Welcome to our dedicated page for Genesis Energy L P news (Ticker: GEL), a resource for investors and traders seeking the latest updates and insights on Genesis Energy L P stock.
Genesis Energy LP (NYSE: GEL) is a Houston-based midstream energy leader providing critical pipeline transportation and industrial services across North America's oil and gas sector. This dedicated news hub offers investors and industry professionals centralized access to the company's material developments and market disclosures.
Our curated collection features official press releases, regulatory filings, and operational updates spanning GEL's core activities. Key focus areas include quarterly earnings reports, offshore pipeline expansions in the Gulf of Mexico, sodium minerals production updates, and marine transportation infrastructure developments. The resource also tracks strategic partnerships and regulatory compliance milestones impacting the company's operations.
This page serves as an essential tool for monitoring GEL's position within the evolving energy landscape. Users gain efficient access to verified information on capacity expansions, service offerings, and management initiatives directly affecting the partnership's performance. Content is systematically organized to support both fundamental analysis and timely decision-making.
Bookmark this page for ongoing insights into Genesis Energy's operational and financial trajectory. Regularly updated with authoritative sources, it remains your primary destination for tracking GEL's role in North America's midstream energy infrastructure.
Genesis Energy (NYSE: GEL) has declared its quarterly cash distribution for Q1 2025. Common unit holders will receive $0.165 per unit ($0.66 annualized), while Class A Convertible Preferred unit holders will get $0.9473 per unit ($3.7892 annualized). The distribution will be paid on May 15, 2025 to holders of record as of April 30, 2025.
The company will announce its Q1 2025 earnings on May 8, 2025, before NYSE trading hours, followed by a conference call at 9:00 a.m. CDT. Genesis Energy is a Houston-based diversified midstream energy master partnership, operating in offshore pipeline transportation, marine transportation, sulfur services, and onshore facilities, primarily in the Gulf Coast region.
Genesis Energy (NYSE: GEL) has announced significant progress in its balance sheet simplification following the receipt of approximately $1.010 billion in cash from the sale of its Alkali Business. The company has:
- Paid off its senior secured revolving credit facility, saving ~$25 million in annual cash interest
- Called remaining 8.0% senior unsecured notes due 2027, saving ~$33 million in annual interest
- Purchased $250 million of Class A convertible preferred units, eliminating ~$28 million in annual preferred distributions
Combined with $37 million savings from ORRI bonds transfer, these actions reduce annual cash costs by over $120 million ($1.00 per common unit). The company expects to generate excess free cash flow and aims to manage its leverage ratio towards a 4.0x target while considering capital returns to unitholders.
Genesis Energy (NYSE: GEL) has announced the availability of its 2024 tax packages, including Schedule K-1s, which can now be accessed online through their dedicated tax support website or company website. The partnership plans to complete the mailing of physical tax packages by March 11th, 2025.
Unitholders seeking assistance can contact Tax Package Support at 844-649-0506 on weekdays between 8:00 a.m. and 5:00 p.m. CT. Genesis Energy operates as a diversified midstream energy master partnership based in Houston, with operations spanning offshore pipeline transportation, marine transportation, sulfur services, and onshore facilities, primarily in the Gulf Coast region and Gulf of America.
Genesis Energy (NYSE: GEL) has announced an extension of its common equity repurchase program for Class A common units through December 31, 2026, extending the original expiration date of December 31, 2024. The program, initially approved on August 8, 2023, has resulted in the purchase of 114,900 Class A common units to date.
The program does not mandate a specific number of units to be acquired, and any repurchased units will be canceled. Genesis Energy operates as a diversified midstream energy master partnership, with operations primarily in the Gulf Coast region and Gulf of America, focusing on offshore pipeline transportation, marine transportation, sulfur services, and onshore facilities and transportation.
Genesis Energy (NYSE: GEL) has announced the complete redemption of its 8.0% senior notes due 2027. The outstanding principal amount of $406,245,000 will be redeemed on April 3, 2025 at a redemption price of 102% of the principal amount, plus accrued and unpaid interest.
The notes were co-issued with Genesis Energy Finance After the redemption date, interest will cease to accrue, and the notes will no longer be outstanding. Genesis Energy is a diversified midstream energy master partnership based in Houston, Texas, with operations in offshore pipeline transportation, marine transportation, sulfur services, and onshore facilities, primarily in the Gulf Coast region.
Genesis Energy (NYSE: GEL) has announced the filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 with the Securities and Exchange Commission. The report is available on the company's website, and investors can request a free hard copy via email.
Genesis Energy operates as a diversified midstream energy master partnership based in Houston, Texas. The company's operations span multiple sectors including offshore pipeline transportation, marine transportation, sulfur services, and onshore facilities and transportation, primarily concentrated in the Gulf Coast region of the United States and the Gulf of America.
Genesis Energy (NYSE: GEL) has announced the sale of its soda ash manufacturing and related operations (Alkali Business) to a WE Soda affiliate for an enterprise value of $1.425 billion. The transaction resulted in approximately $1.010 billion in cash proceeds for Genesis, with ORRI bonds of about $390 million remaining as an obligation of the Alkali Business.
The company plans to use the proceeds to pay down its senior secured revolving credit facility, retire unsecured debt, and repurchase corporate convertible preferred equity securities. This strategic move aims to simplify Genesis's capital structure and refocus on its midstream energy operations.
The transaction may generate tax implications for GEL common unitholders as of February 28, 2025. To offset potential tax liabilities, the partnership intends to increase distributions of Available Cash before Reserves to common units over coming quarters.
Genesis Energy (NYSE: GEL) reported its Q4 2024 results, showing a net loss of $49.4 million compared to net income of $12.0 million in Q4 2023. Cash flows from operations decreased to $74.0 million from $124.8 million year-over-year.
The company's Total Segment Margin was $172.5 million, with Adjusted EBITDA of $160.6 million for Q4 2024. The company maintained a 2.14X coverage for its quarterly distribution of $0.165 per common unit.
Key developments include the near-completion of major capital projects, with over 90% of offshore expansion projects completed. The Granger soda ash facility is now producing at or above design capacity of 3,900 tons per day. Two new offshore developments, Shenandoah and Salamanca, are scheduled for first production in Q2 2025, expected to add 200,000 barrels per day of capacity.
Management projects Adjusted EBITDA of around $700 million in 2025 and potentially $800 million in 2026, with annual operating costs estimated at $600-625 million.
Genesis Energy (NYSE: GEL) has announced its quarterly distribution payments for Q4 2024. Common unit holders will receive $0.165 per unit ($0.66 annualized), while Class A Convertible Preferred unit holders will receive $0.9473 per unit ($3.7890 annualized). The distributions will be paid on February 14, 2025, to holders of record as of January 31, 2025.
The company will release its Q4 2024 earnings on February 13, 2025, before NYSE trading begins, followed by a conference call at 9:00 a.m. CDT. Genesis Energy operates as a diversified midstream energy master partnership, focusing on offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities, and marine transportation, primarily in the Gulf Coast region, Wyoming, and the Gulf of Mexico.
Genesis Energy (NYSE: GEL) announced the early results of its cash tender offer for up to $575 million of its 8.0% senior notes due 2027. As of December 18, 2024, the company received tenders for $877,967,000 of the notes, making the offer oversubscribed. With $981,245,000 in total outstanding notes, GEL will implement a pro-ration factor of approximately 66% for accepting tendered notes.
The initial settlement date is set for December 20, 2024. Due to oversubscription at the Early Tender Deadline, holders who tender notes after this deadline will not have their notes accepted for payment. The tender offer will expire on January 6, 2025.
