildings and leasehold improvements

Gavilon Energy

Minimum

Maximum

Minimum

Maximum

Minimum

Maximum

Estimated

Change

Crude oil storage lease commitments

Customer relationships

Lease Agreements

Pipeline capacity rights

Vehicles

Crude oil tanks and related equipment

Information technology equipment

Buildings and leasehold improvements

Land

Tank bottoms

Other

Construction in progress

Glass Mountain

Estimated

Change

Minimum

Maximum

Estimated

Minimum

Maximum

Change

Estimated

Change

Estimated

Change

Minimum

Maximum

Estimated

Change

Minimum

Maximum

Estimated

Change

Minimum

Maximum

Estimated

Change

Estimated

Change

Estimated

Change

Acquisitions

Cash paid, net of cash acquired

$832,400,000

Equity method ownership interest (as a percent)

11.00%

50.00%

Estimated fair values of the assets acquired and liabilities assumed

Accounts receivable - trade

326,484,000

349,529,000

-23,045,000

Accounts receivable - affiliates

2,564,000

Inventories

107,430,000

Prepaid expenses and other current assets

68,322,000

Property, plant and equipment

327,000

791,000

-464,000

83,797,000

77,429,000

6,368,000

4,049,000

4,046,000

3,000

7,817,000

7,716,000

101,000

6,427,000

16,930,000

15,230,000

1,700,000

162,000

170,000

-8,000

7,180,000

7,190,000

-10,000

Useful life of property, plant and equipment

'2 years

'40 years

'3 years

'7 years

'3 years

'40 years

'3 years

'40 years

'3 years

'7 years

'3 years

'40 years

'7 years

Goodwill

1,170,490,000

1,107,006,000

342,769,000

359,169,000

-16,400,000

Intangible assets

107,950,000

101,600,000

6,350,000

8,700,000

7,800,000

Useful life of intangible assets

'10 years

'20 years

'1 year

'5 years

Investments in unconsolidated entities

183,000,000

178,000,000

5,000,000

Other noncurrent assets

2,287,000

9,918,000

-7,631,000

Accounts payable - trade

-342,792,000

Accounts payable - affiliates

-2,585,000

Accrued expenses and other payables

-49,447,000

-70,999,000

-21,552,000

Advance payments received from customers

-10,667,000

Other noncurrent liabilities

-46,056,000

-44,740,000

-1,316,000

Fair value of net assets acquired

832,448,000

Bonus expense recorded during the period

5,200,000

Additional bonus expense expected

1,600,000

Liability recorded in the acquisition accounting

15,900,000

13,900,000

Amortization of contract liabilities through cost of sales

5,000,000

Future amortization

2015 (six months)

3,670,000

2016

4,040,000

2017

$360,000

Acquisitions_Details_5

Acquisitions (Details 5) (USD $)

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Aug. 02, 2013

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Water treatment facilities and equipment

Buildings and leasehold improvements

Oilfield Water Lines LP

Minimum

Maximum

Minimum

Maximum

Estimated

Change

Customer relationships

Non-compete agreements

Vehicles

Water treatment facilities and equipment

Buildings and leasehold improvements

Land

Other

Estimated

Minimum

Maximum

Estimated

Change

Minimum

Maximum

Estimated

Minimum

Maximum

Estimated

Minimum

Maximum

Estimated

Minimum

Maximum

Acquisitions

Number of common units issued to acquire business (in shares)

2,463,287

Value of common units issued

$68,600,000

Cash paid, net of cash acquired

167,700,000

Estimated fair values of the assets acquired and liabilities assumed

Accounts receivable - trade

6,837,000

7,268,000

-431,000

Inventories

154,000

Prepaid expenses and other current assets

402,000

Property, plant and equipment

8,143,000

8,157,000

-14,000

23,173,000

2,198,000

710,000

53,000

Useful life of property, plant and equipment

'3 years

'30 years

'3 years

'40 years

'5 years

'10 years

'3 years

'30 years

'7 years

'30 years

'3 years

'5 years

Intangible assets

110,000,000

2,000,000

Useful life of intangible assets

'8 years

'10 years

'3 years

Goodwill

1,170,490,000

1,107,006,000

90,144,000

89,699,000

445,000

Accounts payable - trade

-6,469,000

Accrued expenses and other payables

-992,000

Other noncurrent liabilities

-64,000

Fair value of net assets acquired

$236,289,000

Acquisitions_Details_6

Acquisitions (Details 6) (USD $)

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Sep. 30, 2013

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Mar. 01, 2014

Mar. 02, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Water treatment facilities and equipment

Buildings and leasehold improvements

Acquisitions_Details_7

Acquisitions (Details 7) (USD $)

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Buildings and leasehold improvements

Crude oil tanks and related equipment

Crude Oil Logistics

Minimum

Maximum

Minimum

Maximum

item

Estimated

Change

Customer relationships

Non-compete agreements

Trade names

Vehicles

Buildings and leasehold improvements

Crude oil tanks and related equipment

Barges and towboats

Other

Estimated

Change

Estimated

Change

Minimum

Maximum

Estimated

Change

Minimum

Maximum

Estimated

Change

Minimum

Maximum

Estimated

Change

Minimum

Maximum

Acquisitions

Number of business acquired

Value of common units issued

$5,300,000

Cash paid, net of cash acquired

67,800,000

Common units issued

175,211

Estimated fair values of the assets acquired and liabilities assumed

Accounts receivable - trade

1,221,000

1,235,000

-14,000

Inventories

1,021,000

Prepaid expenses and other current assets

58,000

54,000

4,000

Property, plant and equipment

2,980,000

2,977,000

3,000

58,000

280,000

-222,000

3,822,000

3,462,000

360,000

20,065,000

57,000

53,000

4,000

Useful life of property, plant and equipment

'3 years

'40 years

'2 years

'40 years

'5 years

'10 years

'5 years

'30 years

'2 years

'30 years

'20 years

'3 years

'5 years

Intangible assets

13,300,000

6,300,000

7,000,000

35,000

530,000

Useful life of intangible assets

'3 years

Goodwill

1,170,490,000

1,107,006,000

30,730,000

37,867,000

-7,137,000

Accounts payable - trade

-521,000

-665,000

144,000

Accrued expenses and other payables

-266,000

-124,000

-142,000

Fair value of net assets acquired

$73,090,000

Acquisitions_Details_8

Acquisitions (Details 8) (USD $)	6 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Mar. 31, 2014
	item	item
Retail propane	'	'
Acquisitions	'	'
Number of business combination agreements	3	4
Cash paid	$6.40	'
Retail propane and liquids	'	'
Acquisitions	'	'
Cash paid	'	21.9
Natural gas liquids terminals	'	'
Acquisitions	'	'
Number of business combination agreements	'	4

Property_Plant_and_Equipment_D

Property, Plant and Equipment (Details) (USD $)	3 Months Ended		6 Months Ended
Property, Plant and Equipment (Details) (USD $)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Mar. 31, 2014
Property, Plant and Equipment	'	'	'	'	'
Property, plant and equipment, gross	$1,586,370,000	'	$1,586,370,000	'	$938,910,000
Less: Accumulated depreciation	-153,057,000	'	-153,057,000	'	-109,564,000
Net property, plant and equipment	1,433,313,000	'	1,433,313,000	'	829,346,000
Depreciation expense	28,400,000	13,700,000	46,900,000	27,200,000	'
Natural gas liquids terminal assets	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Property, plant and equipment, gross	127,258,000	'	127,258,000	'	75,141,000
Natural gas liquids terminal assets \| Minimum	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Useful life	'	'	'2 years	'	'
Natural gas liquids terminal assets \| Maximum	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Useful life	'	'	'30 years	'	'
Refined products and renewables terminal assets and equipment	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Useful life	'	'	'20 years	'	'
Property, plant and equipment, gross	419,411,000	'	419,411,000	'	'
Retail propane equipment	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Property, plant and equipment, gross	167,825,000	'	167,825,000	'	160,758,000
Retail propane equipment \| Minimum	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Useful life	'	'	'2 years	'	'
Retail propane equipment \| Maximum	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Useful life	'	'	'30 years	'	'
Vehicles and railcars	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Property, plant and equipment, gross	172,799,000	'	172,799,000	'	152,676,000
Vehicles and railcars \| Minimum	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Useful life	'	'	'3 years	'	'
Vehicles and railcars \| Maximum	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Useful life	'	'	'25 years	'	'
Water treatment facilities and equipment	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Property, plant and equipment, gross	209,644,000	'	209,644,000	'	180,985,000
Water treatment facilities and equipment \| Minimum	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Useful life	'	'	'3 years	'	'
Water treatment facilities and equipment \| Maximum	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Useful life	'	'	'30 years	'	'
Crude oil tanks and related equipment	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Property, plant and equipment, gross	145,287,000	'	145,287,000	'	106,125,000
Crude oil tanks and related equipment \| Minimum	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Useful life	'	'	'2 years	'	'
Crude oil tanks and related equipment \| Maximum	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Useful life	'	'	'40 years	'	'
Barges and towboats	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Property, plant and equipment, gross	56,094,000	'	56,094,000	'	52,217,000
Barges and towboats \| Minimum	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Useful life	'	'	'5 years	'	'
Barges and towboats \| Maximum	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Useful life	'	'	'40 years	'	'
Information technology equipment	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Property, plant and equipment, gross	30,519,000	'	30,519,000	'	20,768,000
Information technology equipment \| Minimum	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Useful life	'	'	'3 years	'	'
Information technology equipment \| Maximum	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Useful life	'	'	'7 years	'	'
Buildings and leasehold improvements	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Property, plant and equipment, gross	77,415,000	'	77,415,000	'	60,004,000
Buildings and leasehold improvements \| Minimum	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Useful life	'	'	'3 years	'	'
Buildings and leasehold improvements \| Maximum	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Useful life	'	'	'40 years	'	'
Land	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Property, plant and equipment, gross	88,350,000	'	88,350,000	'	30,241,000
Tank bottoms	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Property, plant and equipment, gross	17,679,000	'	17,679,000	'	13,403,000
Volume of property, plant and equipment (in barrels)	185,000	'	185,000	'	'
Other	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Property, plant and equipment, gross	16,770,000	'	16,770,000	'	6,341,000
Other \| Minimum	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Useful life	'	'	'3 years	'	'
Other \| Maximum	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Useful life	'	'	'30 years	'	'
Construction in progress	'	'	'	'	'
Property, Plant and Equipment	'	'	'	'	'
Property, plant and equipment, gross	$57,319,000	'	$57,319,000	'	$80,251,000

Goodwill_and_Intangible_Assets2

Goodwill and Intangible Assets (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Goodwill	'
Goodwill at the beginning of the period	$1,107,006
Revisions to acquisition accounting (Note 4)	-21,614
Acquisitions (Note 4)	86,895
Disposal	-1,797
Goodwill at the end of the period	$1,170,490

Goodwill_and_Intangible_Assets3

Goodwill and Intangible Assets (Details 2) (USD $)	Sep. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified	Sep. 30, 2014	Mar. 31, 2014
Goodwill by segment	'	'
Goodwill	$1,170,490	$1,107,006
Crude oil logistics	'	'
Goodwill by segment	'	'
Goodwill	579,845	606,383
Water solutions	'	'
Goodwill by segment	'	'
Goodwill	320,106	262,203
Liquids	'	'
Goodwill by segment	'	'
Goodwill	91,135	90,135
Retail propane	'	'
Goodwill by segment	'	'
Goodwill	114,285	114,285
Refined products and renewables	'	'
Goodwill by segment	'	'
Goodwill	$65,119	$34,000

Goodwill_and_Intangible_Assets4

Goodwill and Intangible Assets (Details 3) (USD $)	6 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Mar. 31, 2014
Amortizable	'	'
Gross Carrying Amount	976,952	809,064
Accumulated Amortization	166,484	116,728
Non-Amortizable	'	'
Gross carrying amount of intangible assets	1,004,572	831,684
Trade names	'	'
Non-Amortizable	'	'
Gross Carrying Amount	27,620	22,620
Customer relationships	'	'
Amortizable	'	'
Gross Carrying Amount	761,992	697,405
Accumulated Amortization	119,439	83,261
Customer relationships \| Minimum	'	'
Amortizable	'	'
Useful Lives	'3 years	'3 years
Customer relationships \| Maximum	'	'
Amortizable	'	'
Useful Lives	'20 years	'20 years
Customer relationships \| Weighted average	'	'
Amortizable	'	'
Useful Lives	'9 years	'
Pipeline capacity rights	'	'
Amortizable	'	'
Gross Carrying Amount	94,800	'
Accumulated Amortization	942	'
Useful Lives	'30 years	'30 years
Water facility development agreement	'	'
Amortizable	'	'
Gross Carrying Amount	14,000	14,000
Accumulated Amortization	3,500	2,100
Useful Lives	'5 years	'5 years
Executory contracts and other agreements	'	'
Amortizable	'	'
Gross Carrying Amount	23,920	23,920
Accumulated Amortization	16,367	13,190
Executory contracts and other agreements \| Minimum	'	'
Amortizable	'	'
Useful Lives	'5 years	'
Executory contracts and other agreements \| Maximum	'	'
Amortizable	'	'
Useful Lives	'10 years	'
Non-compete agreements	'	'
Amortizable	'	'
Gross Carrying Amount	14,412	14,161
Accumulated Amortization	8,302	6,388
Non-compete agreements \| Minimum	'	'
Amortizable	'	'
Useful Lives	'2 years	'2 years
Non-compete agreements \| Maximum	'	'
Amortizable	'	'
Useful Lives	'7 years	'7 years
Trade names	'	'
Amortizable	'	'
Gross Carrying Amount	14,539	15,489
Accumulated Amortization	5,197	3,081
Trade names \| Minimum	'	'
Amortizable	'	'
Useful Lives	'2 years	'2 years
Trade names \| Maximum	'	'
Amortizable	'	'
Useful Lives	'10 years	'10 years
Debt issuance costs	'	'
Amortizable	'	'
Gross Carrying Amount	53,289	44,089
Accumulated Amortization	12,737	8,708
Debt issuance costs \| Minimum	'	'
Amortizable	'	'
Useful Lives	'5 years	'5 years
Debt issuance costs \| Maximum	'	'
Amortizable	'	'
Useful Lives	'10 years	'10 years

Goodwill_and_Intangible_Assets5

Goodwill and Intangible Assets (Details 4) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Amortization related to intangible assets	'	'	'	'
Amortization expense	$25,812	$13,338	$50,754	$24,636
Future amortization expense of intangible assets	'	'	'	'
2015 (six months)	50,570	'	50,570	'
2016	97,432	'	97,432	'
2017	90,795	'	90,795	'
2018	86,818	'	86,818	'
2019	79,587	'	79,587	'
Thereafter	405,266	'	405,266	'
Total	810,468	'	810,468	'
Depreciation and amortization	'	'	'	'
Amortization related to intangible assets	'	'	'	'
Amortization expense	21,711	11,324	42,604	20,600
Cost of sales	'	'	'	'
Amortization related to intangible assets	'	'	'	'
Amortization expense	1,984	949	4,121	1,574
Interest expense	'	'	'	'
Amortization related to intangible assets	'	'	'	'
Amortization expense	$2,117	$1,065	$4,029	$2,462

LongTerm_Debt_Details

Long-Term Debt (Details) (USD $)

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2013

Mar. 31, 2013

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Jul. 09, 2014

Sep. 30, 2014

Oct. 16, 2013

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Jun. 19, 2012

Sep. 30, 2014

Mar. 31, 2014

Oct. 16, 2013

BOSTCO

TLP

Revolving Credit Facility

5.125% Senior Notes due 2019

6.875% Notes due 2021

6.650% Notes due 2022

Other long-term debt

Notes Due 2021

Credit Facility

Minimum

Maximum

Alternate base rate

LIBOR rate

Expansion Capital Facility

Working Capital Facility

Letters of credit

Minimum

Maximum

BOSTCO

Alternate base rate

LIBOR rate

Minimum

Maximum

Minimum

Maximum

LIBOR rate

Maximum

Minimum

Maximum

Minimum

Maximum

Long-Term Debt

Total debt

$2,442,413,000

$1,636,914,000

$252,000,000

$137,000,000

$532,500,000

$942,500,000

$389,500,000

$400,000,000

$450,000,000

$250,000,000

$10,913,000

$14,914,000

Less - current maturities

5,062,000

7,080,000

Long-term debt

2,437,351,000

1,629,834,000

252,000,000

Maximum borrowing capacity

350,000,000

858,000,000

1,335,000,000

Outstanding cash borrowings

252,000,000

1,100,000,000

137,000,000

942,500,000

Outstanding letters of credit

209,200,000

Variable interest rate base

'base rate

'LIBOR

'base rate

'LIBOR

Interest rate margin added to variable rate base (as a percent)

1.00%

2.00%

3.00%

0.50%

1.50%

1.75%

1.50%

2.50%

Reference rate (as a percent)

0.16%

Commitment fees charged on unused credit (as a percent)

0.38%

0.50%

0.38%

0.50%

Fixed interest rate (as a percent)

1.91%

2.00%

5.13%

6.88%

6.65%

6.88%

Debt covenant terms, default trigger amount

10,000,000

Percentage of aggregate principal amount held by trustee or holders to declare notes due and payable

51.00%

Leverage ratio

4.75

4.25

Actual leverage ratio

3.4

Interest coverage ratio

2.75

Actual interest coverage ratio

4.8

Debt issued

400,000,000

450,000,000

250,000,000

Repayments in semi-annual installments

25,000,000

Liquidated damages amount per month

100,000

Interest rate (as a percent)

1.91%

0.00%

Net proceeds after underwriting fees and estimated offering costs

393,500,000

438,400,000

Initial purchase discount

6,000,000

10,100,000

Estimated offering costs

500,000

1,500,000

Consolidated EBITDA

4.75

Maximum borrowing capacity as multiplier of consolidated EBITDA

352,900,000

Acquisitions that can be made as percentage of consolidated net tangible assets and permitted JV investments

5.00%

Permitted JV investments

225,000,000

Additional Permitted JV investments

75,000,000

Leverage ratio, in the event of issuance of senior unsecured notes

3.75

Summary of assets and liabilities

Cash and cash equivalents

11,823,000

10,440,000

5,528,000

11,561,000

726,000

Accounts receivable - trade net

1,433,117,000

900,904,000

12,252,000

Accounts receivable - affiliates

41,706,000

7,445,000

1,105,000

Inventories

941,589,000

310,160,000

1,613,000

Prepaid expenses and other current assets

156,818,000

80,350,000

1,363,000

Property, plant and equipment, net

1,433,313,000

829,346,000

504,272,000

Goodwill

1,170,490,000

1,107,006,000

29,118,000

Intangible assets, net

838,088,000

714,956,000

38,571,000

Investments in unconsolidated entities

482,644,000

189,821,000

244,092,000

268,410,000

Other noncurrent assets

42,091,000

16,795,000

1,910,000

Accounts payable - trade

-1,345,024,000

-740,211,000

-4,009,000

Accounts payable - affiliates

-85,307,000

-76,846,000

-146,000

Accrued expenses and other payables

-218,482,000

-141,690,000

-11,625,000

Advance payments received from customers

-106,105,000

-29,965,000

-141,000

Long-term debt

-2,437,351,000

-1,629,834,000

-252,000,000

Other noncurrent liabilities

-39,518,000

-9,744,000

-4,247,000

NET ASSETS

$587,172,000

LongTerm_Debt_Details_2

Long-Term Debt (Details 2) (USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified	Sep. 30, 2014
Maturities	'
2015 (six months)	$2,345
2016	255,128
2017	2,362
2018	26,459
2019	1,130,938
Thereafter	1,025,181
Total long-term debt	2,442,413
TLP \| Credit Facility	'
Maturities	'
2016	252,000
Total long-term debt	252,000
Revolving Credit Facility	'
Maturities	'
2019	1,079,500
Total long-term debt	1,079,500
2019 Notes	'
Maturities	'
Thereafter	400,000
Total long-term debt	400,000
2021 Notes	'
Maturities	'
Thereafter	450,000
Total long-term debt	450,000
2022 notes	'
Maturities	'
2018	25,000
2019	50,000
Thereafter	175,000
Total long-term debt	250,000
Other long-term debt	'
Maturities	'
2015 (six months)	2,345
2016	3,128
2017	2,362
2018	1,459
2019	1,438
Thereafter	181
Total long-term debt	$10,913

Income_Taxes_Details

Income Taxes (Details) (USD $)	6 Months Ended
Income Taxes (Details) (USD $)	Sep. 30, 2014
Income Taxes	'
Minimum percentage of qualifying income of non-taxable subsidiaries	90.00%
Uncertain tax positions	$0

Commitments_and_Contingencies_1

Commitments and Contingencies (Details ) (USD $)	3 Months Ended		6 Months Ended
Commitments and Contingencies (Details ) (USD $)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Asset retirement obligations	'	'	'	'
Asset retirement obligations	$2,700,000	'	$2,700,000	'
Future minimum lease payments	'	'	'	'
2015 (six months)	71,007,000	'	71,007,000	'
2016	106,384,000	'	106,384,000	'
2017	88,666,000	'	88,666,000	'
2018	74,265,000	'	74,265,000	'
2019	49,907,000	'	49,907,000	'
Thereafter	117,125,000	'	117,125,000	'
Total	507,354,000	'	507,354,000	'
Rental expense	$29,300,000	$23,600,000	$54,600,000	$45,500,000

Commitments_and_Contingencies_2

Commitments and Contingencies (Details 2) (Pipeline Capacity Agreements, USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified	Sep. 30, 2014
Pipeline Capacity Agreements	'
Pipeline Capacity Agreements	'
2015 (six months)	$41,822
2016	95,050
2017	82,916
2018	62,565
2019	51,278
Thereafter	107,537
Total	$441,168

Commitments_and_Contingencies_3

Commitments and Contingencies (Details 3) (USD $)	Sep. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified	Sep. 30, 2014	Mar. 31, 2014
Commodity contracts	'	'
Sales and purchase contracts for natural gas liquids and crude oil	'	'
Net asset (liability)	$42,659	$8,490
Prepaid expenses and other current assets	'	'
Sales and purchase contracts for natural gas liquids and crude oil	'	'
Net asset (liability)	44,400	'
Prepaid expenses and other current assets \| Commodity contracts	'	'
Sales and purchase contracts for natural gas liquids and crude oil	'	'
Net asset (liability)	81,682	50,704
Accrued expenses and other payables	'	'
Sales and purchase contracts for natural gas liquids and crude oil	'	'
Net asset (liability)	36,300	'
Accrued expenses and other payables \| Commodity contracts	'	'
Sales and purchase contracts for natural gas liquids and crude oil	'	'
Net asset (liability)	-39,023	-42,214
Natural gas liquids	'	'
Sales and purchase contracts for natural gas liquids and crude oil	'	'
Fixed-price purchase commitments (in gallons)	88,574,000	'
Index-price purchase commitments (in gallons)	528,459,000	'
Fixed-price sale commitments (in gallons/barrels)	278,391,000	'
Index-price sale commitments (in gallons/barrels)	370,639,000	'
Fixed-price purchase commitments	102,000	'
Index-price purchase commitments	601,719	'
Fixed-price sale commitments	351,137	'
Index-price sale commitments	512,900	'
Crude oil	'	'
Sales and purchase contracts for natural gas liquids and crude oil	'	'
Fixed-price sale commitments (in gallons/barrels)	32,000	'
Index-price sale commitments (in gallons/barrels)	3,920,000	'
Index-price purchase commitments (in barrels)	4,437,000	'
Index-price purchase commitments	383,153	'
Fixed-price sale commitments	2,867	'
Index-price sale commitments	$337,528	'

Equity_Details

Equity (Details) (USD $)	6 Months Ended		12 Months Ended	0 Months Ended	1 Months Ended	6 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Mar. 31, 2014	Jun. 23, 2014	Jul. 31, 2014	Sep. 30, 2014
	Sep. 30, 2014	Sep. 30, 2013	Mar. 31, 2014	Common Units	Common Units	Subordinated Units
Partnership equity	'	'	'	'	'	'
General partner, interest (as a percent)	0.10%	'	0.10%	'	'	'
Limited partners, interest (as a percent)	99.90%	'	99.90%	'	'	'
Partnership Equity	'	'	'	'	'	'
Subordinated units, conversion ratio	'	'	'	'	'	1
Initial Public Offering	'	'	'	'	'	'
Number of units sold in public offering	'	'	'	8,000,000	'	'
Units issued as a result of option exercised by underwriters	'	'	'	'	767,100	'
Proceeds from sale of common units, net of offering costs	$370,446,000	$415,089,000	'	$338,000,000	$32,400,000	'
Underwriting discounts and commissions	'	'	'	12,300,000	'	'
Offering costs	'	'	'	$500,000	'	'

Equity_Details_2

Equity (Details 2) (USD $)

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

1 Months Ended

6 Months Ended

In Millions, except Per Share data, unless otherwise specified

Sep. 30, 2014

Oct. 31, 2014

Sep. 30, 2014

TLP

Subsequent event

Minimum

First target distribution

Second target distribution

Third target distribution

Thereafter

Limited Partners

General Partner

TLP

Minimum

Maximum

Minimum

Maximum

Minimum

Maximum

Minimum

TLP

Common Units

Subordinated Units

First target distribution

Second target distribution

Third target distribution

Thereafter

TLP

Notional units

First target distribution

Second target distribution

Third target distribution

Thereafter

TLP

Distributions to Owners

Third level cash distribution percentage to general partner

0.10%

Distributions

Total Quarterly Distribution per Unit (in dollars per unit)

$0.34

$0.40

$0.34

$0.40

$0.39

$0.44

$0.39

$0.44

$0.42

$0.50

$0.42

$0.50

$0.51

$0.60

$0.51

$0.60

Marginal Percentage Interest In Distributions

99.90%

98.00%

99.90%

98.00%

86.90%

85.00%

76.90%

75.00%

51.90%

50.00%

0.10%

2.00%

0.10%

2.00%

13.10%

15.00%

23.10%

25.00%

48.10%

50.00%

Total distributions

$61.50

Total distributions (in dollars per unit)

$0.59

Incentive distribution to general partner

9.5

Distribution declared per unit (in dollars per unit)

$0.67

$0.61

$0.67

$0.59

Amount of distribution declared

8.7

Amount per unit (in dollars per unit)

$0.67

Amount Paid to Limited Partner

$8.70

Equity_Details_3

Equity (Details 3) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Equity-Based Incentive Compensation	'	'	'	'
Amount of withholding taxes paid on behalf of recipient	'	'	$9,901	'
Rollforward of the liability related to equity-based compensation	'	'	'	'
Balance at the beginning of the period	'	'	10,012	'
Expense recorded	'	'	21,659	'
Value of units vested and issued	'	'	-18,763	'
Taxes paid on behalf of participants	'	'	-9,901	'
Balance at the end of the period	3,007	'	3,007	'
Maximum number of shares that may be issued as a percentage of outstanding common units	'	'	10.00%	'
Incremental amount that the maximum units deliverable may automatically increase under the plan, expressed as a percentage of issued and outstanding common units	'	'	10.00%	'
Estimated	'	'	'	'
Equity-Based Incentive Compensation	'	'	'	'
Estimate of forfeiture of unvested awards	'	'	80,000	'
Restricted units	'	'	'	'
Equity-Based Incentive Compensation	'	'	'	'
Distributions on restricted units during the vesting period	'	'	0	'
Unvested restricted units at the beginning of the period (in shares)	'	'	1,311,100	'
Units granted (in shares)	'	'	333,903	'
Units vested and issued (in shares)	'	'	-438,009	'
Units withheld for employee taxes (in shares)	'	'	-231,194	'
Units forfeited (in shares)	'	'	-117,000	'
Unvested restricted units at the end of the period (in shares)	858,800	'	858,800	'
Number of awards vested	'	'	858,800	'
Closing price (in dollars per share)	$39.37	'	$39.37	'
Estimated stock-based compensation expense	'	'	'	'
2015 (six months)	'	'	6,343	'
2016	'	'	11,516	'
2017	'	'	7,262	'
2018	'	'	2,237	'
2019	'	'	249	'
Total	'	'	27,607	'
Rollforward of the liability related to equity-based compensation	'	'	'	'
Expense recorded	$13,800	$3,200	$21,700	$10,300
Weighted-average grant date fair value of the awards (in dollars per unit)	$35.16	'	$35.16	'
Number of units available for issuance under the Long-Term Incentive Plan	7,100,000	'	7,100,000	'
Restricted units \| July 1, 2015	'	'	'	'
Equity-Based Incentive Compensation	'	'	'	'
Number of awards vested	'	'	334,800	'
Restricted units \| July 1, 2016	'	'	'	'
Equity-Based Incentive Compensation	'	'	'	'
Number of awards vested	'	'	314,000	'
Restricted units \| July 1, 2017	'	'	'	'
Equity-Based Incentive Compensation	'	'	'	'
Number of awards vested	'	'	178,500	'
Restricted units \| July 1, 2018	'	'	'	'
Equity-Based Incentive Compensation	'	'	'	'
Number of awards vested	'	'	31,500	'

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments (Details) (USD $)	Sep. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified	Sep. 30, 2014	Mar. 31, 2014
Prepaid expenses and other current assets	'	'
Derivative assets (liabilities)	'	'
Net asset	$44,400	'
Accrued expenses and other payables	'	'
Derivative assets (liabilities)	'	'
Net asset	36,300	'
Commodity derivatives	'	'
Derivative assets (liabilities)	'	'
Net asset	42,659	8,490
Commodity derivatives \| Prepaid expenses and other current assets	'	'
Derivative assets (liabilities)	'	'
Net asset	81,682	50,704
Commodity derivatives \| Accrued expenses and other payables	'	'
Derivative assets (liabilities)	'	'
Net asset	-39,023	-42,214
Recurring \| Commodity derivatives	'	'
Assets:	'	'
Derivative Assets	100,021	54,595
Liabilities:	'	'
Derivative Liabilities	-43,658	-46,561
Netting of counterparty contracts, assets	-4,635	-4,347
Netting of counterparty contracts, liabilities	4,635	4,347
Cash collateral held, assets	-13,704	456
Commodity derivatives reported on condensed consolidated balance sheet, assets	81,682	50,704
Commodity derivatives reported on condensed consolidated balance sheet, liabilities	-39,023	-42,214
Recurring \| Level 1 \| Commodity derivatives	'	'
Assets:	'	'
Derivative Assets	48,632	4,990
Liabilities:	'	'
Derivative Liabilities	-5,378	-3,258
Recurring \| Level 2 \| Commodity derivatives	'	'
Assets:	'	'
Derivative Assets	51,389	49,605
Liabilities:	'	'
Derivative Liabilities	($38,280)	($43,303)

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments (Details 2) (USD $)

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

In Thousands, unless otherwise specified

Cross-commodity

Crude oil fixed-price

Crude oil index

Propane fixed-price

Refined products fixed-price

Renewable products

Other

Commodity contracts

bbl

Derivative contract information

Total Notional Units (Barrels)

-12,000

140,000

-1,638,000

-1,600,000

2,195,000

3,598,000

1,238,000

60,000

-4,475,000

732,000

-14,000

106,000

Fair Value of Net Assets (Liabilities)

$56,363

$8,034

($1,283)

($1,876)

$9,380

($2,796)

$4,397

$6,099

$53

$1,753

$38,712

$560

$5,104

$4,084

$210

Net cash collateral held

-13,704

456

Net fair value of commodity derivatives on condensed consolidated balance sheet

42,659

8,490

Net gains (losses) on derivatives

$55,981

($10,672)

$38,496

($17,881)

Fair_Value_of_Financial_Instru4

Fair Value of Financial Instruments (Details 3) (USD $)	6 Months Ended
Fair Value of Financial Instruments (Details 3) (USD $)	Sep. 30, 2014
TLP \| Credit Facility	'
Interest Rate Risk	'
Outstanding debt	$252,000,000
Revolving Credit Facility	'
Interest Rate Risk	'
Outstanding debt	1,100,000,000
Interest rate (as a percent)	1.91%
Interest Rate Risk \| TLP \| Credit Facility	'
Interest Rate Risk	'
Outstanding debt	252,000,000
Interest rate (as a percent)	2.66%
Change in interest rate that would result in an increase or decrease of annual interest expense (as a percent)	0.13%
Increase or decrease in annual interest expense	300,000
Interest Rate Risk \| Variable Rate Debt	'
Interest Rate Risk	'
Change in interest rate that would result in an increase or decrease of annual interest expense (as a percent)	0.13%
Increase or decrease in annual interest expense	$1,300,000

Fair_Value_of_Financial_Instru5

Fair Value of Financial Instruments (Details 4) (USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified	Sep. 30, 2014
5.125% Senior Notes due 2019	'
Fair Value of Fixed - Rate Notes	'
Fair value of Fixed - Rate Notes	$390,000
6.875% Notes due 2021	'
Fair Value of Fixed - Rate Notes	'
Fair value of Fixed - Rate Notes	475,000
6.650% Notes due 2022	'
Fair Value of Fixed - Rate Notes	'
Fair value of Fixed - Rate Notes	$275,000

Segments_Details

Segments (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Mar. 31, 2014
Segment information	'	'	'	'	'
Revenues	$5,380,526	$1,593,937	$9,029,140	$2,979,894	'
Depreciation and amortization	50,099	25,061	89,474	47,785	'
Operating income (loss)	7,770	9,945	-12,785	2,603	'
Additions to property, plant and equipment	605,642	111,781	660,509	146,298	'
Total assets	6,551,679	'	6,551,679	'	4,167,223
Long-lived assets, net	3,441,891	'	3,441,891	'	2,651,308
Crude oil logistics	'	'	'	'	'
Segment information	'	'	'	'	'
Depreciation and amortization	9,240	3,330	18,971	8,014	'
Operating income (loss)	38	5,884	1,501	12,493	'
Additions to property, plant and equipment	39,464	31,336	81,413	35,462	'
Total assets	2,079,380	'	2,079,380	'	1,723,812
Long-lived assets, net	996,615	'	996,615	'	980,978
Water solutions	'	'	'	'	'
Segment information	'	'	'	'	'
Depreciation and amortization	17,573	11,438	34,665	18,794	'
Operating income (loss)	14,792	2,913	13,885	5,956	'
Additions to property, plant and equipment	40,610	62,473	48,072	70,182	'
Total assets	964,336	'	964,336	'	875,714
Long-lived assets, net	910,467	'	910,467	'	848,479
Liquids	'	'	'	'	'
Segment information	'	'	'	'	'
Depreciation and amortization	3,384	2,672	6,585	5,376	'
Operating income (loss)	10,929	14,605	10,016	12,490	'
Additions to property, plant and equipment	1,911	13,209	3,070	28,316	'
Total assets	756,133	'	756,133	'	577,795
Long-lived assets, net	271,567	'	271,567	'	274,846
Retail propane	'	'	'	'	'
Segment information	'	'	'	'	'
Number of operating divisions	'	'	2	'	'
Depreciation and amortization	7,684	6,871	15,255	14,111	'
Operating income (loss)	-3,062	-4,520	-4,648	-6,024	'
Additions to property, plant and equipment	9,567	4,546	12,441	11,492	'
Total assets	506,958	'	506,958	'	541,832
Long-lived assets, net	436,621	'	436,621	'	438,324
Refined products and renewables	'	'	'	'	'
Segment information	'	'	'	'	'
Depreciation and amortization	11,917	'	12,761	'	'
Operating income (loss)	8,822	'	7,567	'	'
Additions to property, plant and equipment	512,281	'	512,281	'	'
Total assets	2,183,674	'	2,183,674	'	303,230
Long-lived assets, net	772,916	'	772,916	'	60,720
Corporate and other	'	'	'	'	'
Segment information	'	'	'	'	'
Depreciation and amortization	301	750	1,237	1,490	'
Operating income (loss)	-23,749	-8,937	-41,106	-22,312	'
Additions to property, plant and equipment	1,809	217	3,262	846	'
Total assets	61,198	'	61,198	'	144,840
Long-lived assets, net	53,705	'	53,705	'	47,961
Operating segment \| Crude oil logistics \| Crude oil sales	'	'	'	'	'
Segment information	'	'	'	'	'
Revenues	2,108,117	1,013,061	4,035,061	1,941,595	'
Operating segment \| Crude oil logistics \| Crude oil transportation and other	'	'	'	'	'
Segment information	'	'	'	'	'
Revenues	13,082	9,794	25,196	19,729	'
Operating segment \| Water solutions \| Water treatment and disposal	'	'	'	'	'
Segment information	'	'	'	'	'
Revenues	47,572	28,823	89,288	47,511	'
Operating segment \| Water solutions \| Water transportation	'	'	'	'	'
Segment information	'	'	'	'	'
Revenues	5,147	5,367	10,745	7,192	'
Operating segment \| Liquids \| Propane sales	'	'	'	'	'
Segment information	'	'	'	'	'
Revenues	240,433	191,437	462,879	315,274	'
Operating segment \| Liquids \| Other product sales	'	'	'	'	'
Segment information	'	'	'	'	'
Revenues	306,625	308,606	594,984	558,459	'
Operating segment \| Liquids \| Other revenues	'	'	'	'	'
Segment information	'	'	'	'	'
Revenues	6,814	9,250	12,530	18,114	'
Operating segment \| Retail propane \| Propane sales	'	'	'	'	'
Segment information	'	'	'	'	'
Revenues	48,552	40,651	100,578	87,342	'
Operating segment \| Retail propane \| Distillate sales	'	'	'	'	'
Segment information	'	'	'	'	'
Revenues	11,530	10,562	30,255	28,431	'
Operating segment \| Retail propane \| Other revenues	'	'	'	'	'
Segment information	'	'	'	'	'
Revenues	8,276	8,198	15,457	15,898	'
Operating segment \| Refined products and renewables \| Refined products sales	'	'	'	'	'
Segment information	'	'	'	'	'
Revenues	2,489,795	'	3,476,018	'	'
Operating segment \| Refined products and renewables \| Renewables sales	'	'	'	'	'
Segment information	'	'	'	'	'
Revenues	117,425	'	248,699	'	'
Operating segment \| Corporate and other	'	'	'	'	'
Segment information	'	'	'	'	'
Revenues	1,333	1,485	2,794	2,959	'
Elimination of intersegment sales	'	'	'	'	'
Segment information	'	'	'	'	'
Revenues	($24,175)	($33,297)	($75,314)	($62,610)	'

Transactions_with_Affiliates_D

Transactions with Affiliates (Details) (USD $)	3 Months Ended		6 Months Ended
Transactions with Affiliates (Details) (USD $)	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Mar. 31, 2014
Transactions with Affiliates	'	'	'	'	'
Receivables from affiliates	$41,706,000	'	$41,706,000	'	$7,445,000
Payables to related parties	85,307,000	'	85,307,000	'	76,846,000
SemGroup	'	'	'	'	'
Transactions with Affiliates	'	'	'	'	'
Sales to related party	43,427,000	3,780,000	117,233,000	3,780,000	'
Purchase from related parties	45,730,000	28,377,000	118,997,000	47,916,000	'
Receivables from affiliates	39,331,000	'	39,331,000	'	7,303,000
Payables to related parties	44,015,000	'	44,015,000	'	27,738,000
Equity method investee	'	'	'	'	'
Transactions with Affiliates	'	'	'	'	'
Sales to related party	9,131,000	'	9,131,000	'	'
Purchase from related parties	34,689,000	'	70,965,000	'	'
Receivables from affiliates	670,000	'	670,000	'	'
Payables to related parties	39,549,000	'	39,549,000	'	48,454,000
Entities affiliated with management	'	'	'	'	'
Transactions with Affiliates	'	'	'	'	'
Increase in property, plant and equipment	'	'	5,800,000	'	'
Sales to related party	1,706,000	58,769,000	1,854,000	109,872,000	'
Purchase from related parties	3,845,000	48,522,000	6,984,000	56,346,000	'
Receivables from affiliates	1,705,000	'	1,705,000	'	142,000
Payables to related parties	$1,743,000	'	$1,743,000	'	$654,000

Condensed_Consolidating_Guaran2

Condensed Consolidating Guarantor and Non-Guarantor Financial Information (Details) (Guarantor Subsidiaries, USD $)	Sep. 30, 2014
Guarantor Subsidiaries	'
Condensed consolidating financial information	'
Restricted net assets	$0

Condensed_Consolidating_Guaran3

Condensed Consolidating Guarantor and Non-Guarantor Financial Information (Details 2) (USD $)	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2013	Mar. 31, 2013
CURRENT ASSETS:	'	'	'	'
Cash and cash equivalents	$11,823	$10,440	$5,528	$11,561
Accounts receivable - trade, net of allowance for doubtful accounts	1,433,117	900,904	'	'
Accounts receivable - affiliates	41,706	7,445	'	'
Inventories	941,589	310,160	'	'
Prepaid expenses and other current assets	156,818	80,350	'	'
Total current assets	2,585,053	1,309,299	'	'
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation	1,433,313	829,346	'	'
GOODWILL	1,170,490	1,107,006	'	'
INTANGIBLE ASSETS, net of accumulated amortization	838,088	714,956	'	'
INVESTMENTS IN UNCONSOLIDATED ENTITIES	482,644	189,821	'	'
OTHER NONCURRENT ASSETS	42,091	16,795	'	'
Total assets	6,551,679	4,167,223	'	'
CURRENT LIABILITIES:	'	'	'	'
Accounts payable - trade	1,345,024	740,211	'	'
Accounts payable - affiliates	85,307	76,846	'	'
Accrued expenses and other payables	218,482	141,690	'	'
Advance payments received from customers	106,105	29,965	'	'
Current maturities of long-term debt	5,062	7,080	'	'
Total current liabilities	1,759,980	995,792	'	'
LONG-TERM DEBT, net of current maturities	2,437,351	1,629,834	'	'
OTHER NONCURRENT LIABILITIES	39,518	9,744	'	'
EQUITY	'	'	'	'
Partners' equity (deficit)	1,746,133	1,526,815	'	'
Accumulated other comprehensive loss	-73	-236	'	'
Noncontrolling interests	568,770	5,274	'	'
Total equity	2,314,830	1,531,853	'	'
Total liabilities and equity	6,551,679	4,167,223	'	'
Reportable Entity \| NGL Energy Partners LP (Parent)	'	'	'	'
CURRENT ASSETS:	'	'	'	'
Cash and cash equivalents	2,841	1,181	1,346	'
Total current assets	2,841	1,181	'	'
INTANGIBLE ASSETS, net of accumulated amortization	1,307	1,169	'	'
NET INTERCOMPANY RECEIVABLES (PAYABLES)	248,893	327,281	'	'
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES	1,743,573	1,447,502	'	'
Total assets	1,996,614	1,777,133	'	'
CURRENT LIABILITIES:	'	'	'	'
Accrued expenses and other payables	554	554	'	'
Total current liabilities	554	554	'	'
LONG-TERM DEBT, net of current maturities	250,000	250,000	'	'
EQUITY	'	'	'	'
Partners' equity (deficit)	1,746,060	1,526,579	'	'
Total equity	1,746,060	1,526,579	'	'
Total liabilities and equity	1,996,614	1,777,133	'	'
Reportable Entity \| NGL Energy Finance Corp	'	'	'	'
CURRENT ASSETS:	'	'	'	'
INTANGIBLE ASSETS, net of accumulated amortization	17,619	11,552	'	'
NET INTERCOMPANY RECEIVABLES (PAYABLES)	849,526	437,714	'	'
Total assets	867,145	449,266	'	'
CURRENT LIABILITIES:	'	'	'	'
Accrued expenses and other payables	19,021	14,266	'	'
Total current liabilities	19,021	14,266	'	'
LONG-TERM DEBT, net of current maturities	850,000	450,000	'	'
EQUITY	'	'	'	'
Partners' equity (deficit)	-1,876	-15,000	'	'
Total equity	-1,876	-15,000	'	'
Total liabilities and equity	867,145	449,266	'	'
Reportable Entity \| Guarantor Subsidiaries	'	'	'	'
CURRENT ASSETS:	'	'	'	'
Cash and cash equivalents	7,823	8,728	3,904	11,206
Accounts receivable - trade, net of allowance for doubtful accounts	1,419,442	887,789	'	'
Accounts receivable - affiliates	41,035	7,445	'	'
Inventories	937,814	306,434	'	'
Prepaid expenses and other current assets	155,332	80,294	'	'
Total current assets	2,561,446	1,290,690	'	'
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation	863,694	764,014	'	'
GOODWILL	1,139,374	1,105,008	'	'
INTANGIBLE ASSETS, net of accumulated amortization	778,960	700,603	'	'
INVESTMENTS IN UNCONSOLIDATED ENTITIES	214,234	189,821	'	'
NET INTERCOMPANY RECEIVABLES (PAYABLES)	-1,026,605	-720,737	'	'
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES	10,470	17,673	'	'
OTHER NONCURRENT ASSETS	40,035	16,674	'	'
Total assets	4,581,608	3,363,746	'	'
CURRENT LIABILITIES:	'	'	'	'
Accounts payable - trade	1,333,780	726,252	'	'
Accounts payable - affiliates	85,237	73,703	'	'
Accrued expenses and other payables	186,226	124,923	'	'
Advance payments received from customers	105,597	29,891	'	'
Current maturities of long-term debt	5,004	7,058	'	'
Total current liabilities	1,715,844	961,827	'	'
LONG-TERM DEBT, net of current maturities	1,085,155	929,754	'	'
OTHER NONCURRENT LIABILITIES	35,160	9,663	'	'
EQUITY	'	'	'	'
Partners' equity (deficit)	1,745,450	1,462,691	'	'
Accumulated other comprehensive loss	-1	-189	'	'
Total equity	1,745,449	1,462,502	'	'
Total liabilities and equity	4,581,608	3,363,746	'	'
Reportable Entity \| Non-Guarantor Subsidiaries	'	'	'	'
CURRENT ASSETS:	'	'	'	'
Cash and cash equivalents	1,159	531	278	355
Accounts receivable - trade, net of allowance for doubtful accounts	13,675	13,115	'	'
Accounts receivable - affiliates	671	'	'	'
Inventories	3,775	3,726	'	'
Prepaid expenses and other current assets	1,486	56	'	'
Total current assets	20,766	17,428	'	'
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation	569,619	65,332	'	'
GOODWILL	31,116	1,998	'	'
INTANGIBLE ASSETS, net of accumulated amortization	40,202	1,632	'	'
INVESTMENTS IN UNCONSOLIDATED ENTITIES	268,410	'	'	'
NET INTERCOMPANY RECEIVABLES (PAYABLES)	-71,814	-44,258	'	'
OTHER NONCURRENT ASSETS	2,056	121	'	'
Total assets	860,355	42,253	'	'
CURRENT LIABILITIES:	'	'	'	'
Accounts payable - trade	11,244	13,959	'	'
Accounts payable - affiliates	70	3,143	'	'
Accrued expenses and other payables	12,681	1,947	'	'
Advance payments received from customers	508	74	'	'
Current maturities of long-term debt	58	22	'	'
Total current liabilities	24,561	19,145	'	'
LONG-TERM DEBT, net of current maturities	252,196	80	'	'
OTHER NONCURRENT LIABILITIES	4,358	81	'	'
EQUITY	'	'	'	'
Partners' equity (deficit)	579,312	22,994	'	'
Accumulated other comprehensive loss	-72	-47	'	'
Total equity	579,240	22,947	'	'
Total liabilities and equity	860,355	42,253	'	'
Consolidating Adjustments	'	'	'	'
CURRENT ASSETS:	'	'	'	'
INVESTMENTS IN CONSOLIDATED SUBSIDIARIES	-1,754,043	-1,465,175	'	'
Total assets	-1,754,043	-1,465,175	'	'
EQUITY	'	'	'	'
Partners' equity (deficit)	-2,322,813	-1,470,449	'	'
Noncontrolling interests	568,770	5,274	'	'
Total equity	-1,754,043	-1,465,175	'	'
Total liabilities and equity	($1,754,043)	($1,465,175)	'	'

Condensed_Consolidating_Guaran4

Condensed Consolidating Guarantor and Non-Guarantor Financial Information (Details 3) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Condensed Consolidating Statement of Operations	'	'	'	'
REVENUES	$5,380,526	$1,593,937	$9,029,140	$2,979,894
COST OF SALES	5,179,465	1,488,850	8,713,518	2,791,926
OPERATING COSTS AND EXPENSES:	'	'	'	'
Operating	101,553	55,769	169,421	104,814
General and administrative	41,639	14,312	69,512	32,766
Depreciation and amortization	50,099	25,061	89,474	47,785
Operating Income (Loss)	7,770	9,945	-12,785	2,603
OTHER INCOME (EXPENSE):	'	'	'	'
Earnings of unconsolidated entities	3,697	'	6,262	'
Interest expense	-28,651	-11,060	-49,145	-21,682
Other, net	-617	419	-1,008	469
Loss before Income Taxes	-17,801	-696	-56,676	-18,610
INCOME TAX (PROVISION) BENEFIT	1,922	-236	887	170
Net Loss	-15,879	-932	-55,789	-18,440
LESS: NET INCOME ALLOCATED TO GENERAL PARTNER	-11,056	-2,451	-20,437	-4,139
LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	-3,345	-9	-3,410	-134
NET LOSS ALLOCATED TO LIMITED PARTNERS	-30,280	-3,392	-79,636	-22,713
Reportable Entity \| NGL Energy Partners LP (Parent)	'	'	'	'
OTHER INCOME (EXPENSE):	'	'	'	'
Interest expense	-4,067	-4,179	-8,313	-8,368
Loss before Income Taxes	-4,067	-4,179	-8,313	-8,368
EQUITY IN NET INCOME (LOSS) OF CONSOLIDATED SUBSIDIARIES	-15,157	3,238	-50,886	-10,206
Net Loss	-19,224	-941	-59,199	-18,574
NET LOSS ALLOCATED TO LIMITED PARTNERS	-19,224	-941	-59,199	-18,574
Reportable Entity \| NGL Energy Finance Corp	'	'	'	'
OTHER INCOME (EXPENSE):	'	'	'	'
Interest expense	-13,134	'	-21,280	'
Loss before Income Taxes	-13,134	'	-21,280	'
Net Loss	-13,134	'	-21,280	'
NET LOSS ALLOCATED TO LIMITED PARTNERS	-13,134	'	-21,280	'
Reportable Entity \| Guarantor Subsidiaries	'	'	'	'
Condensed Consolidating Statement of Operations	'	'	'	'
REVENUES	5,325,186	1,546,226	8,952,772	2,914,531
COST OF SALES	5,161,935	1,445,442	8,676,881	2,735,890
OPERATING COSTS AND EXPENSES:	'	'	'	'
Operating	84,300	52,979	150,919	99,710
General and administrative	36,360	14,089	64,124	32,297
Depreciation and amortization	38,999	23,970	77,545	46,000
Operating Income (Loss)	3,592	9,746	-16,697	634
OTHER INCOME (EXPENSE):	'	'	'	'
Earnings of unconsolidated entities	2,310	'	4,875	'
Interest expense	-9,956	-6,880	-18,058	-13,309
Other, net	-524	528	-1,056	627
Loss before Income Taxes	-4,578	3,394	-30,936	-12,048
INCOME TAX (PROVISION) BENEFIT	1,951	-236	993	170
EQUITY IN NET INCOME (LOSS) OF CONSOLIDATED SUBSIDIARIES	604	80	337	1,672
Net Loss	-2,023	3,238	-29,606	-10,206
NET LOSS ALLOCATED TO LIMITED PARTNERS	-2,023	3,238	-29,606	-10,206
Reportable Entity \| Non-Guarantor Subsidiaries	'	'	'	'
Condensed Consolidating Statement of Operations	'	'	'	'
REVENUES	55,364	47,735	76,421	65,421
COST OF SALES	17,554	43,432	36,690	56,094
OPERATING COSTS AND EXPENSES:	'	'	'	'
Operating	17,253	2,790	18,502	5,104
General and administrative	5,279	223	5,388	469
Depreciation and amortization	11,100	1,091	11,929	1,785
Operating Income (Loss)	4,178	199	3,912	1,969
OTHER INCOME (EXPENSE):	'	'	'	'
Earnings of unconsolidated entities	1,387	'	1,387	'
Interest expense	-1,506	-13	-1,517	-28
Other, net	-81	-97	71	-135
Loss before Income Taxes	3,978	89	3,853	1,806
INCOME TAX (PROVISION) BENEFIT	-29	'	-106	'
Net Loss	3,949	89	3,747	1,806
NET LOSS ALLOCATED TO LIMITED PARTNERS	3,949	89	3,747	1,806
Consolidating Adjustments	'	'	'	'
Condensed Consolidating Statement of Operations	'	'	'	'
REVENUES	-24	-24	-53	-58
COST OF SALES	-24	-24	-53	-58
OTHER INCOME (EXPENSE):	'	'	'	'
Interest expense	12	12	23	23
Other, net	-12	-12	-23	-23
EQUITY IN NET INCOME (LOSS) OF CONSOLIDATED SUBSIDIARIES	14,553	-3,318	50,549	8,534
Net Loss	14,553	-3,318	50,549	8,534
LESS: NET INCOME ALLOCATED TO GENERAL PARTNER	-11,056	-2,451	-20,437	-4,139
LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	-3,345	-9	-3,410	-134
NET LOSS ALLOCATED TO LIMITED PARTNERS	$152	($5,778)	$26,702	$4,261

Condensed_Consolidating_Guaran5

Condensed Consolidating Guarantor and Non-Guarantor Financial Information (Details 4) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Condensed Consolidating Statements of Comprehensive Income (Loss)	'	'	'	'
Net income (loss)	($15,879)	($932)	($55,789)	($18,440)
Other comprehensive income (loss)	-22	-5	163	-30
Comprehensive loss	-15,901	-937	-55,626	-18,470
Reportable Entity \| NGL Energy Partners LP (Parent)	'	'	'	'
Condensed Consolidating Statements of Comprehensive Income (Loss)	'	'	'	'
Net income (loss)	-19,224	-941	-59,199	-18,574
Comprehensive loss	-19,224	-941	-59,199	-18,574
Reportable Entity \| NGL Energy Finance Corp	'	'	'	'
Condensed Consolidating Statements of Comprehensive Income (Loss)	'	'	'	'
Net income (loss)	-13,134	'	-21,280	'
Comprehensive loss	-13,134	'	-21,280	'
Reportable Entity \| Guarantor Subsidiaries	'	'	'	'
Condensed Consolidating Statements of Comprehensive Income (Loss)	'	'	'	'
Net income (loss)	-2,023	3,238	-29,606	-10,206
Other comprehensive income (loss)	4	'	189	'
Comprehensive loss	-2,019	3,238	-29,417	-10,206
Reportable Entity \| Non-Guarantor Subsidiaries	'	'	'	'
Condensed Consolidating Statements of Comprehensive Income (Loss)	'	'	'	'
Net income (loss)	3,949	89	3,747	1,806
Other comprehensive income (loss)	-26	-5	-26	-30
Comprehensive loss	3,923	84	3,721	1,776
Consolidating Adjustments	'	'	'	'
Condensed Consolidating Statements of Comprehensive Income (Loss)	'	'	'	'
Net income (loss)	14,553	-3,318	50,549	8,534
Comprehensive loss	$14,553	($3,318)	$50,549	$8,534

Condensed_Consolidating_Guaran6

Condensed Consolidating Guarantor and Non-Guarantor Financial Information (Details 5) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
OPERATING ACTIVITIES:	'	'
Net cash provided by (used in) operating activities	($61,635)	($48,744)
INVESTING ACTIVITIES:	'	'
Purchases of long-lived assets	-82,851	-67,399
Acquisitions of businesses, including acquired working capital, net of cash acquired	-658,764	-392,605
Cash flows from commodity derivatives	4,327	-19,074
Proceeds from sales of assets	8,741	2,224
Investments in unconsolidated entities	-26,390	'
Distributions of capital from unconsolidated entities	4,649	'
Net cash used in investing activities	-750,288	-476,854
FINANCING ACTIVITIES:	'	'
Proceeds from borrowings under revolving credit facilities	1,979,500	1,061,500
Payments on revolving credit facilities	-1,804,000	-893,000
Issuance of notes	400,000	'
Proceeds from borrowings on other long-term debt	'	880
Payments on other long-term debt	-4,175	-4,507
Debt issuance costs	-9,198	-2,218
Contributions	395	2,444
Distributions to owners	-111,008	-60,623
Distributions to noncontrolling interest partners	-8,654	'
Proceeds from sale of common units, net of offering costs	370,446	415,089
Net cash provided by financing activities	813,306	519,565
Net increase (decrease) in cash and cash equivalents	1,383	-6,033
Cash and cash equivalents, beginning of period	10,440	11,561
Cash and cash equivalents, end of period	11,823	5,528
Reportable Entity \| NGL Energy Partners LP (Parent)	'	'
OPERATING ACTIVITIES:	'	'
Net cash provided by (used in) operating activities	-8,180	-8,312
INVESTING ACTIVITIES:	'	'
Acquisitions of businesses, including acquired working capital, net of cash acquired	'	-334,085
Net cash used in investing activities	'	-334,085
FINANCING ACTIVITIES:	'	'
Debt issuance costs	-269	-133
Contributions	395	504
Distributions to owners	-111,008	-60,258
Proceeds from sale of common units, net of offering costs	370,446	415,089
Net changes in advances with consolidated entities	-249,724	-11,459
Net cash provided by financing activities	9,840	343,743
Net increase (decrease) in cash and cash equivalents	1,660	1,346
Cash and cash equivalents, beginning of period	1,181	'
Cash and cash equivalents, end of period	2,841	1,346
Reportable Entity \| NGL Energy Finance Corp	'	'
OPERATING ACTIVITIES:	'	'
Net cash provided by (used in) operating activities	-15,383	'
FINANCING ACTIVITIES:	'	'
Issuance of notes	400,000	'
Debt issuance costs	-7,209	'
Net changes in advances with consolidated entities	-377,408	'
Net cash provided by financing activities	15,383	'
Reportable Entity \| Guarantor Subsidiaries	'	'
OPERATING ACTIVITIES:	'	'
Net cash provided by (used in) operating activities	-56,019	-44,607
INVESTING ACTIVITIES:	'	'
Purchases of long-lived assets	-81,710	-37,180
Acquisitions of businesses, including acquired working capital, net of cash acquired	-657,514	-56,237
Cash flows from commodity derivatives	-4,327	-19,074
Proceeds from sales of assets	8,741	2,223
Investments in unconsolidated entities	-6,106	'
Distributions of capital from unconsolidated entities	2,774	'
Net cash used in investing activities	-729,488	-110,268
FINANCING ACTIVITIES:	'	'
Proceeds from borrowings under revolving credit facilities	1,923,500	1,061,500
Payments on revolving credit facilities	-1,766,000	-893,000
Proceeds from borrowings on other long-term debt	'	780
Payments on other long-term debt	-4,173	-4,499
Debt issuance costs	-1,720	-2,085
Net changes in advances with consolidated entities	632,995	-15,123
Net cash provided by financing activities	784,602	147,573
Net increase (decrease) in cash and cash equivalents	-905	-7,302
Cash and cash equivalents, beginning of period	8,728	11,206
Cash and cash equivalents, end of period	7,823	3,904
Reportable Entity \| Non-Guarantor Subsidiaries	'	'
OPERATING ACTIVITIES:	'	'
Net cash provided by (used in) operating activities	17,947	4,175
INVESTING ACTIVITIES:	'	'
Purchases of long-lived assets	-1,141	-30,219
Acquisitions of businesses, including acquired working capital, net of cash acquired	-1,250	-2,283
Proceeds from sales of assets	'	1
Investments in unconsolidated entities	-20,284	'
Distributions of capital from unconsolidated entities	1,875	'
Net cash used in investing activities	-20,800	-32,501
FINANCING ACTIVITIES:	'	'
Proceeds from borrowings under revolving credit facilities	56,000	'
Payments on revolving credit facilities	-38,000	'
Proceeds from borrowings on other long-term debt	'	100
Payments on other long-term debt	-2	-8
Contributions	'	1,940
Distributions to owners	'	-365
Distributions to noncontrolling interest partners	-8,654	'
Net changes in advances with consolidated entities	-5,863	26,582
Net cash provided by financing activities	3,481	28,249
Net increase (decrease) in cash and cash equivalents	628	-77
Cash and cash equivalents, beginning of period	531	355
Cash and cash equivalents, end of period	$1,159	$278

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	6 Months Ended		1 Months Ended	2 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2014	Nov. 30, 2014	Nov. 30, 2014
	Water Solutions Facility	Subsequent event	Subsequent event	Subsequent event
	item	Sale of natural gas liquids terminals	Water Solutions Facility	Water Solutions Facility
			item	item
Subsequent events	'	'	'	'
Number of water disposal facilities acquired	4	'	5	5
Cash paid for water facilities	$82.90	'	$65	$52.20
Loss on disposal	'	29	'	'
Loss on disposal allocated to property, plant and equipment	'	21	'	'
Loss on disposal allocated to goodwill	'	$8	'	'