Document

Exhibit 4.43

FIRST SUPPLEMENTAL INDENTURE

TO BE DELIVERED BY SUBSEQUENT GUARANTORS

FIRST SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of March 28, 2022 among NGL SHARED SERVICES, LLC, a Delaware limited liability company (“NGLSS”), NGL SHARED SERVICES HOLDINGS, INC., a Delaware corporation (“NGLSSH”, and together with NGLSS, the “Guaranteeing Subsidiaries”), each a subsidiary (or a permitted successor thereof) of NGL Energy Operating LLC (“NGL LP”), a Delaware limited liability company, or NGL Energy Finance Corp. (“Finance Corp.,” and, together with NGL LP, the “Issuers”), a Delaware corporation, the Issuers, the other Guarantors (as defined in the Indenture referred to herein) and U.S. Bank Trust Company, National Association, as successor trustee and collateral agent under the Indenture referred to below (the “Trustee”).

W I T N E S S E T H

WHEREAS, the Issuers have heretofore executed and delivered to U.S. Bank National Association, as trustee (the “Predecessor Trustee”) under the indenture (the “Indenture”), dated as of February 4, 2021 providing for the issuance of 7.500% Senior Secured Notes due 2026 (the “Notes”);

WHEREAS, the Trustee has succeeded to U.S. Bank, National Association pursuant to Section 7.09 of the Indenture;

WHEREAS, the Indenture provides that under certain circumstances, the Guaranteeing Subsidiaries shall execute and deliver to the Trustee a supplemental indenture pursuant to which the Guaranteeing Subsidiaries shall each unconditionally guarantee all of the Issuers’ Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the “Note Guarantee”); and

WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture.

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiaries and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of Notes as follows:

1.CAPITALIZED TERMS. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

2.AGREEMENT TO GUARANTEE. Each Guaranteeing Subsidiary hereby agrees to provide an unconditional Guarantee on the terms and subject to the conditions set forth in the Note Guarantee and in the Indenture including but not limited to Article X thereof.

3.EXECUTION AND DELIVERY. Each Guaranteeing Subsidiary agrees that the Note Guarantees shall remain in full force and effect notwithstanding any failure to endorse on each Note a notation of such Note Guarantee.

4.NO RECOURSE AGAINST OTHERS. No past, present or future director, officer, partner, employee, incorporator, organizer, manager, unitholder or other owner of Capital Stock (as defined in the Indenture) of the Guaranteeing Subsidiaries or agent thereof, as such, shall have any liability for any obligations of the Issuers, the Guarantors, the Guaranteeing Subsidiaries or any other Subsidiary of an Issuer providing a Note Guarantee under the Notes, any Note Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of the Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. Such waiver may not be effective to waive liabilities under the federal securities laws and it is the view of the SEC that such a waiver is against public policy.

5.NEW YORK LAW TO GOVERN. THE LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE.

6.COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. The exchange of signed copies of this Supplemental Indenture by facsimile transmission or emailed portable document format (pdf) shall constitute effective

execution and delivery of this Supplemental Indenture as to the parties hereto and such copies may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or portable document format (pdf) shall be deemed to be their original signatures for all purposes other than authentication of Notes by the Trustee.

7.EFFECT OF HEADINGS. The Section headings herein are for convenience only and shall not affect the construction hereof.

8.THE TRUSTEE. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiaries and the Issuers.

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed and attested, all as of the date first above written.

Dated: March 25, 2022

GUARANTEEING SUBSIDIARIES:

NGL SHARED SERVICES, LLC

By: /s/ Linda Bridges

Name: Linda Bridges

Title: Chief Financial Officer

NGL SHARED SERVICES HOLDINGS, INC.

By: /s/ Linda Bridges

Name: Linda Bridges

Title: Chief Financial Officer

[Signature Page to First Supplemental Indenture]

ISSUERS:

NGL ENERGY PARTNERS LP

By: NGL Energy Holdings, LLC,

its general partner

By: /s/ Linda Bridges

Name: Linda Bridges

Title: Chief Financial Officer

NGL ENERGY FINANCE CORP.

By: /s/ Linda Bridges

Name: Linda Bridges

Title: Chief Financial Officer

[Signature Page to First Supplemental Indenture]

EXISTING GUARANTORS:

ANTICLINE DISPOSAL, LLC

AWR DISPOSAL, LLC

CENTENNIAL ENERGY, LLC

CENTENNIAL GAS LIQUIDS ULC

CHOYA OPERATING, LLC

DISPOSALS OPERATING, LLC

GGCOF HEP BLOCKER II, LLC

GGCOF HEP BLOCKER, LLC

GRAND MESA PIPELINE, LLC

GSR NORTHEAST TERMINALS LLC

HEP OPERATIONS, LLC

HILLSTONE ENVIRONMENTAL PARTNERS, LLC

LOVING FORTRESS, LLC

NGL CRUDE CUSHING, LLC

NGL CRUDE LOGISTICS, LLC

NGL CRUDE TERMINALS, LLC

NGL CRUDE TRANSPORTATION, LLC

NGL DELAWARE BASIN HOLDINGS, LLC

NGL ENERGY EQUIPMENT LLC

NGL ENERGY GP LLC

NGL ENERGY HOLDINGS II, LLC

NGL ENERGY LOGISTICS, LLC

NGL ENERGY OPERATING LLC

NGL LIQUIDS, LLC

NGL MARINE, LLC

NGL MILAN INVESTMENTS, LLC

NGL RECYCLING SERVICES, LLC

NGL SOUTH RANCH, INC.

NGL SUPPLY TERMINAL COMPANY, LLC

NGL SUPPLY WHOLESALE, LLC

NGL WATER PIPELINES, LLC

NGL WATER SOLUTIONS - ORLA SWD, LLC

NGL WATER SOLUTIONS DJ, LLC

NGL WATER SOLUTIONS EAGLE FORD, LLC

NGL WATER SOLUTIONS PERMIAN, LLC

NGL WATER SOLUTIONS PRODUCT SERVICES, LLC

NGL WATER SOLUTIONS, LLC

By: /s/ Linda Bridges

Name: Linda Bridges

Title: Chief Financial Officer

[Signature Page to First Supplemental Indenture]

U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee and Collateral Agent

By: /s/ Michael K. Herberger

Name: Michael K. Herberger

Title: Vice President

[Signature Page to First Supplemental Indenture]