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) has initiated a public offering of $400 million in senior unsecured notes due 2030. This offering will be co-issued with its subsidiary, Genesis Energy Finance Corporation, and guaranteed by most subsidiaries. The funds will primarily be used to redeem existing 5.625% senior unsecured notes due 2024 and to pay accrued interests. Additionally, the remainder will finance general partnership activities, including debt repayment. Wells Fargo Securities, LLC is leading the offering, which follows SEC regulations and is not an offer to purchase the notes directly.
Genesis Energy, L.P. (NYSE: GEL) announced a cash distribution on its common units and Class A Convertible Preferred Units for the quarter ending December 31, 2022. Holders of common units will receive $0.15 per unit, translating to an annualized rate of $0.60, while preferred unit holders will receive $0.9473 per unit ($3.7890 annualized). These distributions will be paid on February 14, 2023, to those on record by January 31, 2023. The company operates primarily in the Gulf Coast region and is subject to federal income tax withholding for foreign investors.
Genesis Energy, L.P. (NYSE: GEL) will participate in the Wells Fargo 21st Annual Midstream & Utilities Symposium on December 7-8, 2022, in New York City. The event will take place in person, providing an opportunity for stakeholders to engage directly with the company. Genesis Energy, a diversified midstream energy master limited partnership based in Houston, Texas, focuses on offshore pipeline transportation, sodium minerals, sulfur services, and marine transportation, primarily within the Gulf Coast region and Gulf of Mexico.
Genesis Energy, L.P. (NYSE: GEL) will participate in the RBC Capital Markets Midstream and Energy Infrastructure Conference in Dallas, Texas on November 16-17, 2022. The event will be held in person, offering insights into the midstream energy sector. Interested parties can download the latest presentation materials from Genesis Energy's website under the 'Presentations' section in the Investors tab.
Based in Houston, Texas, Genesis Energy operates in the Gulf Coast region, Wyoming, and the Gulf of Mexico.
Genesis Energy, L.P. (NYSE: GEL) reported a net income of $3.4 million for Q3 2022, a significant recovery from a net loss of $20.9 million in Q3 2021. Operating cash flows increased to $94.3 million from $54.2 million year-over-year. Adjusted EBITDA reached $183.6 million, exceeding expectations, while total segment margin rose to $196.2 million. The company has raised its full-year Adjusted EBITDA guidance to $700-$710 million, anticipating strong performance amid a tight soda ash market and growth from offshore operations.
Genesis Energy, L.P. (NYSE: GEL) will report its earnings for the Third Quarter ended September 30, 2022, on October 27, 2022, before the market opens. The earnings conference call is scheduled for the same day at 9:00 a.m. Central time (10:00 a.m. Eastern). Investors can access the call through Genesis Energy's website. The company is a midstream energy master limited partnership based in Houston, Texas, with operations including offshore pipeline transportation, sodium minerals, and sulfur services.
Genesis Energy, L.P. (NYSE: GEL) announced a cash distribution of $0.15 per common unit, equating to an annualized rate of $0.60, payable on November 14, 2022, to record holders as of October 31, 2022. For its 8.75% Class A Convertible Preferred Units, the distribution amounts to $0.7374 per preferred unit ($2.9496 annualized). This decision reflects Genesis’ ongoing commitment to return value to its investors and highlights its operational stability within the midstream energy sector, primarily centered in the Gulf Coast region and the Gulf of Mexico.
Genesis Energy, L.P. (NYSE: GEL) will participate in the Wells Fargo Leveraged Finance Conference in Nashville, Tennessee on September 8-9, 2022. The company, based in Houston, Texas, operates in offshore pipeline transportation, sodium minerals, sulfur services, and more. Latest presentation materials are available on their website under the Investors tab. Genesis primarily serves the Gulf Coast, Wyoming, and the Gulf of Mexico.
Genesis Energy, L.P. (NYSE: GEL) has made its 2021 Schedule K-3 available online for unitholders who require this international tax information. Unitholders can access the Schedule on the Partner Relations support website or via the Genesis Energy homepage. The Schedule K-3 is particularly important for foreign unitholders and those computing foreign tax credits. Genesis Energy will not be mailing copies of this document, but unitholders can request an electronic version by calling Partner DataLink.
Genesis Energy, L.P. (NYSE: GEL) announced its participation in the Citi One-on-One Midstream / Energy Infrastructure Conference in Las Vegas, Nevada. The event will take place in person on August 16th and 17th, 2022. Interested investors can access the latest presentation materials by visiting the company's website at www.genesisenergy.com under the 'Presentations' section of the Investors tab. Genesis operates primarily in the Gulf Coast, Wyoming, and the Gulf of Mexico.
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