Welcome to our dedicated page for KNOT OFFSHORE PARTNERS LP news (Ticker: KNOP), a resource for investors and traders seeking the latest updates and insights on KNOT OFFSHORE PARTNERS LP stock.
KNOT Offshore Partners LP (NYSE: KNOP) is a prominent publicly traded master limited partnership that specializes in owning, operating, and acquiring shuttle tankers. These vessels are essential for crude oil loading, transportation, and storage, operating primarily in the offshore oil production regions of the North Sea and Brazil. The company's unique business model focuses on long-term charters, ensuring consistent revenue streams and stable operations.
The partnership boasts a robust backing from its sponsor, Knutsen NYK Offshore Tankers (KNOT), a strategic joint venture between two globally renowned shipping groups—the Knutsen Group and the NYK Group. This collaboration provides substantial operational, administrative, and developmental support, bolstering KNOP’s market position.
KNOT Offshore Partners LP’s fleet is engaged in time charters and bareboat charters, ensuring versatile service offerings to its clients. KNOP has been structured in a way that optimizes tax efficiency and investor returns, filing as a 1099 entity. This structure is particularly attractive to investors seeking stable, tax-advantaged income from a sector with essential infrastructure.
Recent achievements include the acquisition of new shuttle tankers and securing long-term contracts with leading oil producers. These milestones position KNOP for sustained growth and resilience in the volatile energy sector. Financially, the company maintains a healthy balance sheet, with a strategic focus on leveraging its assets while controlling operational costs.
Keep an eye on KNOP for updates on new contracts, fleet expansions, and potential market opportunities stemming from its solid partnerships and operational expertise.
KNOT Offshore Partners LP (NYSE:KNOP) will release its Fourth Quarter 2022 financial results on March 15, 2023, before market opening. A conference call to discuss the results is scheduled for the same day at 10:00 AM Eastern Time. Interested parties can access the call via the company’s website or by phone. The Fourth Quarter 2022 Earnings Presentation will be available on their website ahead of the call, and a recorded version of the call will be accessible until March 22, 2023.
KNOT Offshore Partners LP specializes in owning and operating shuttle tankers under long-term charters in offshore oil production areas, primarily in the North Sea and Brazil.
Knot Offshore Partners LP (NYSE:KNOP) announced a quarterly cash distribution of $0.026 per common unit for Q4 2022, payable on February 9, 2023, to unitholders of record on January 26, 2023. CEO Gary Chapman highlighted ongoing challenges in the shuttle tanker market, attributing reduced earnings visibility to multiple drydocks and the lack of finalized charters for four vessels in Brazil. The Partnership aims for a sustainable long-term distribution despite these challenges, believing the medium-term market in the North Sea and Brazil will improve significantly.
KNOT Offshore Partners LP (NYSE:KNOP) announced that the upcoming U.S. Treasury and IRS regulations on publicly traded partnerships will not affect its unitholders, effective January 1, 2023. These regulations mandate a 10% tax withholding for certain non-U.S. partners, potentially restricting non-U.S. investors' ability to hold such interests. However, KNOP has elected to be treated as a C corporation for tax purposes, which exempts its unitholders from these regulations. This corporate structure allows the Partnership to issue a Form 1099 instead of a Form K-1.
KNOT Offshore Partners LP (NYSE:KNOP) reported Q3 2022 total revenues of $67.8 million, an increase from $64.0 million in Q2 2022. The partnership achieved an operating income of $15.7 million and a net income of $16.0 million. Adjusted EBITDA was $43.3 million with distributable cash flow at $10.9 million. The fleet maintained a high utilization rate of 99.7%. A quarterly cash distribution of $0.52 per common unit was declared. However, the company anticipates potential challenges in the North Sea due to oversupply and seeks additional employment opportunities.
KNOT Offshore Partners LP (NYSE:KNOP) will release its Third Quarter 2022 financial results on November 30, 2022, before market opening.
The Partnership will hold a conference call on the same day at 10:00 AM Eastern Time for discussing the results, which interested parties can join via phone or webcast. The earnings presentation will also be available on its website. A recording of the call will be accessible until December 7, 2022.
KNOT Offshore operates shuttle tankers primarily under long-term charters in the North Sea and Brazil.
KNOT Offshore Partners LP (NYSE:KNOP) has declared a quarterly cash distribution of $0.52 per unit for the quarter ended September 30, 2022. This annualizes to $2.08 per unit. The distribution will be paid on November 9, 2022, to all unitholders on record as of the close of business on October 27, 2022. KNOT Offshore focuses on owning and operating shuttle tankers under long-term charters in offshore oil production areas, primarily in the North Sea and Brazil.
Knot Offshore Partners LP (NYSE:KNOP) has announced that its 2022 Annual Meeting will take place on October 20, 2022, with a record date for voting set on September 20, 2022. The meeting is scheduled for 3:00 PM UK time at One Elmfield Park, Bromley, United Kingdom. Prior to the meeting, notice and agenda will be distributed. In light of potential public health regulations, the location may change or the meeting could be held remotely, with announcements made in advance.
KNOT Offshore Partners LP (NYSE:KNOP) reported total revenues of $64.0 million for the second quarter of 2022, a slight decrease from $65.2 million in the previous quarter. Operating income fell to $13.4 million compared to $17.5 million in Q1. Net income was $9.9 million, down from $26.8 million in Q1, attributable to increased expenses and drydockings. Distributable cash flow decreased to $9.4 million. The partnership maintained 100% utilization for scheduled operations. Liquidity remains strong at $123.5 million.
KNOT Offshore Partners LP (NYSE:KNOP) will release its Second Quarter 2022 financial results before market open on August 25, 2022. The Partnership will hold a conference call on the same day at 11:00 AM ET to discuss the results. Shareholders and interested parties can participate via phone or webcast through the company’s website. The earnings presentation will be available ahead of the call, and a recording will remain accessible until September 1, 2022.
KNOT Offshore Partners LP (NYSE:KNOP) has declared a quarterly cash distribution of $0.52 per unit for the quarter ended June 30, 2022, equating to an annualized rate of $2.08 per unit. The distribution will be paid on August 11, 2022 to unitholders on record as of July 28, 2022. KNOT Offshore specializes in owning and operating shuttle tankers under long-term charters in offshore oil production regions.
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