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, L.P. (GEL) is a Houston, Texas-based master limited partnership specializing in the midstream segment of the crude oil and natural gas industry. With a diverse portfolio, the company operates refinery-related plants, pipelines, storage tanks, terminals, marine operations, and truck terminals. It provides highly specialized customer attention, focusing on midstream oil and gas, pulp and paper mills, mining operations, and other industries.
Core Business and Segments
Genesis Energy LP's operations are categorized into four main segments:
- Offshore Pipeline Transportation: This segment generates the bulk of the company’s revenue, focusing on crude oil and natural gas pipeline transportation and handling operations in the Gulf of Mexico. It offers a suite of services to both integrated and large independent energy companies.
- Sodium Minerals and Sulfur Services: Engaged in the production, marketing, and transportation of sodium minerals and sulfur products, this segment contributes significantly to the company's diverse portfolio.
- Onshore Facilities and Transportation: This segment manages a variety of onshore pipelines, storage facilities, and terminals, ensuring efficient and reliable transport and storage solutions for crude oil and natural gas.
- Marine Transportation: Genesis Energy operates a fleet of marine vessels, including tankers and barges, providing essential transportation services for crude oil, petroleum products, and other cargo.
Recent Achievements and Current Projects
The company continues to expand its operational footprint, leveraging its strategic assets and partnerships to enhance service offerings. Recent projects include the expansion of offshore pipeline capacity and the development of new storage facilities to meet growing demand.
Financial Condition
Genesis Energy maintains a robust financial profile, underpinned by steady revenue streams from its diversified operations. The company is committed to sustainable growth, focusing on strategic investments and cost-efficient operations.
Partnerships and Collaborations
Collaborations with leading energy companies and industrial players form a cornerstone of Genesis Energy’s business strategy. These partnerships enable the company to deliver comprehensive midstream solutions, enhancing its competitive edge in the market.
Conclusion
Genesis Energy, L.P. is a vital player in the midstream energy sector, providing essential services to the crude oil and natural gas industry. With a strong focus on customer service and strategic growth, the company is well-positioned to continue its trajectory of success.
Genesis Energy, L.P. (NYSE: GEL) will participate in the 2021 Energy Infrastructure Council Investor Conference from May 18-20, 2021, attending virtually. The company, headquartered in Houston, Texas, is a diversified midstream energy master limited partnership. Its operations encompass offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities, and marine transportation, primarily located in the Gulf Coast region, Wyoming, and the Gulf of Mexico. Presentation materials for the conference can be downloaded from www.genesisenergy.com.
Genesis Energy, L.P. (NYSE: GEL) will participate in the Citi 2021 Global Energy and Utilities Virtual Conference on May 11th and 12th. This participation aims to enhance investor engagement and communication. Interested parties can download the latest presentation materials from the company’s website under the ‘Presentations’ section in the Investors tab. Genesis Energy, headquartered in Houston, Texas, operates in various sectors such as offshore pipeline transportation and marine transportation, primarily in the Gulf Coast region and the Gulf of Mexico.
Genesis Energy, L.P. (NYSE: GEL) reported a net loss of $34.2 million for Q1 2021, compared to $24.9 million net income in Q1 2020. Operating cash flows fell to $77.2 million from $89.6 million year-over-year. Despite challenges, the company maintains a robust segment margin of $156.1 million and an Adjusted EBITDA of $144.1 million. Management expressed confidence in recovery driven by improving macroeconomic conditions and upcoming production from contracted Gulf of Mexico projects. Liquidity is bolstered through recent credit facility refinancing, with no long-term debt maturities until 2024.
Genesis Energy, L.P. (NYSE: GEL) is set to announce its First Quarter earnings for the period ending March 31, 2021, on May 5, 2021, before market opening.
The earnings conference call will commence at 8:30 a.m. Central time (9:30 a.m. Eastern time) on the same day, accessible via the Genesis Energy website.
Genesis operates in various segments, including offshore pipeline transportation and marine transportation, primarily focused in the Gulf Coast region.
Genesis Energy (NYSE: GEL) has announced the pricing of an upsized public offering of $250 million in 8.0% senior unsecured notes due 2027, up from the initially planned $200 million. The notes are part of an existing class and will rank equally with prior notes issued. The proceeds will support general partnership activities, primarily to repay revolving credit borrowings. The offering is set to close on April 22, 2021, pending standard conditions.
Genesis Energy, L.P. (NYSE: GEL) has announced a registered public offering of $200 million in 8.0% senior unsecured notes due 2027. The offering, co-issued with subsidiary Genesis Energy Finance Corporation, aims to benefit from existing subsidiaries' guarantees. The proceeds are intended for general partnership purposes, primarily to pay down revolving credit borrowings. BofA Securities is leading the offering with several joint managers. This press release includes forward-looking statements regarding the offering's closure and fund utilization, subject to market conditions.
Genesis Energy, L.P (NYSE: GEL) has successfully closed on a refinancing of its revolving credit facility, securing $950 million in new commitments. This includes a $650 million revolving credit facility and a $300 million Term Loan A, both due March 15, 2024. Proceeds will repay existing debt. CEO Grant Sims noted improved cash flow and liquidity, facilitating ongoing growth projects in the Gulf of Mexico. The offshore segment expects a quarterly run rate of $85 million in segment margin, and the company achieved record production at its Westvaco soda ash facility.
Genesis Energy, L.P. (NYSE: GEL) announced a distribution for its common and preferred units, with payments set for May 14, 2021. Holders of common units will receive a quarterly cash distribution of $0.15 per unit, totaling $0.60 annually. Preferred unit holders will receive $0.7374 per unit, equating to $2.9496 annually. This announcement reflects Genesis’ ongoing commitment to return value to its investors while maintaining its diversified midstream energy operations across the Gulf Coast and other regions.
Genesis Energy, L.P. (NYSE: GEL) announced its participation in two key investor conferences this week. The events are: Simmons Energy 21st Annual Energy Conference on March 22-23, 2021, and Truist Securities 4th Annual Utilities, Midstream & Alternative Energy Summit on March 25, 2021. Interested parties can access the Partnership’s latest presentation materials by visiting www.genesisenergy.com under the Investors tab. Genesis Energy operates primarily in the Gulf Coast region, offering diversified midstream energy services.
Genesis Energy, L.P. (NYSE: GEL) will participate in the Goldman Sachs Energy Credit Virtual Field Trip on March 16, 2021. The event aims to enhance understanding of the energy sector. Interested parties can access the latest presentation materials on the company's website at www.genesisenergy.com under the Investors tab. Genesis Energy operates primarily in the Gulf Coast region, focusing on offshore pipeline transportation and marine services.
FAQ
What is the current stock price of Genesis Energy, L.P. (GEL)?
What is the market cap of Genesis Energy, L.P. (GEL)?
What does Genesis Energy, L.P. specialize in?
Where is Genesis Energy, L.P. headquartered?
What are the main segments of Genesis Energy, L.P.'s operations?
Which segment generates the most revenue for Genesis Energy?
What recent projects has Genesis Energy undertaken?
Who are Genesis Energy’s customers?
What types of transportation does Genesis Energy provide?
How does Genesis Energy ensure reliable service?
Is Genesis Energy involved in any partnerships?
What is the financial outlook of Genesis Energy?
