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United States

Profile: Genesis Energy LP (GEL)

GEL on New York Consolidated

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26 May 2017
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Genesis Energy L.P., incorporated on September 5, 1996, is a limited partnership focused on the midstream segment of the oil and gas industry in the Gulf Coast region of the United States, principally Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida, Wyoming, and in the Gulf of Mexico. The Company operates through four segments: Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico. The Refinery Services segment is involved in the processing of high sulfur (or sour) gas streams as part of refining operations to remove the sulfur and selling the related by-product, sodium hydrosulfide (NaHS). The Marine Transportation segment provides waterborne transportation of petroleum products and crude oil throughout North America. The Supply and Logistics segment is engaged in terminaling, blending, storing, marketing, and transporting crude oil and petroleum products (fuel oil, asphalt and other heavy refined products) and carbon dioxide.

The Company's portfolio of customers, operations and assets, include pipelines, refinery-related plants, storage tanks and terminals, railcars, rail loading and unloading facilities, barges and other vessels, and trucks. It provides a range of services to refiners, crude oil and natural gas producers, and industrial and commercial enterprises. Its onshore-based operations occur upstream of, at, and downstream of refinery complexes. Upstream of refineries, the Company aggregates, purchases, gathers and transports crude oil, which it sells to refiners. Within refineries, it provides services to assist in sulfur removal/balancing requirements. Downstream of refineries, the Company provides transportation services, as well as market outlets for finished refined petroleum products and certain refining byproducts.

Offshore Pipeline Transportation Segment

The Company conducts its offshore crude oil and natural gas pipeline transportation and handling operations through its Offshore Pipeline Transportation Segment, which focus on providing a range of services to independent energy companies to develop various crude oil and natural gas properties in the Gulf of Mexico, principally offshore Texas, Louisiana, Mississippi and Alabama. The Offshore Pipeline Transportation segment owns interests in various offshore crude oil and natural gas pipeline systems, platforms and related infrastructure. As of December 31, 2016, the Company owned interests in approximately 1,437 miles of crude oil pipelines with an aggregate design capacity of approximately 1,810 thousand barrels (MBbls) per day. It owns interest in the Poseidon pipeline system and the Cameron Highway pipeline system (CHOPS). It also owns the Southeast Keathley Canyon Pipeline Company, LLC (SEKCO), which is a deepwater pipeline servicing the Lucius field in the southern Keathley Canyon area of the Gulf of Mexico. As of December 31, 2016, the Company's interests in offshore natural gas pipeline systems and related infrastructure included approximately 1,157 miles of pipe with an aggregate design capacity of approximately 4,863 million cubic feet (MMcf) per day. It also owns an interest in over six offshore hub platforms with aggregate capacity of approximately 2,256 MMcf per day of natural gas and approximately 167 MBbls per day of crude oil.

The CHOPS comprises 24- to 30-inch diameter pipelines designed to deliver crude oil from fields in the Gulf of Mexico to refining markets along the Texas Gulf Coast through interconnections with refineries located in Port Arthur and Texas City, Texas. CHOPS also include approximately two multi-purpose offshore platforms. The Poseidon system comprises 16- to 24-inch diameter pipelines to deliver crude oil from developments in the central and western offshore Gulf of Mexico to other pipelines and terminals onshore and offshore Louisiana. The Odyssey system comprises 12- to 20-inch diameter pipelines to deliver crude oil from developments in the eastern Gulf of Mexico to other pipelines and terminals onshore Louisiana. The Eugene Island system comprises a network of crude oil pipelines, the pipeline of which is approximately 20 inches in diameter, to deliver crude oil from developments in the central Gulf of Mexico to other pipelines and terminals onshore Louisiana. The SEKCO Pipeline is a deepwater pipeline serving the Lucius crude oil and natural gas field located in the southern Keathley Canyon area of the Gulf of Mexico. The Shenzi Crude Oil Pipeline gathers crude oil production from the Shenzi production field located in the Green Canyon area of the Gulf of Mexico offshore Louisiana for delivery to both its CHOPS and Poseidon pipeline systems. The Allegheny Crude Oil Pipeline connects the Allegheny and South Timbalier 316 platforms in the Green Canyon area of the Gulf of Mexico with the CHOPS and Poseidon pipelines. The Marco Polo Crude Oil Pipeline transports crude oil from its Marco Polo crude oil platform to an interconnect with the Allegheny Crude Oil Pipeline in Green Canyon Block 164. The Constitution Crude Oil Pipeline gathers crude oil from the Constitution, Caesar Tonga and Ticonderoga production fields located in the Green Canyon area of the Gulf of Mexico for delivery to either the CHOPS or Poseidon pipelines.

Refinery Services Segment

The Company's Refinery Services segment provides sulfur-extraction services to approximately 10 refining operations located primarily in Texas, Louisiana, Arkansas, Montana, Oklahoma and Utah. Its Refinery Services segment also operates storage and transportation assets related to its refinery services, and sells NaHS and caustic soda to industrial and commercial companies. Its refinery services also include includes NaHS and caustic soda terminals in the Gulf Coast, the Midwest, Montana, Utah, British Columbia and South America. The Company utilizes railcars, ships, barges and trucks to transport its products. The Company sells its NaHS to customers in a range of industries, including customers involved in mining of base metals, mainly copper and molybdenum, and the production of pulp and paper.

Marine Transportation

The Company's Marine Transportation Segment consists of its inland marine fleet, which transports heavy refined petroleum products, including asphalt, principally serving refineries and storage terminals along the Gulf Coast, Intracoastal Canal and western river systems of the United States, principally along the Mississippi River and its tributaries; its offshore marine fleet, which transports crude oil and refined petroleum products, principally serving refineries and storage terminals along the Gulf Coast, Eastern Seaboard, Great Lakes and Caribbean, and its double-hulled, Jones Act qualified tanker M/T American Phoenix, which is under charter serving a customer along the Gulf Coast. As of December 31, 2016, the Company owned a fleet of approximately 83 barges with a combined transportation capacity of over 2.9 million barrels and approximately 43 push/tow boats. It provides transportation services by tank barge for refined petroleum products, including heavy fuel oil and asphalt, as well as crude oil.

Supply and Logistic

The Company's Supply and Logistic Segment owns and leases integrated suite of onshore crude oil and refined products infrastructure, including pipelines, trucks, terminals, railcars, and rail loading and unloading facilities. The Company uses those assets, together with other modes of transportation owned by third parties and the Company's, to service its customers and for its own account. It owns five onshore crude oil pipeline systems, with approximately 580 miles of pipe located in Alabama, Florida, Louisiana, Mississippi, Texas and Wyoming. The Company also owns two carbon dioxide pipelines with approximately 270 miles of pipe. The Company has leased its Northeast Jackson Dome System, consisting of 183 miles of pipe in North East Jackson Dome, Mississippi. Its suite consists of over 200 trucks, 400 trailers, 523 railcars, and terminals and tankage with 4.6 million barrels of storage capacity (excluding capacity associated with its common carrier crude oil pipelines) in multiple locations along the Gulf Coast. The Company's crude-by-rail operations consist of a total of six facilities, either in operation or under construction, designed to load and/or unload crude oil. The two facilities located in Texas and Wyoming were designed primarily to load crude oil produced locally onto railcars for further transportation to refining markets. The four other facilities (two in Louisiana, one in Mississippi and one in Florida) were designed primarily to unload crude oil from railcars into pipelines, or onto barges, for delivery to refinery customers. In addition, four of these facilities are directly connected to the Company's integrated pipeline and terminal infrastructure.

Company Address

Genesis Energy LP

919 Milam St Ste 2100
HOUSTON   TX   77002-5417
P: +1713.8602500
F: +1713.8602644

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