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 (NYSE:USDP) announced the availability of its 2021 Schedule K-3 online for unitholders. This document is essential for specific reporting requirements, particularly for foreign unitholders and those calculating foreign tax credits. Previously, the Schedule K-1 was made available in March 2021. Unitholders can obtain an electronic copy by contacting Tax Package Support. USD Partners operates midstream infrastructure for energy products, generating cash flows from long-term contracts with investment-grade customers, and develops logistics solutions across North America.
USD Partners LP (NYSE:USDP) announced its participation in the 2022 Citi One-on-One Midstream/Energy Infrastructure Conference on August 16-17, 2022. Presentation materials will be available on the Partnership’s website prior to the event. USD Partners, established in 2014, operates midstream infrastructure focused on crude oil and biofuels, generating cash flow through multi-year contracts with investment-grade clients. Key assets include crude oil terminals in North America, facilitating heavy crude transport.
USD Partners LP (NYSE: USDP) reported its financial results for Q2 2022, showcasing a Net Cash from Operating Activities of $6.2 million and a Net Income of $3.8 million. The Partnership declared a cash distribution of $0.1235 per unit, maintaining a Distributable Cash Flow Coverage of approximately 2.5x. Significant developments included the acquisition of Hardisty South Terminal, enhancing its operational capacity to approximately 262,500 barrels per day, while facing a 74% decline in Net Cash Provided by Operating Activities compared to Q2 2021 due to lower revenues and higher interest expenses.
USD Partners LP (NYSE: USDP) declared a quarterly cash distribution of $0.1235 per unit for Q2 2022, identical to the previous quarter, annualizing to $0.494 per unit. This distribution is payable on August 12, 2022, to unitholders of record as of August 3, 2022. The Partnership will release its Q2 2022 earnings on August 3, 2022, with a conference call scheduled for August 4, 2022, at 11:00 a.m. ET. The Partnership operates midstream infrastructure with a focus on multi-year, take-or-pay contracts with major clients.
USD Partners LP (NYSE:USDP) announced participation in the Energy Infrastructure Council 2022 Investor Conference on May 16-17, 2022, in West Palm Beach, Florida. Presentation materials will be available on their website prior to the event. USD Partners LP is a fee-based master limited partnership focused on midstream infrastructure and logistics solutions for crude oil and biofuels. Its principal assets include crude oil terminals facilitating transportation from Western Canada to North America. The partnership operates under multi-year contracts with primarily investment-grade customers.
USD Partners LP (NYSE: USDP) reported its Q1 2022 financial results, achieving a Net Income of $9.0 million and Adjusted EBITDA of $10.0 million. The Partnership declared a quarterly cash distribution of $0.1235 per unit, showing a 2.1% increase. The quarter was marked by the acquisition of Hardisty South for $75 million in cash and units, aiming to enhance growth and operational synergy. However, Net Cash Provided by Operating Activities decreased 15%, and Adjusted EBITDA and Distributable Cash Flow fell 31% and 33%, respectively, due to lower revenue from key terminals.
USD Partners LP (NYSE: USDP) announced a quarterly cash distribution of
USD Partners LP (NYSE: USDP) has successfully completed the acquisition of the Hardisty South terminal assets from USD Group LLC for a total of $75 million in cash and approximately 5.75 million common units. The cash was financed through the Partnership's $275 million senior secured credit facility. This acquisition enhances the Hardisty Terminal's capacity to 262,500 barrels per day and promotes operational synergies associated with the Sponsor's Diluent Recovery Unit program. The transaction received Board approval based on independent director recommendations.
USD Partners LP (NYSE: USDP) has announced the acquisition of Hardisty South terminal assets from USD Group LLC for $75 million in cash and 5.75 million common units. This transaction, expected to close in Q2 2022, aims to enhance the Partnership's asset base and is projected to yield double-digit accretion to Distributable Cash Flow per Unit in 2023. Key benefits include improved contract profiles and simplified financial structure, eliminating incentive distribution rights, which aligns interests with unitholders. Future cash flow contributions are estimated between $14 million and $18 million in 2023.
USD Partners LP (NYSE: USDP) has filed its Annual Report on Form 10-K for the fiscal year ending December 31, 2021, with the SEC. The report is accessible via the Partnership's website and the SEC's site. Additionally, a tax package including the Schedule K-1 will be available by the week of March 14, 2022. USD Partners LP is a growth-oriented master limited partnership focused on midstream infrastructure and logistics for crude oil and biofuels, generating cash flows through multi-year contracts with investment-grade customers.
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