Welcome to our dedicated page for USD PARTNERS LP news (Ticker: USDP), a resource for investors and traders seeking the latest updates and insights on USD PARTNERS LP stock.
USD Partners LP (USDP) is a leading company in the midstream infrastructure sector, focusing on the acquisition, development, and operation of assets and logistics solutions for crude oil, biofuels, and other energy-related products. Operating primarily in the United States and Canada, the company is divided into two key segments: Terminalling Services and Fleet Services.
The Terminalling Services segment owns and operates the Hardisty Terminal, an essential origination point for loading various grades of Canadian crude oil onto railcars for efficient transportation to end markets. It also manages the Stroud Terminal in Oklahoma, which facilitates rail-to-pipeline shipments of crude oil, and the Casper Terminal in Wyoming, offering crude oil storage, blending, and railcar loading services. Additionally, the West Colton Terminal in California is capable of handling unit trains and transloads approximately 13,000 barrels per day of ethanol received by rail from producers onto trucks.
The Fleet Services segment provides leased railcars and related fleet services, ensuring the efficient transportation of energy products across the network. This segment enhances the company's logistics capabilities and supports the seamless movement of commodities from production sites to end markets.
USD Partners LP continues to strengthen its position in the market through strategic partnerships and ongoing projects aimed at improving infrastructure and expanding service offerings. The company's financial condition remains robust, backed by a strong asset base and a focused approach to operational excellence.
USD Partners LP (OTC: USDP) has announced the release of its quarterly unaudited financial statements and OTC Disclosure Statement for the quarter ended September 30, 2024. The company has made these financial documents accessible to the public through their website at www.usdpartners.com, where they can be found under the 'Financials' section of the 'Investors' tab.
Texas Deepwater Partners (TDWP) has closed a deal with Summit Next Gen to sell 60 acres on the Houston Ship Channel for constructing the first at-scale ethanol-to-jet fuel (ETJ) facility producing sustainable aviation fuel (SAF). Summit Next Gen also purchased an exclusive option for an additional 40 acres for future expansion. TDWP will build, own, and operate a deepwater dock to support Summit's plant operations, underpinned by a long-term terminal services agreement.
The partnership aims to contribute significantly to the growing global SAF demand, with the facility expected to reach FID by mid-2025 and commence operations in 2027. This collaboration marks TDWP's first step in developing an energy transition hub, positioning the company to support sustainable industrial development in the renewable energy sector.
USD Partners LP (OTC: USDP) has released its quarterly unaudited financial statements and OTC Disclosure Statement for the quarter ended June 30, 2024. The Partnership has made these documents available on its official website, www.usdpartners.com. Investors and interested parties can access the financial information by navigating to the 'Investors' tab and selecting the 'Financials' sub-tab. This release of financial data is a standard practice for publicly traded companies, providing transparency and up-to-date information to shareholders and potential investors.
USD Partners (USDP) announced a Forbearance Agreement with its lenders on June 21, 2024, to address events of default under its Credit Agreement. This agreement prevents lenders from exercising their rights or remedies until November 1, 2024, which can be extended to December 30, 2024, and potentially to January 31, 2025.
As part of the agreement, USD Partners must sell its Hardisty Rail Terminal by December 30, 2024, and adhere to an approved operating budget, repaying borrowings with excess cash. The Hardisty Rail Terminal is supported by a long-term contract with an investment-grade customer. Notably, the DRU, owned by Gibson Energy and US Development Group, is not included in the sale.
USD Partners LP (USDP) released its quarterly unaudited financial statements and OTC Disclosure Statement for the quarter ended March 31, 2024. The financial and disclosure statements can be accessed on the company's website.
USD Partners LP (USDP) announced the sale of the Stroud rail terminal to a third party buyer for cash, using the proceeds to repay borrowings and transaction expenses. As of May 2, 2024, the Partnership had approximately $169.9 million in borrowings outstanding under its credit agreement.
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