Usd Partners Lp - USDP STOCK NEWS

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.

USD Partners LP (NYSE: USDP) declared a quarterly cash distribution of $0.116 per unit for Q2 2021, a 2.2% increase from Q1 2021. The distribution is scheduled for August 13, 2021, with a record date of August 4, 2021. Additionally, the Partnership will report its financial results for Q2 2021 on August 4, 2021, followed by a conference call on August 5, 2021. USD Partners operates midstream infrastructure for crude oil and biofuels, generating cash flows primarily from take-or-pay contracts with investment-grade customers.

USD Partners LP (NYSE:USDP) announced a Terminal Services Agreement with USD Clean Fuels LLC for the shipment of renewable diesel, starting December 1, 2021. This five-year agreement is expected to generate an additional Adjusted EBITDA of approximately $2.0 million annually, backed by a minimum throughput commitment from an investment-grade refining customer. The total capital investment for this project is around $1.8 million. The partnership also entered a Marketing Agreement enhancing USDCF's role in renewable diesel growth projects at the West Colton terminal.

USD Partners LP (NYSE:USDP) announced participation at the Energy Infrastructure Council 2021 Investor Conference in Las Vegas, Nevada on May 18-19, 2021. Presentation materials will be available on their website by 10:00 PM ET on May 17, 2021. The partnership focuses on midstream infrastructure for crude oil, biofuels, and other energy products, generating cash flows primarily from long-term contracts with investment-grade customers. Key operations include crude oil terminals and logistics services, enhancing market access across North America.

USD Partners LP (NYSE: USDP) reported strong Q1 2021 results, with Net Cash from Operating Activities of $12.6 million and Adjusted EBITDA of $14.6 million. Net Income stood at $7.3 million. The Partnership raised its quarterly cash distribution to $0.1135 per unit, representing a 2.25% increase. Management plans to recommend further distribution hikes for the next three quarters. Operating results improved due to higher revenues at its Stroud terminal, while cash flow increased by 27% year-over-year. The Partnership maintains a robust liquidity position with $3 million in cash and $196 million undrawn on its credit facility.

USD Partners LP (NYSE: USDP) announced a quarterly cash distribution of $0.1135 per unit for Q1 2021, marking a 2.25% increase from the previous quarter. This distribution annualizes to $0.454 per unit and is payable on May 14, 2021, to unitholders of record by May 5, 2021. Additionally, management intends to recommend further increases of $0.0025 for the next three quarters of 2021. The partnership plans to release its Q1 financial results after market close on May 5, 2021, followed by a conference call on May 6, 2021.

USD Partners LP (NYSE: USDP) filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, with the SEC. The report is accessible via the Partnership's website and the SEC’s site. Additionally, the 2020 tax package, including the Schedule K-1, is available on their website. USD Partners LP focuses on midstream infrastructure and logistics solutions for crude oil and biofuels, generating cash flows from long-term contracts with investment-grade customers. The company is involved in significant projects, like a Diluent Recovery Unit in Hardisty and a logistics terminal on the Houston Ship Channel.

USD Partners LP (NYSE: USDP) announced its financial results for Q4 and the year ending December 31, 2020. Highlights include a net cash provided by operating activities of $12.1 million, adjusted EBITDA of $14.9 million, and a net income of $6.5 million. The Partnership declared a quarterly cash distribution of $0.111 per unit, demonstrating robust cash flow coverage. With strong demand and long-term contracts in place, the company remains optimistic about upcoming projects in Port Arthur. They have also significantly reduced debt, with a leverage ratio trending lower at 3.5x.