Shell Midstream Partners L P - SHLX STOCK NEWS

Shell Midstream Partners, L.P. (NYSE: SHLX) filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2021, with the U.S. Securities and Exchange Commission. The report includes audited financial statements and can be accessed on the Partnership’s website. Limited partners can request a printed copy free of charge. Additionally, the press release details tax considerations for foreign investors, noting that all distributions are subject to federal income tax withholding. Shell Midstream operates pipelines and logistics assets essential for transporting crude oil and natural gas.

Shell Midstream Partners reported Q4 2021 net income of $104 million, or $0.23 per diluted unit. Excluding impairment charges, earnings would have been $0.35. The partnership generated $167 million in adjusted EBITDA and $142 million in cash available for distribution, a $20 million increase from the prior quarter. Volumes rebounded post-Hurricane Ida. However, Shell Pipeline Company proposed acquiring outstanding public units for $12.89 each. The partnership has $1.2 billion in available liquidity but expects $20 million impacts in 2022 from producer turnarounds.

Shell Midstream Partners, L.P. (NYSE: SHLX) received a non-binding proposal from Shell Pipeline Company LP to acquire all outstanding common units not owned by SPLC or its affiliates, valuing each unit at $12.89. A conflicts committee will evaluate the proposal, which is subject to Board approval and the negotiation of a definitive agreement. The transaction does not affect the operation of SHLX assets. No assurance can be given that the deal will be completed as proposed.

On February 11, 2022, Shell Pipeline Company LP proposed a non-binding offer to acquire the remaining public common units of Shell Midstream Partners, L.P. (NYSE: SHLX) at $12.89 per unit. This move aims to simplify SHLX governance, reduce costs, and allow for enhanced pipeline portfolio optimization. Currently, Shell holds approximately 68.5% of SHLX's common units. The transaction's finalization is contingent upon SHLX's board approval and the satisfaction of specific conditions. Should the transaction complete, Shell’s net debt may increase by the transaction value.

Shell Midstream Partners, L.P. will hold its Fourth Quarter Earnings Conference Call on February 24, 2022, at 10:00 am CST. Key executives, including CEO Steve Ledbetter and CFO Shawn Carsten, will participate. The earnings release will be available before the market opens the same day. Interested parties can access the call on the partnership’s website, where a replay will also be posted afterward. The partnership focuses on owning and operating pipelines and midstream assets crucial for transporting crude oil and natural gas across key markets.

Shell Midstream Partners, L.P. (NYSE: SHLX) has announced a cash distribution of $0.30 per limited partner common unit for the fourth quarter of 2021. This distribution will be paid on February 11, 2022, to unitholders of record as of February 1, 2022. The press release also highlights tax considerations for foreign investors, indicating that all distributions to them are subject to federal income tax withholding. Shell Midstream operates pipelines and other assets critical for transporting crude oil and natural gas across the Gulf Coast and Midwest refining markets.

Shell Midstream Partners, L.P. (NYSE:SHLX) has successfully re-started its West Delta-143 (“WD-143”) “A” offshore facilities. This resumption allows the Mars Oil Pipeline Company to return to normal operations as production ramps up. The partnership remains committed to safety and environmental protection during this process. Shell Midstream owns and operates vital pipeline and midstream infrastructure, which is crucial for transporting crude oil and refined products to key markets.

Shell Midstream Partners (NYSE: SHLX) reported Q3 2021 net income of $127 million, or $0.29 per diluted unit, down from $162 million in the prior quarter. Adjusted EBITDA was $145 million, a decrease from $207 million. Cash available for distribution fell to $122 million, $64 million less than Q2 due to Hurricane Ida's impact, leading to downtime across Gulf Coast assets. Despite challenges, the Partnership expects repairs to be completed by mid-November, restoring volumes and generating stable cash flow, with a distribution of $0.30 per unit declared for Q3.

Houston, Oct. 21, 2021 - Shell Midstream Partners, L.P. (NYSE: SHLX) has declared a cash distribution of $0.30 per limited partner common unit for Q3 2021, payable on November 12, 2021 to unitholders of record as of November 2, 2021. The Partnership will hold its Third Quarter Earnings Conference Call on October 29, 2021 at 10:00 am CST, with financial results expected prior to market opening that day. The release also highlights tax implications for foreign investors regarding distributions.