Key Developments: Genesis Energy LP (GEL.N)
51.09USD
1 Aug 2013
$1.24 (+2.49%)
$49.85
$49.31
$51.50
$48.75
30,969
60,495
$55.91
$29.99
Latest Key Developments (Source: Significant Developments)
Genesis Energy LP Agrees To Acquire For Approximately $230 Million All Assets Of Downstream Transportation Business Of Hornbeck Offshore Transportation, LLC
Genesis Energy LP announced that it has agreed to acquire for approximately $230 million all the assets of the downstream transportation business of Hornbeck Offshore Transportation, LLC (Hornbeck). The business is primarily comprised of nine barges and nine tug boats which transport crude oil and refined petroleum products, principally serving refineries and storage terminals along the Gulf Coast, Eastern Seaboard, Great Lakes and Caribbean. At the closing of the transaction, Hornbeck and Genesis expect to enter into transition service agreements to facilitate a smooth transition of operations and uninterrupted services for both employees and customers. Full Article
Genesis Energy LP Increases Quarterly Distribution
Genesis Energy LP announced that it will pay a regular quarterly distribution of $0.51 per Common Unit for the quarter ended June 30, 2013. The distribution will be paid on August 14, 2013, to Common Unitholders of record at the close of business on August 1, 2013. This distribution represents an increase of approximately 10.9% over the second quarter 2012 quarterly distribution of $0.46 per unit, and an approximate 2.5% increase over the distribution paid with respect to the first quarter of 2013. Full Article
Genesis Energy LP Announces Expansion Of Existing Gulf Coast Rail Facility And Construction Of A New Unit Train Rail Facility In Wyoming
Genesis Energy LP announced it will expand its existing rail terminal in Natchez, Mississippi designed to handle straight and/or minimally diluted bitumen delivered by the Canadian National Railway and construct a new unit train loading facility in the heart of the Powder River Basin of the Niobrara Shale Play (Pronghorn Rail Facility). At the Natchez terminal, Genesis is finalizing Phase I of the facility which includes 40 railcar spots to be completed in June 2013. Due to demand for the flexible capacity at the facility, Genesis is moving forward with a Phase II expansion to provide an additional 60 railcar spots and additional heated tanks to be fully operational in late 2013. After receiving all necessary permits in early April, Genesis has since begun construction of the Pronghorn Rail Facility, a new unit train loading facility in the heart of Converse County, just north of Douglas, Wyoming. Genesis is finalizing the commercial agreements with a number of third-party customers that substantially underpin its investments at these two locations. The total cost to Genesis of the Natchez Phase II and Pronghorn Rail Facility projects is expected to be approximately $75 million. Genesis intends to finance the projects with funds available under its committed revolving credit facility. Full Article
Genesis Energy LP Increases Quarterly Distribution
Genesis Energy LP announced that it will pay a regular quarterly distribution of $0.4975 per Common Unit for the quarter ended March 31, 2013. The distribution will be paid on May 15, 2013, to Common Unit holders of record at the close of business on May 1, 2013. This distribution represents an increase of approximately 10.6% over the first quarter 2012 quarterly distribution of $0.45 per unit, and an approximate 2.6% increase over the distribution paid with respect to the fourth quarter of 2012. Full Article
Genesis Energy LP Prices Private Placement Of Senior Notes
Genesis Energy LP announced that it and its subsidiary, Genesis Energy Finance Corporation (the Issuers), priced an upsized offering of $350 million in aggregate principal amount of the Issuers 5.750% senior unsecured notes due 2021, increased from the previously announced aggregate principal amount of $300 million. The price to investors will be 100% of the principal amount of the notes. The offering is expected to close on February 8, 2013, subject to customary closing conditions. Genesis Energy, L.P. intends to use the net proceeds from the offering to repay outstanding borrowings under its revolving credit facility and for general partnership purposes. Full Article
Genesis Energy LP Commences Offering Of Senior Notes
Genesis Energy LP announced the commencement of a private placement to eligible purchasers of $300 million in aggregate principal amount of senior unsecured notes due 2021. The notes will be co-issued with Genesis Energy, L.P.`s subsidiary, Genesis Energy Finance Corporation, and will be guaranteed, with certain exceptions, by substantially all of Genesis Energy, L.P.`s existing and future subsidiaries. Genesis Energy, L.P. intends to use net proceeds from the offering to repay outstanding borrowings under its revolving credit facility and for general partnership purposes. Full Article
Genesis Energy LP Increases Quarterly Distribution
Genesis Energy LP announced that it will pay a regular quarterly distribution of $0.485 per Common Unit for the quarter ended December 31, 2012. The distribution will be paid on February 14, 2013, to Common Unitholders of record at the close of business on February 1, 2013. This distribution represents an increase of approximately 10.2% over the fourth quarter 2011 quarterly distribution of $0.44 per unit, and an approximate 2.6% increase over the distribution paid with respect to the third quarter of 2012. Full Article
Genesis Energy LP Increases Quarterly Distribution
Genesis Energy LP announced that it will pay a regular quarterly distribution of $0.4725 per Common Unit for the quarter ended September 30, 2012. The distribution will be paid on November 14, 2012, to Common Unitholders of record at the close of business on November 1, 2012. This distribution represents an increase of approximately 10.5% over the third quarter 2011 quarterly distribution of $0.4275 per unit, and an approximate 2.7% increase over the distribution paid with respect to the second quarter of 2012. Full Article
Genesis Energy LP Prices Secondary Offering By Selling Unitholders
Genesis Energy LP announced the pricing of an underwritten secondary public offering of 6,000,000 common units representing limited partner interests by Quintana Capital Group II, L.P. and certain of affiliates and certain other selling unit holders. The offering was priced at $32.15 per common unit. Genesis will not receive any of the proceeds from the common units sold by the selling unit holders and the number of outstanding common units will remain unchanged. Barclays Capital Inc. is acting as sole book-running manager for the common units offering. The offering is expected to settle and close October 5, 2012, subject to customary closing conditions as well as the closing of a related transaction. Full Article
Genesis Energy, L.P. Increases Quarterly Distribution
Genesis Energy, L.P. announced that it will pay a regular quarterly distribution of $0.46 per Common Unit for the quarter ended June 30, 2012. The distribution will be paid on August 14, 2012, to Common Unit holders of record at the close of business on August 1, 2012. This distribution represents an increase of approximately 10.8% over the second quarter 2011 quarterly distribution of $0.415 per unit, and an approximate 2.2% increase over the distribution paid with respect to the first quarter of 2012. Full Article
UPDATE 1-Genesis to increase crude for Exxon Baton Rouge plant
* New infrastructure to make more inland US crude available

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