Profile: Genesis Energy LP (GEL)
17 Feb 2017
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 five segments: Offshore Pipeline Transportation, Onshore 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 Onshore Pipeline Transportation segment is engaged in the transportation of crude oil and carbon dioxide (CO2). 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 CO2.
The Company has a diverse portfolio of assets, including 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
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. It owns interests in approximately 1,440 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. Its interests in offshore natural gas pipeline systems and related infrastructure includes approximately 1,160 miles of pipe with an aggregate design capacity of approximately 4,860 million cubic feet (MMcf) per day. It also owns an interest in over six offshore hub platforms with aggregate capacity of approximately 2,260 MMcf per day of natural gas and approximately 170 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 includes 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 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.
Onshore Pipeline Transportation
The Company's Onshore Pipeline Transportation segment owns approximately five onshore crude oil pipeline systems, with approximately 560 miles of pipe located primarily in Alabama, Florida, Louisiana, Mississippi, Wyoming and Texas. The Company also owns over two CO2 pipelines with approximately 270 miles of pipe. The Company owns and operates over five onshore common carrier crude oil pipeline systems: the Texas System, which transports crude oil from West Columbia to several delivery points near Houston, Texas; the Jay System, which provides crude oil shippers access to refineries, pipelines and storage near Mobile, Alabama; the Mississippi System, which provides shippers of crude oil in Mississippi indirect access to refineries, pipelines, storage, terminals and other crude oil infrastructure located in the Midwest; the Louisiana System, which transports crude oil from Port Hudson to the Baton Rouge Scenic Station and continues downstream to the Anchorage Tank Farm servicing Exxon Mobil Corporation's Baton Rouge refinery, and Wyoming System, which transports crude oil from receipt point stations in Campbell County and Converse County, Wyoming to its Pronghorn Rail Facility.
The Company's Refinery Services segment provides sulfur-extraction services to approximately 10 refining operations located primarily in Texas, Louisiana, Arkansas, 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. The Company markets NaHS in North and South America.
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. It owns a fleet of approximately 70 barges with a combined transportation capacity of over 2.7 million barrels and approximately 40 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 or leases trucks, terminals, gathering pipelines, railcars, and rail loading and unloading facilities. It provides a range of services to oil and gas producers, refineries and other customers. The Company has access to a suite of over 300 trucks, 400 trailers, 520 railcars, and terminals and tankage with approximately 3.3 million barrels of storage capacity in various locations along the Gulf Coast, as well as capacity associated with its common carrier crude oil pipelines. The Company's facilities located in Texas and Wyoming are designed to load crude oil produced locally onto railcars for further transportation to refining markets. Its other facilities are designed primarily to unload crude oil from railcars into pipelines, or onto barges, for delivery to refinery customers. It provides its services through a combination of purchasing, transporting, storing, blending and marketing of crude oil and refined products (primarily fuel oil, asphalt, and other heavy refined products). The Company's crude oil related services include gathering crude oil from producers at the wellhead, transporting crude oil by gathering line, truck, railcar and barge to pipeline injection points and marketing crude oil to refiners. It also gathers refined products from refineries, transports refined products through truck, railcar and barge, and sells refined products to customers in wholesale markets. The Company's crude oil supply and logistics operations are concentrated in Texas, Louisiana, Alabama, Florida, Mississippi and Wyoming. It owns approximately five active crude oil rail loading and unloading facilities located in Baton Rouge, Louisiana; Walnut Hill, Florida; Wink, Texas; and Natchez, Mississippi, and Douglas, Wyoming.
The Company competes with AkzoNobel.
Genesis Energy LP
919 Milam St Ste 2100
HOUSTON TX 77002-5417
Company Web Links
- BRIEF-Genesis Energy reports Q4 earnings per share $0.19
- BRIEF-Chickasaw Capital Management reports 6 pct passive stake in Genesis Energy
- BRIEF-Genesis Energy increases dividend by about 8.4 pct
- BRIEF-Genesis Energy reports Q3 revenue $460 million
- BRIEF-Genesis Energy increases quarterly distribution