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 closed the sale of a 36% minority equity interest in its Cameron Highway Oil Pipeline System (CHOPS) for an 8/8ths valuation of $1.16 billion, generating approximately $418 million in gross proceeds. The company will use proceeds to fully repay a $300 million term loan and reduce outstanding amounts under its credit facility, resulting in a pro forma bank leverage ratio of 4.96x. Genesis will fund its Granger expansion project through free cash flow and available credit, while retaining operational control of CHOPS.
Genesis Energy, L.P. (NYSE: GEL) announced its participation in two upcoming investor conferences. The RBC Capital Markets Midstream and Energy Infrastructure Conference will take place on November 16-17 in Dallas, Texas. Additionally, Genesis will participate in the Barclays High Yield Bus Tour on November 17 in Houston, Texas. The latest presentation materials are available for download on the company’s website. Genesis Energy operates primarily in the Gulf Coast region and offers various midstream services, including offshore pipeline transportation and marine transportation.
Genesis Energy, L.P. (NYSE: GEL) reported a net loss of $20.9 million for Q3 2021, improved from a $29.7 million loss in Q3 2020. Operating cash flows fell to $54.2 million, down from $143.5 million year-over-year. The company's total segment margin was $153.9 million, with adjusted EBITDA of $140.5 million. Despite challenges from Hurricane Ida, management expects increasing volumes and pricing in its soda ash business. However, upcoming maintenance and a projected adjusted EBITDA of around $620 million for the year suggest a cautious outlook moving forward.
Genesis Energy, L.P. (NYSE: GEL) will announce its Third Quarter earnings for the period ended September 30, 2021, on November 4, 2021, before market open. A conference call will follow at 9:00 a.m. Central time, which can be accessed through their website. Genesis Energy operates in midstream energy with a focus on offshore pipeline transportation, sodium minerals, sulfur services, marine transportation, and onshore facilities, primarily in the Gulf Coast region, Wyoming, and the Gulf of Mexico.
Genesis Energy, L.P. (NYSE: GEL) announced a distribution on its common units and 8.75% Class A Convertible Preferred Units for Q3 2021. The Board of Directors declared a cash distribution of
Genesis Energy, L.P. (NYSE: GEL) will participate in the Citi One-on-One Midstream and Energy Infrastructure Virtual Conference on August 18th and 19th. The latest presentation materials are accessible on their website under the 'Presentations' section in the Investors tab. Headquartered in Houston, Texas, Genesis Energy operates as a diversified midstream energy master limited partnership, focusing on offshore pipeline transportation, sodium minerals and 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 $41.7 million for Q2 2021, a significant improvement from the $326.7 million loss in Q2 2020, which included $277.5 million in non-cash impairment charges. Operating cash flows reached $111 million, and total segment margin was $152.1 million. Adjusted EBITDA stood at $140.9 million. The company anticipates growth from two Gulf of Mexico developments scheduled for first oil in 2022 and ongoing recovery in its soda ash segment, despite facing increased operating expenses and potential cost pressures.
Genesis Energy, L.P. (NYSE: GEL) will release its Second Quarter earnings for the period ending June 30, 2021, on August 4, 2021, prior to market opening. A conference call to discuss these results is scheduled for the same day at 9:15 a.m. Central time. Investors can access the call via Genesis Energy's Investor Relations page. The company operates in the midstream energy sector, providing services such as offshore transportation and sodium mineral services, primarily in the Gulf Coast region and Wyoming.
Genesis Energy, L.P. (NYSE: GEL) has declared a distribution for its common and 8.75% Class A Convertible Preferred Units for the quarter ending June 30, 2021. The cash distribution of $0.15 per common unit ($0.60 annually) and $0.7374 per preferred unit ($2.9496 annually) will be paid on August 13, 2021, to holders on record as of July 30, 2021. Genesis operates in midstream energy, focusing on offshore pipeline transportation, sodium minerals, sulfur services, and marine transportation in the U.S. Gulf Coast and beyond.
Genesis Energy, L.P. (NYSE: GEL) announced its participation in the BofA Securities 2021 Energy Credit Conference, scheduled for June 9th and 10th, 2021. The conference will be held virtually, allowing greater accessibility for attendees. Interested parties can download the Partnership's latest presentation materials from their website, under the 'Presentations' section on the 'Investors' tab. Based in Houston, Texas, Genesis Energy is a diversified midstream energy company specializing in offshore pipeline transportation and other services primarily in the Gulf Coast region, Wyoming, and the Gulf of Mexico.
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