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USD PARTNERS LP - USDP STOCK NEWS

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.

News

USD Partners Announces Amendment to Existing Revolving Credit Agreement and Extension of Maturity Date

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USD Partners LP (USDP) announced an amendment to its existing revolving credit agreement, extending the maturity date to November 2, 2024, and waiving prior defaults. The Amendment also adds a new independent director to the Board of Directors and delegates certain rights and authority over material transactions. Interest incurred after the Amendment's effective date will be paid by increasing the principal due. The Partnership expressed its satisfaction with the amendment, aiming to advance ongoing commercial discussions with existing and potential new customers.
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USD Partners LP Announces Customer Contract Renewal at Hardisty Terminal

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USD Partners LP (USDP) extends contract with refiner customer at Hardisty Terminal, with potential for increased demand for terminalling services in Western Canada.
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USD Partners Announces Third Waiver Extension Agreement Under Credit Agreement

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USD Partners LP (USDP) Extends Forbearance Period with Lenders and Administrative Agent, Enters Third Waiver Extension Agreement
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USD Partners LP Announces Suspended NYSE Trading, Anticipates Trading Will Begin On the OTC Exchange Effective November 16, 2023

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USD Partners LP (NYSE: USDP) received notification from the New York Stock Exchange (NYSE) regarding the suspension and delisting of its common units due to non-compliance with an NYSE listing requirement. The Partnership has 10 business days to determine whether to appeal the delisting determination. The common units will begin trading in the OTC Pink Market under the ticker symbol USDP.
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USD Partners LP Announces Third Quarter 2023 Results

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USD Partners LP (USDP) Announces Q3 2023 Financial Results, Forbearance Extension, and Potential Delisting from NYSE
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USD Partners Announces Additional Waiver Extension Agreement Under Credit Agreement

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USD Partners LP (USDP) has entered into an agreement to extend the forbearance period under its existing Credit Agreement. The forbearance period has been extended from November 3, 2023, to November 17, 2023. Lenders and administrative agents will continue to forbear from exercising any rights or remedies arising from certain events of default or prospective events of default. They have also temporarily waived events of default arising from the non-payment of amounts due on the maturity date.
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USD Partners Announces Waiver Extension Agreement Under Credit Agreement

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USD Partners LP extends forbearance period with lenders
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USD Partners LP Announces Second Quarter 2023 Results

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USD Partners LP (NYSE: USDP) reported its financial results for Q2 2023. Net income was $4.6 million, net cash used in operating activities was $1.3 million, adjusted EBITDA was $5.8 million, and distributable cash flow was $1.1 million. The company announced a new three-month terminalling services agreement with a third-party customer at the Stroud Terminal. The NYSE notified the company that it was below compliance standards for the minimum price criteria. The company's quarterly distribution was suspended, and it has engaged with its bank group regarding its revolving credit facility maturity in November 2023.
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USD Partners LP Receives Continued Listing Standard Notice from the NYSE

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USD Partners LP (NYSE: USDP) has received a notification from the New York Stock Exchange (NYSE) stating that the Partnership is no longer in compliance with the NYSE's minimum price criteria. The average closing price of the Partnership's Common Units fell below $1.00 over a consecutive 30 trading-day period. However, the Partnership's Common Units will continue to be listed and traded on the NYSE, subject to compliance with other listing requirements. The Partnership has 10 business days to respond to the NYSE and intends to cure the deficiency within the six-month cure period.
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USD Partners LP Announces Short-Term Agreement at Stroud Terminal

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FAQ

What is the current stock price of USD PARTNERS LP (USDP)?

The current stock price of USD PARTNERS LP (USDP) is $0.069625 as of November 20, 2024.

What is the market cap of USD PARTNERS LP (USDP)?

The market cap of USD PARTNERS LP (USDP) is approximately 2.0M.

What does USD Partners LP do?

USD Partners LP acquires, develops, and operates midstream infrastructure assets and logistics solutions for crude oil, biofuels, and other energy-related products in the US and Canada.

What are the main segments of USD Partners LP?

The two main segments are Terminalling Services and Fleet Services.

What is the Hardisty Terminal?

The Hardisty Terminal is an origination terminal owned by USD Partners LP, used for loading various grades of Canadian crude oil onto railcars for market transportation.

Where is the Stroud Terminal located?

The Stroud Terminal is located in Stroud, Oklahoma, and facilitates rail-to-pipeline shipments of crude oil.

What services does the Casper Terminal offer?

The Casper Terminal provides crude oil storage, blending, and railcar loading services.

What is unique about the West Colton Terminal?

The West Colton Terminal in California is unit train-capable and transloads approximately 13,000 barrels per day of ethanol received by rail from producers onto trucks.

What does the Fleet Services segment do?

The Fleet Services segment provides leased railcars and related fleet services to transport energy products efficiently.

How does USD Partners LP support its logistics capabilities?

USD Partners LP enhances logistics capabilities through strategic partnerships, efficient asset utilization, and expanding service offerings.

What is the financial condition of USD Partners LP?

USD Partners LP maintains a strong financial condition with a robust asset base and a focus on operational excellence.

In which regions does USD Partners LP operate?

USD Partners LP operates in the United States and Canada.

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USDP Stock Data

1.99M
14.29M
57.34%
0%
0.03%
Railroads
Industrials
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United States of America
Houston