KNOT OFFSHORE PARTNERS LP - KNOP STOCK NEWS

KNOT Offshore Partners LP (NYSE: KNOP) will host a virtual Investor Day on October 6, 2021 at 10:00 am EST. The event will feature insights on the shuttle tanker business and market updates from the Partnership and its sponsor, Knutsen NYK Offshore Tankers AS, along with industry experts. A Q&A session will follow. Investors can access the live webcast or an archived replay by pre-registering here.

KNOT Offshore Partners LP (NYSE:KNOP) has announced an exchange agreement with its sponsor, Knutsen NYK Offshore Tankers AS, to eliminate incentive distribution rights (IDRs). In return, Knutsen NYK will receive 673,080 common units and Class B Units, which introduces a new class of limited partner interests with specific distribution conditions. The IDR Exchange, set to close on September 10, 2021, will enhance the alignment of interests between the sponsor and common unitholders, potentially increasing the attractiveness of KNOP as an investment.

KNOT Offshore Partners LP reported total revenues of $70.9 million for the three months ended June 30, 2021, slightly down from $71.5 million in the previous quarter. The Partnership experienced an operating loss of $1.2 million and a net loss of $10.9 million, influenced by a $29.4 million non-cash write-down on the Windsor Knutsen. Adjusted operating income was $28.2 million, with an Adjusted EBITDA of $52.1 million. The Partnership paid a cash distribution of $0.52 per common unit on August 12, 2021, maintaining a distribution coverage ratio of 1.32. Liquidity stood at $101.6 million.

Knot Offshore Partners LP (NYSE:KNOP) will hold its 2021 Annual Meeting on September 16, 2021, at 12:30 pm UK time at One Elmfield Park, Bromley, UK. The record date for voting is August 12, 2021. Associated materials will be provided prior to the meeting. Depending on health regulations, the meeting’s location may change, or it may be conducted via remote communication. Any updates will be communicated through a press release ahead of the meeting.

KNOT Offshore Partners LP (NYSE:KNOP) will release its Second Quarter 2021 financial results on August 26, 2021, before the market opens. A conference call to discuss the results is scheduled for the same day at 11:00 AM Eastern Time, with options for participants to join via phone or webcast. Additionally, an earnings presentation will be available on their website prior to the call. The conference call will be recorded and accessible until September 2, 2021. KNOT Offshore Partners operates shuttle tankers under long-term charters in the North Sea and Brazil.

KNOT Offshore Partners LP (NYSE:KNOP) announced a quarterly cash distribution of $0.52 per unit for the quarter ending June 30, 2021, amounting to $2.08 on an annualized basis. This cash distribution will be disbursed on August 12, 2021, to unitholders of record as of July 29, 2021. KNOT Offshore Partners operates shuttle tankers under long-term charters in the offshore oil sectors of the North Sea and Brazil, and is structured as a publicly traded master limited partnership.

KNOT Offshore Partners LP (NYSE:KNOP) announced that CEO Gary Chapman will present at the 2021 Energy Infrastructure Council (EIC) Investor Conference on May 19 at 11:45 AM Eastern Time. The presentation will be available via webcast on the Partnership’s website, allowing attendees to access the event remotely. A replay will be accessible for 30 days following the live presentation. KNOT Offshore Partners LP is a publicly traded master limited partnership focused on owning, operating, and acquiring shuttle tankers in offshore oil production regions, particularly in the North Sea and Brazil.

KNOT Offshore Partners reported strong financial performance for Q1 2021, with total revenues of $71.5 million, an increase from the $69.9 million in Q4 2020. The Partnership generated operating income of $27.6 million and net income of $28.1 million. Adjusted EBITDA reached $51.3 million, with a distribution coverage ratio of 1.20. Notably, the Partnership maintained robust liquidity, ending with $115 million available. CEO Gary Chapman highlighted strong cash flow and effective vessel utilization despite challenges posed by COVID-19.

KNOT Offshore Partners LP (NYSE:KNOP) will release its First Quarter 2021 financial results before the market opens on May 13, 2021. A conference call is scheduled for the same day at 11:00 AM (ET) to discuss these results. Interested parties can access the call via phone or through a webcast available on the Partnership's website. The earnings presentation will also be available prior to the call. A recording of the conference call will be accessible until May 20, 2021.