NGL director unloads shares for $2.6 million

A director of Tulsa-based NGL Energy Partners LP since 2013, businessman John T. Raymond has sold most of his shares in the company.

The sale was reported to the Securities and Exchange Commission. The filing indicated Raymond, who is also the co-founder of the Energy and Minerals Group based in Houston, Texas sold 176,634 NGL shares.

Each share was valued at $14.88 so the sale value was more than $2.6 million. After the sale, Raymond was left with 50,000 shares of direct ownership.

Raymond is the owner of a handful of energy firms including EMG as well as Lynx Holdings. He sits on the board of directors of Tallgrass GP, Ascent Resources Utica Holdings, LLC, PAA GP Holdings, LLC, Coronado Coal II and Plains all American GP, LLC.