SHLX - SHLX STOCK NEWS

On September 2, 2021, Shell Midstream Partners (NYSE:SHLX) announced ongoing assessments of Hurricane Ida's impact on its Gulf of Mexico and Louisiana assets. Initial flyovers revealed damage to West Delta-143 facilities, affecting operations linked to the Mars Oil Pipeline. In Louisiana, teams are evaluating access to onshore assets. Meanwhile, Colonial Pipeline Company's Lines 1 and 2 have resumed operations. The Partnership anticipates filing insurance claims to cover potential losses. Updates will be shared on their website as more information becomes available.

Shell Midstream Partners reported net income of $162 million for Q2 2021, equating to $0.36 per share. Adjusted EBITDA was $207 million, up from $201 million. Cash available for distribution rose to $186 million, largely driven by increased Zydeco throughput and stronger offshore volumes. However, the distribution was decreased by 35% to $0.30 per unit. The partnership maintains a coverage ratio of 1.6x and has a debt level of $2.7 billion, equating to a 3.3x debt to annualized adjusted EBITDA ratio, indicating financial flexibility.

Shell Midstream Partners, L.P. (NYSE: SHLX) announced a cash distribution of $0.30 per limited partner common unit for Q2 2021, reflecting a 35% decrease from Q1 2021. This reduction aims to strengthen the Partnership's financial health and ensure sustainable operations for future projects beneficial to unitholders. The distribution will be paid on August 13, 2021, to unitholders of record as of August 3, 2021. Further details and an updated financial framework will be shared during the earnings webcast set for July 30, 2021.

Shell Midstream Partners, L.P. has announced its Second Quarter Earnings Conference Call scheduled for July 30, 2021, at 10:00 AM CST. The financial results will be disclosed prior to market opening on the same day. Interested parties can access the call via the Partnership’s website. Shell Midstream operates pipelines and logistics assets that facilitate the transportation of crude oil, refined products, and natural gas to key markets across the Gulf Coast and Midwest. This infrastructure is essential for connecting production to refining and demand centers.

Shell Midstream Partners reported a net income of $163 million for Q1 2021, yielding $0.37 per diluted unit. Adjusted EBITDA reached $201 million, up from $188 million in the previous quarter. Cash available for distribution increased to $173 million, aided by a rebound in offshore volumes post-hurricane, despite ongoing lower demand for refined products due to COVID-19. The cash distribution declared was $0.46 per unit, maintaining a coverage ratio of 1.1x. The Partnership holds $317 million in cash with $2.7 billion in debt, equating to 3.3x Debt to annualized Q1 EBITDA.

Shell Midstream Partners, L.P. (NYSE: SHLX) announced a cash distribution of $0.4600 per limited partner common unit for Q1 2021. This distribution will be paid on May 14, 2021 to unitholders on record as of May 4, 2021. The release also highlights tax considerations for foreign investors, indicating that all distributions are subject to federal income tax withholding. Shell Midstream owns and operates key midstream infrastructure, including pipelines and storage tanks, facilitating the transportation of crude oil and refined products.

Shell Midstream Partners, L.P. will host its First Quarter Earnings Conference Call on April 30, 2021, at 10:00 AM CST. Financial results, including the earnings release, will be available before market opening on the same day. Key executives participating include Steve Ledbetter, Shawn Carsten, and Sean Guillory. The call can be accessed on the company’s website, with a replay option to follow post-event. The partnership focuses on operating and developing pipelines and logistics assets, supporting crude oil and natural gas transport to essential markets.

Shell Midstream Partners, L.P. (NYSE: SHLX) has released its 2020 investor K-1 tax packages, now accessible via its website. Investors can find these packages on the 'Tax Information' page or through a direct link. For assistance regarding the K-1 tax package, investors may contact Shell's dedicated support team. Shell Midstream operates essential pipelines and logistics assets, facilitating the transportation of crude oil and refined products to key markets.

Shell Midstream Partners, L.P. (NYSE: SHLX) filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, with the U.S. Securities and Exchange Commission. The report is accessible on the Partnership’s website under the 'Financial Reporting' section. Additionally, limited partners can request a printed copy of the report, which includes audited financial statements. A tax notice indicates that all distributions to foreign investors are subject to federal income tax withholding. Shell Midstream operates pipelines and logistics assets, serving key markets for crude oil and refined products.