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.
Rhea-AI Summary
Genesis Energy, L.P. (GEL) announced its fourth quarter results, with Net Income Attributable to Genesis Energy, L.P. at $12.0 million compared to $42.0 million in 2022. Cash Flows from Operating Activities rose to $124.8 million from $81.8 million. The company declared cash distributions on preferred units and reported Total Segment Margin of $209.4 million. Adjusted EBITDA was $188.7 million for the quarter and $842.3 million for the trailing twelve months. CEO Grant Sims highlighted record Adjusted EBITDA of $756.4 million for 2023, exceeding guidance and showing 11% growth over 2022. Significant project milestones were achieved, including the Granger expansion project and SYNC pipeline completion. Financial flexibility was strengthened through capital market access, refinancing, and liquidity utilization.
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Genesis Energy, L.P. (NYSE: GEL) is set to announce its Fourth Quarter earnings on February 15, 2024. The company, headquartered in Houston, Texas, operates in the midstream energy sector, with a focus on offshore pipeline transportation, sodium minerals and sulfur services, marine transportation, and onshore facilities and transportation. The earnings conference call will be accessible on the company's website, and a replay will be available for those unable to attend the live broadcast.
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Genesis Energy, L.P. (NYSE: GEL) Declares Quarterly Distributions, Offering $0.15 for Common Units and $0.9473 for Preferred Units. Company's Operations Include Offshore Pipeline Transportation, Sodium Minerals, and Sulfur Services.
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Genesis Energy, L.P. (NYSE: GEL) releases its 2022 Sustainability Report, showcasing its performance in various sustainability topics and metrics important to the industry and business.
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Genesis Energy, L.P. (NYSE: GEL) has completed a cash tender offer to purchase outstanding senior unsecured notes due 2025, with $513,984,000 aggregate principal amount of the outstanding Notes (96.10%) being validly tendered. The settlement date for the Notes is expected to be December 7, 2023. The company intends to call outstanding Notes for redemption. Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas, with operations in offshore pipeline transportation, soda and sulfur services, marine transportation, and onshore facilities and transportation.
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Genesis Energy, L.P. (NYSE: GEL) will host investor meetings at the 2023 Wells Fargo Midstream & Utilities Symposium in New York City on December 6-7, 2023. The Partnership’s latest presentation materials are available on the Partnership’s website. Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas, with operations including offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation, and marine transportation.
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Genesis Energy, L.P. (NYSE: GEL) will host investor meetings at the Capital One Securities Energy Conference in Houston, TX on December 5, 2023. The Partnership’s latest presentation materials are available for download on the company's website. Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas, with operations in offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation, and marine transportation.
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Genesis Energy, L.P. (NYSE: GEL) has priced a public offering of $600,000,000 in aggregate principal amount of 8.250% senior unsecured notes due 2029. The notes were upsized from the previously announced $550,000,000 and will be co-issued with Genesis Energy Finance Corporation. The company intends to use the net proceeds to fund the purchase price and accrued and unpaid interest for existing notes due 2025, and the remainder for general partnership purposes. The offering is expected to settle and close on December 7, 2023.
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Genesis Energy, L.P. (NYSE: GEL) announced a cash tender offer to purchase any and all outstanding aggregate principal amount of the 6.500% senior unsecured notes due 2025, with $534,834,000 aggregate principal amount outstanding as of November 30, 2023. The tender offer expires on December 6, 2023, and settlement is expected on December 7, 2023. Holders of notes will receive $1,001.25 per $1,000 principal amount, plus accrued and unpaid interest up to the settlement date.
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Genesis Energy, L.P. (NYSE: GEL) announces a $550,000,000 public offering of senior unsecured notes due 2029. The proceeds will fund the purchase of existing notes and general partnership purposes. BofA Securities is leading the offering. Genesis Energy is a diversified midstream energy master limited partnership headquartered in Houston, Texas, with operations in the Gulf Coast, Wyoming, and the Gulf of Mexico.
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FAQ
What is the current stock price of Genesis Energy, L.P. (GEL)?
The current stock price of Genesis Energy, L.P. (GEL) is $11.78 as of November 22, 2024.
What is the market cap of Genesis Energy, L.P. (GEL)?
The market cap of Genesis Energy, L.P. (GEL) is approximately 1.4B.
What does Genesis Energy, L.P. specialize in?
Genesis Energy, L.P. specializes in the midstream segment of the crude oil and natural gas industry, offering services like pipeline transportation, storage, and marine operations.
Where is Genesis Energy, L.P. headquartered?
Genesis Energy, L.P. is headquartered in Houston, Texas.
What are the main segments of Genesis Energy, L.P.'s operations?
The main segments are offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation, and marine transportation.
Which segment generates the most revenue for Genesis Energy?
The offshore pipeline transportation segment generates the most revenue for Genesis Energy.
What recent projects has Genesis Energy undertaken?
Recent projects include the expansion of offshore pipeline capacity and the development of new storage facilities.
Who are Genesis Energy’s customers?
Genesis Energy serves crude oil and natural gas producers, as well as industrial and commercial enterprises.
What types of transportation does Genesis Energy provide?
Genesis Energy provides pipeline transportation, marine transportation with tankers and barges, and onshore transportation services.
How does Genesis Energy ensure reliable service?
Genesis Energy ensures reliable service through its diverse portfolio of operations, strategic assets, and partnerships with leading energy companies.
Is Genesis Energy involved in any partnerships?
Yes, Genesis Energy collaborates with leading energy companies and industrial players to enhance its service offerings.
What is the financial outlook of Genesis Energy?
Genesis Energy maintains a robust financial profile, supported by steady revenue streams and a commitment to sustainable growth.
Genesis Energy, L.P.
NYSE:GEL
GEL Rankings
GEL Stock Data
1.41B
100.14M
18.23%
70.74%
2.89%
Oil & Gas Midstream
Pipe Lines (no Natural Gas)
United States of America
HOUSTON