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 LP (NYSE: GEL) is a Houston-based midstream energy leader providing critical pipeline transportation and industrial services across North America's oil and gas sector. This dedicated news hub offers investors and industry professionals centralized access to the company's material developments and market disclosures.
Our curated collection features official press releases, regulatory filings, and operational updates spanning GEL's core activities. Key focus areas include quarterly earnings reports, offshore pipeline expansions in the Gulf of Mexico, sodium minerals production updates, and marine transportation infrastructure developments. The resource also tracks strategic partnerships and regulatory compliance milestones impacting the company's operations.
This page serves as an essential tool for monitoring GEL's position within the evolving energy landscape. Users gain efficient access to verified information on capacity expansions, service offerings, and management initiatives directly affecting the partnership's performance. Content is systematically organized to support both fundamental analysis and timely decision-making.
Bookmark this page for ongoing insights into Genesis Energy's operational and financial trajectory. Regularly updated with authoritative sources, it remains your primary destination for tracking GEL's role in North America's midstream energy infrastructure.
Genesis Energy (NYSE: GEL) has announced the sale of its soda ash manufacturing and related operations (Alkali Business) to a WE Soda affiliate for an enterprise value of $1.425 billion. The transaction resulted in approximately $1.010 billion in cash proceeds for Genesis, with ORRI bonds of about $390 million remaining as an obligation of the Alkali Business.
The company plans to use the proceeds to pay down its senior secured revolving credit facility, retire unsecured debt, and repurchase corporate convertible preferred equity securities. This strategic move aims to simplify Genesis's capital structure and refocus on its midstream energy operations.
The transaction may generate tax implications for GEL common unitholders as of February 28, 2025. To offset potential tax liabilities, the partnership intends to increase distributions of Available Cash before Reserves to common units over coming quarters.
Genesis Energy (NYSE: GEL) reported its Q4 2024 results, showing a net loss of $49.4 million compared to net income of $12.0 million in Q4 2023. Cash flows from operations decreased to $74.0 million from $124.8 million year-over-year.
The company's Total Segment Margin was $172.5 million, with Adjusted EBITDA of $160.6 million for Q4 2024. The company maintained a 2.14X coverage for its quarterly distribution of $0.165 per common unit.
Key developments include the near-completion of major capital projects, with over 90% of offshore expansion projects completed. The Granger soda ash facility is now producing at or above design capacity of 3,900 tons per day. Two new offshore developments, Shenandoah and Salamanca, are scheduled for first production in Q2 2025, expected to add 200,000 barrels per day of capacity.
Management projects Adjusted EBITDA of around $700 million in 2025 and potentially $800 million in 2026, with annual operating costs estimated at $600-625 million.
Genesis Energy (NYSE: GEL) has announced its quarterly distribution payments for Q4 2024. Common unit holders will receive $0.165 per unit ($0.66 annualized), while Class A Convertible Preferred unit holders will receive $0.9473 per unit ($3.7890 annualized). The distributions will be paid on February 14, 2025, to holders of record as of January 31, 2025.
The company will release its Q4 2024 earnings on February 13, 2025, before NYSE trading begins, followed by a conference call at 9:00 a.m. CDT. Genesis Energy operates as a diversified midstream energy master partnership, focusing on offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities, and marine transportation, primarily in the Gulf Coast region, Wyoming, and the Gulf of Mexico.
Genesis Energy (NYSE: GEL) announced the early results of its cash tender offer for up to $575 million of its 8.0% senior notes due 2027. As of December 18, 2024, the company received tenders for $877,967,000 of the notes, making the offer oversubscribed. With $981,245,000 in total outstanding notes, GEL will implement a pro-ration factor of approximately 66% for accepting tendered notes.
The initial settlement date is set for December 20, 2024. Due to oversubscription at the Early Tender Deadline, holders who tender notes after this deadline will not have their notes accepted for payment. The tender offer will expire on January 6, 2025.
Genesis Energy (NYSE: GEL) has announced its participation in Wells Fargo's 23rd Annual Midstream, Energy & Utilities Symposium in New York City on December 10-11, 2024. The company will host investor meetings during the event.
The company has made its latest presentation materials available for download on their website under the Investors tab. Genesis Energy is a diversified midstream energy master partnership based in Houston, Texas, with operations spanning offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation, and marine transportation. Their operations are primarily concentrated in the Gulf Coast region of the United States, Wyoming, and the Gulf of Mexico.
Genesis Energy (NYSE: GEL) has increased the maximum aggregate principal amount of its 8.0% Senior Notes due 2027 that it will accept for purchase in its tender offer from $385 million to $575 million. Notes tendered by the Early Tender Deadline (December 18, 2024) will receive $1,021.90 per $1,000 principal amount, including a $30.00 early tender payment. Notes tendered after the Early Tender Deadline but before the Expiration Time (January 6, 2025) will receive $991.90 per $1,000 principal amount.
Settlement dates are expected on December 20, 2024 for early tenders and January 8, 2025 for regular tenders. The offer is contingent upon receiving sufficient funding from future senior notes offerings but not on any minimum tender amount. The company intends, but is not obligated, to redeem additional notes equal to the Tender Offer Cap after the tender offer completion.
Genesis Energy (NYSE: GEL) has priced a public offering of $600 million in 8.000% senior notes due 2033, upsized from the previously announced $400 million. The notes will be co-issued with Genesis Energy Finance and guaranteed by all subsidiaries except unrestricted ones.
The proceeds will be used to purchase or redeem up to $575 million of outstanding 8.0% senior notes due 2027 and for general partnership purposes, including repaying revolving borrowings under their senior secured credit facility. The offering is expected to settle on December 19, 2024.
Genesis Energy (NYSE: GEL) has announced a cash tender offer to purchase up to $385 million of its outstanding 8.0% senior notes due 2027. Currently, $981,245,000 in aggregate principal amount of these notes are outstanding.
Holders who tender their notes by the Early Tender Deadline (December 18, 2024) will receive $1,021.90 per $1,000 principal amount, including a $30.00 early tender payment. Those tendering after the Early Tender Deadline but before January 6, 2025, will receive $991.90 per $1,000 principal amount.
The tender offer is contingent upon Genesis receiving sufficient net proceeds from future senior notes offerings to fund the purchase. The company intends, but is not obligated, to redeem additional notes after the tender offer completion.
Genesis Energy (NYSE: GEL) has announced a public offering of $400 million senior notes due 2033. The notes will be co-issued with Genesis Energy Finance and guaranteed by all subsidiaries except unrestricted ones. The company plans to use the proceeds to purchase or redeem up to $385 million of its outstanding 8.0% senior notes due 2027 and for general partnership purposes, including repaying revolving borrowings under its senior secured credit facility. Wells Fargo Securities is leading the offering as the primary underwriter.
Genesis Energy (NYSE: GEL) has published its 2023 Sustainability Report, highlighting the company's progress in corporate sustainability initiatives and performance metrics throughout 2023. The report, available on the company's website, covers various sustainability topics relevant to their industry operations.
Genesis Energy operates as a diversified midstream energy master partnership, with operations spanning offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation, and marine transportation. Their operations are primarily concentrated in the Gulf Coast region of the United States, Wyoming, and the Gulf of Mexico.
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