USD PARTNERS LP - USDP STOCK NEWS

USD Partners LP (NYSE: USDP) has declared a quarterly cash distribution of $0.121 per unit for Q4 2021, reflecting a 2.1% increase from Q3 2021's distribution of $0.1185. This aligns with management's guidance and is part of an annualized distribution of $0.484 per unit, payable on February 18, 2022. The Partnership will announce its financial results for Q4 and the full year on March 2, 2022, followed by a conference call on March 3, 2022.

USD Partners LP (NYSE:USDP) has signed a five-year Terminal Services Agreement with a major ethanol producer at its West Colton, CA terminal, effective January 1, 2022. This agreement replaces a short-term contract and is projected to generate an additional $1.0 to $1.5 million annually in Net Cash from Operating Activities and Adjusted EBITDA. The Partnership also initiated renewable diesel operations at the same terminal, backed by a five-year contract with USD Clean Fuels LLC. Executive VP Brad Sanders emphasized the commitment to sustainable fuels as a growth opportunity.

USD Partners LP (NYSE:USDP) announced the full operational status of its diluent recovery unit (DRU) at the Hardisty Energy Terminal, commencing shipments of DRUbit™ by Rail™. This 50/50 joint venture with Gibson Energy enhances capacity and efficiency, supporting future expansions. DRU technology reduces carbon emissions by 20% compared to dilbit by rail, supporting environmental goals. The Partnership aims to secure long-term contracts with producers and refiners, reinforcing its market position. Websites for USD and the Partnership have been updated with project information.

USD Partners LP (NYSE: USDP) reported its Q3 2021 results, showing Net Cash from Operations of $11.0 million and Adjusted EBITDA of $12.3 million. The Partnership's Net Income was $3.8 million and it amended its revolving credit agreement to extend maturity to November 2, 2023. The quarterly cash distribution increased to $0.1185 per unit, with over 3.0x Distributable Cash Flow Coverage. However, Net Cash from Operations decreased by 34% year-over-year due to lower revenue from the Stroud terminal and higher operating costs. The Partnership remains compliant with its financial covenants.

USD Partners LP (NYSE: USDP) announced a quarterly cash distribution of $0.1185 per unit for Q3 2021, marking a 2.2% increase from the previous quarter’s distribution. This increase aligns with management's guidance and will be payable on November 12, 2021, to unitholders of record on November 3, 2021.

The Partnership will release its Q3 financial results on November 2, 2021, followed by a conference call on November 3, 2021 at 11:00 a.m. Eastern Time.

USD Partners LP (NYSE:USDP) announces an updated investor presentation to be available by September 22, 2021. The presentation will highlight the Partnership's operations and the positive impact of its Sponsor's Diluent Recovery Unit project. It will also provide insights into Western Canadian crude oil market activities. The Partnership has a strong business model based on multi-year contracts with reputable clients, focusing on midstream infrastructure for crude oil and biofuels logistics.

USD Partners LP (NYSE:USDP) will participate in the Citi One-on-One Midstream / Energy Infrastructure Virtual Conference on August 19, 2021. Presentation materials will be available on their website by 5:00 PM ET on August 18, 2021. USD Partners is a master limited partnership focused on midstream infrastructure for crude oil and biofuels. The partnership operates on long-term contracts with investment-grade customers, facilitating heavy crude oil transportation from Western Canada to North America.

USD Partners LP (NYSE:USDP) has announced an expansion of downstream connectivity at its Stroud terminal, allowing for a new pipeline connection to a 300,000 barrel storage tank at the Cushing Hub in Oklahoma. This project will enhance the terminal's ability to facilitate rail-to-pipeline crude oil shipments and is expected to be completed in Q1 2022. The expansion aims to improve market access and increase the customer base, ultimately generating additional fee commitments.

USD Partners LP (NYSE: USDP) reported robust financial results for Q2 2021, generating $14.1 million in net cash from operations and $16.3 million in Adjusted EBITDA. Net income reached $6.7 million, leading to a cash distribution increase to $0.116 per unit. The West Colton Renewable Diesel project is expected to add $2 million in Adjusted EBITDA annually. Improved performance was driven by higher rates and customer commitments at their terminals, despite rising operational costs. The partnership maintains $206 million in undrawn borrowing capacity.