USD Partners LP Announces Annual Report on Form 10-K for the Year Ended December 31, 2020, and 2020 Schedule K-1 Availability

Rhea-AI Summary

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.

Positive

• Filed Annual Report on Form 10-K with the SEC, providing transparency to investors.
• Generated cash flows from multi-year, take-or-pay contracts with primarily investment-grade customers.
• Engaged in significant projects, enhancing operational capacity and logistics solutions.

Negative

• None.

USD Partners LP (NYSE: USDP) (the “Partnership”) today announced that the Partnership filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, with the U.S. Securities and Exchange Commission (“SEC”). The Partnership’s Annual Report on Form 10-K is available through its website at www.usdpartners.com by selecting the “SEC Filings” sub-tab under the “Investors” tab, as well as on the SEC’s website at www.sec.gov. Interested investors may obtain a hard copy of the Annual Report on Form 10-K, including the Partnership’s financial statements, free of charge by writing to Investor Relations, USD Partners LP, 811 Main Street, Suite 2800, Houston, Texas 77002.

Additionally, the Partnership’s 2020 tax package, which includes the Schedule K-1 (Form 1065), is available and may be accessed on the Partnership’s website at www.usdpartners.com by selecting the “K-1 Tax Information” sub-tab under the “Investors” tab. Printed copies of the tax package were mailed during the week of March 8, 2021. For additional information or assistance, unitholders may contact the toll free USD Partners LP Tax Support Line at 1-844-275-9876.

About USD Partners LP

USD Partners LP is a fee-based, growth-oriented master limited partnership formed in 2014 by US Development Group, LLC (“USD”) to acquire, develop and operate midstream infrastructure and complementary logistics solutions for crude oil, biofuels and other energy-related products. The Partnership generates substantially all of its operating cash flows from multi-year, take-or-pay contracts with primarily investment grade customers, including major integrated oil companies, refiners and marketers. The Partnership’s network of crude oil terminals facilitates the transportation of heavy crude oil from Western Canada to key demand centers across North America. The Partnership’s operations include railcar loading and unloading, storage and blending in on-site tanks, inbound and outbound pipeline connectivity, truck transloading, as well as other related logistics services. In addition, the Partnership provides customers with leased railcars and fleet services to facilitate the transportation of liquid hydrocarbons and biofuels by rail.

USD, which owns the general partner of USD Partners LP, is engaged in designing, developing, owning, and managing large-scale multi-modal logistics centers and energy-related infrastructure across North America. USD solutions create flexible market access for customers in significant growth areas and key demand centers, including Western Canada, the U.S. Gulf Coast and Mexico. Among other projects, USDG, along with its partner Gibson Energy, Inc., is pursuing long-term solutions to transport heavier grades of crude oil produced in Western Canada through the construction of a Diluent Recovery Unit at the Hardisty terminal, which is expected to be placed into service late in the second quarter or early in the third quarter of 2021. USDG is also currently pursuing the development of a premier energy logistics terminal on the Houston Ship Channel with capacity for substantial tank storage, multiple docks (including barge and deepwater), inbound and outbound pipeline connectivity, as well as a rail terminal with unit train capabilities. For additional information, please visit texasdeepwater.com. Information on websites referenced in this release is not part of this release.

Category: Earnings

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FAQ

What is the significance of USD Partners LP's 10-K filing for investors?

The 10-K filing provides crucial financial information and transparency, helping investors assess the Partnership's performance and risk.

Where can I access USD Partners LP's Annual Report on Form 10-K?

The Annual Report can be accessed on USD Partners LP's website under the SEC Filings section or directly on the SEC's website.

What financial information is included in USD Partners LP's tax package for 2020?

The tax package includes important tax information such as the Schedule K-1, which provides details on income, deductions, and credits.

What types of contracts does USD Partners LP primarily operate under?

USD Partners LP primarily operates under multi-year, take-or-pay contracts with investment-grade customers in the energy sector.

What major infrastructure projects is USD Partners LP pursuing?

USD Partners LP is involved in constructing a Diluent Recovery Unit at the Hardisty terminal and developing a logistics terminal on the Houston Ship Channel.