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) announced a cash tender offer for its 6.000% senior unsecured notes due 2023, with $389,642,000 outstanding as of December 10, 2020. The offer will expire on December 16, 2020, at 5:00 p.m. New York City time, with settlement expected on December 17, 2020. Holders of accepted notes will receive $1,018.40 per $1,000 principal amount plus accrued interest. The tender offer depends on completing debt financing transactions. Genesis Energy is a diversified midstream energy partnership headquartered in Houston, focusing on offshore and onshore transportation.
Genesis Energy, L.P. (NYSE: GEL) announced a public offering of $550 million in senior unsecured notes due 2027. The notes will be co-issued with Genesis Energy Finance Corporation and guaranteed by most existing and future subsidiaries. Proceeds will fund the purchase of 6.000% senior unsecured notes due 2023 in a concurrent tender offer, as well as general partnership purposes, including repaying revolving credit facility borrowings. RBC Capital Markets leads the offering with a full preliminary prospectus available upon request.
Genesis Energy, L.P. (NYSE: GEL) announced participation in the 2020 Wells Fargo Virtual Midstream and Utility Symposium, scheduled for December 8th and 9th. The Partnership's presentation materials are accessible for download on their website under the Investors tab. Genesis Energy specializes in diversified midstream energy services, including offshore pipeline transportation and marine transportation, primarily in the Gulf Coast region, Wyoming, and the Gulf of Mexico.
Genesis Energy, L.P. (NYSE: GEL) announced its participation in the Capital One Securities 15th Annual Energy Conference, scheduled for December 7th. The conference will be held virtually, allowing investors to engage with the Partnership. Interested parties can find the latest presentation materials on Genesis Energy's website under the 'Presentations' section in the Investors tab. Genesis Energy operates in midstream energy services, including offshore pipeline transportation and sodium mineral services, primarily in the Gulf Coast region.
Genesis Energy, L.P. (NYSE: GEL) will participate in the BofA Securities 2020 Leveraged Finance Virtual Conference on December 2nd. The latest presentation materials are accessible on their website under the Investors tab.
Headquartered in Houston, Texas, Genesis Energy is a diversified midstream energy master limited partnership. Its operations encompass offshore pipeline transportation, sodium minerals and sulfur services, as well as onshore facilities and marine transportation, primarily located in the Gulf Coast region.
Genesis Energy, L.P. (NYSE: GEL) will participate in the 2020 RBC Capital Markets Midstream and Energy Infrastructure Virtual Conference on November 18th and 19th. The latest presentation materials are accessible via the company’s website under the ‘Presentations’ section in the Investors tab. Genesis Energy is a diversified midstream energy partnership based in Houston, Texas, with operations including offshore pipeline transportation, sodium minerals, sulfur services, and marine transportation, primarily in the Gulf Coast region, Wyoming, and the Gulf of Mexico.
Genesis Energy, L.P. (NYSE: GEL) reported a net loss of $29.7 million for Q3 2020, down from a net income of $17.6 million in Q3 2019. Despite challenges from the COVID-19 pandemic and hurricanes, operating cash flows increased to $143.5 million. The company declared a quarterly distribution of $0.15 per common unit, with sufficient coverage at 3.84X. Total segment margin was $161.9 million. Adjusted EBITDA stood at $151.5 million. The bank leverage ratio is 5.25X, and the company is focused on enhancing financial flexibility and exploring growth opportunities post-pandemic.
Genesis Energy, L.P. (GEL) has finalized agreements with Denbury Inc. to sell its Free State CO2 pipeline for $22.5 million, plus an additional $70 million in quarterly payments related to the NEJD financing lease. This transaction is expected to yield approximately $134 million in total cash, aimed at reducing the partnership's debt. CEO Grant Sims emphasized that this move will help Genesis exit the non-core CO2 pipeline sector and strengthen its financial position amid the challenges posed by the COVID-19 pandemic and recent hurricanes.
Genesis Energy, L.P. (NYSE: GEL) will report its third quarter earnings on November 5, 2020, before market opening. An earnings conference call is set for the same day at 8:30 a.m. Central time, accessible via their website. Genesis operates in midstream energy, focusing on offshore pipeline transportation, sodium minerals, sulfur services, marine and onshore transportation, primarily in the Gulf Coast region, Wyoming, and the Gulf of Mexico.
Genesis Energy, L.P. (NYSE: GEL) announced a cash distribution of $0.15 per common unit and $0.7374 per Class A Convertible Preferred Unit for Q3 2020. These distributions, amounting to $0.60 and $2.9496 on an annualized basis respectively, will be paid on November 13, 2020, to record holders by October 30, 2020. The company operates in diverse midstream energy sectors, including offshore pipeline transportation and sodium minerals services, primarily in the Gulf Coast and Wyoming regions.
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