Welcome to our dedicated page for Genesis Energy L P news (Ticker: GEL), a resource for investors and traders seeking the latest updates and insights on Genesis Energy L P stock.
Genesis Energy, L.P. reports news as a diversified midstream energy master limited partnership with operations in offshore pipeline transportation, marine transportation, sulfur services, and onshore facilities and transportation. Its operating footprint is primarily in the Gulf Coast region of the United States and the Gulf of America.
Recurring updates cover quarterly results, Segment Margin, Adjusted EBITDA, Available Cash before Reserves, and cash distributions on common units and Class A Convertible Preferred units. Company announcements also address offshore throughput, customer hub activity, waterborne transportation demand, K-1 tax packages for unitholders, investor presentations, credit facility amendments, senior note offerings, tender offers, and other capital-structure actions tied to the partnership's financing profile.
Genesis Energy, L.P. (GEL) has finalized agreements with Denbury Inc. to sell its Free State CO2 pipeline for $22.5 million, plus an additional $70 million in quarterly payments related to the NEJD financing lease. This transaction is expected to yield approximately $134 million in total cash, aimed at reducing the partnership's debt. CEO Grant Sims emphasized that this move will help Genesis exit the non-core CO2 pipeline sector and strengthen its financial position amid the challenges posed by the COVID-19 pandemic and recent hurricanes.
Genesis Energy, L.P. (NYSE: GEL) will report its third quarter earnings on November 5, 2020, before market opening. An earnings conference call is set for the same day at 8:30 a.m. Central time, accessible via their website. Genesis operates in midstream energy, focusing on offshore pipeline transportation, sodium minerals, sulfur services, marine and onshore transportation, primarily in the Gulf Coast region, Wyoming, and the Gulf of Mexico.
Genesis Energy, L.P. (NYSE: GEL) announced a cash distribution of $0.15 per common unit and $0.7374 per Class A Convertible Preferred Unit for Q3 2020. These distributions, amounting to $0.60 and $2.9496 on an annualized basis respectively, will be paid on November 13, 2020, to record holders by October 30, 2020. The company operates in diverse midstream energy sectors, including offshore pipeline transportation and sodium minerals services, primarily in the Gulf Coast and Wyoming regions.