Knot Offshore Partners Lp Stock Price, News & Analysis

KNOT Offshore Partners LP (NYSE:KNOP) has announced its quarterly cash distribution for the third quarter of 2024. The Board of Directors has declared a distribution of US$ 0.026 per common unit for the quarter ended September 30, 2024. This distribution will be paid on November 7, 2024, to unitholders of record as of the close of business on October 28, 2024.

KNOT Offshore Partners LP is a publicly traded master partnership that owns, operates, and acquires shuttle tankers. These tankers primarily operate under long-term charters in the offshore oil production regions of Brazil and the North Sea. The company's common units trade on the New York Stock Exchange under the symbol 'KNOP'. Although structured as a master partnership, KNOT Offshore Partners LP is classified as a for U.S. federal income tax purposes and issues Form 1099 to its unitholders instead of Form K-1.

KNOT Offshore Partners LP (NYSE:KNOP) has announced that its 2024 Annual Meeting will take place on November 7, 2024. The meeting will be held at Floor 19, 1 Cabot Square, Canary Wharf, London E14 4QJ, United Kingdom at 3:00 pm UK time. The record date for voting at the Annual Meeting has been set for October 3, 2024.

KNOP is a publicly traded master partnership that owns, operates, and acquires shuttle tankers primarily under long-term charters in the offshore oil production regions of Brazil and the North Sea. Despite its structure, KNOP is classified as a for U.S. federal income tax purposes and issues Form 1099 to unitholders instead of Form K-1. The Partnership's common units are traded on the New York Stock Exchange under the symbol 'KNOP'.

KNOT Offshore Partners LP reported its Q2 2024 financial results, generating total revenues of $74.4 million and a net loss of $12.9 million. The loss includes a $16.4 million non-cash impairment for two vessels. Adjusted for this, net income was $3.5 million. Key highlights:

- Adjusted EBITDA of $45.5 million
- Available liquidity of $66.6 million
- Fleet utilization of 98.8%
- Declared quarterly distribution of $0.026 per common unit
- Executed new time charters for multiple vessels
- Acquired Tuva Knutsen and sold Dan Cisne in a vessel swap

The Partnership reports 93% charter coverage for 2024 from fixed contracts, rising to 95% with options. Management sees improving market conditions in Brazil and anticipates offshore oil production growth to outpace shuttle tanker supply in coming years.

KNOT Offshore Partners LP (NYSE:KNOP) has announced a strategic vessel swap, exchanging the smaller, older Dan Cisne for the newer, industry-standard Suezmax shuttle tanker Tuva Knutsen. The transaction involves:

1. Acquiring Tuva Knutsen for $97.5 million (less $69.0 million debt)
2. Selling Dan Cisne for $30 million
3. Net payment of $1.1 million from KNOT to KNOP

The Tuva Knutsen, built in 2021, has a fixed charter with TotalEnergies until February 2026, with KNOT guaranteeing the hire rate until August 2031. This swap reduces KNOP's average fleet age, increases long-term contract stability, and focuses on high-demand shuttle tanker classes without requiring new funding.

KNOT Offshore Partners LP (NYSE:KNOP) has announced its plans to release 2nd Quarter 2024 financial results before market opening on Wednesday, September 4, 2024. The company will host a conference call at 9:30 AM (Eastern Time) on the same day to discuss the results. Unitholders and interested parties can participate via webcast or by dialing in. The earnings presentation will be available on the company's website prior to the call. A recording of the call will be accessible until September 11, 2024.

KNOT Offshore Partners LP operates in the offshore oil production regions of the North Sea and Brazil, primarily owning and operating shuttle tankers under long-term charters. The company is structured as a publicly traded master partnership but is classified as a for U.S. federal income tax purposes.

KNOT Offshore Partners LP (NYSE: KNOP) announced a quarterly cash distribution of $0.026 per common unit for the quarter ending June 30, 2024. This distribution will be paid on August 8, 2024, to unitholders of record as of July 29, 2024. KNOT Offshore Partners LP focuses on owning and operating shuttle tankers under long-term charters in the offshore oil production regions of Brazil and the North Sea. Structured as a publicly traded master partnership, it issues Form 1099 to its unitholders for U.S. federal income tax purposes. KNOP common units trade on the New York Stock Exchange.

KNOT Offshore Partners LP reported Q1 2024 financial results.

Key highlights include: revenues of $76.6 million, operating income of $19.7 million, and net income of $7.4 million. EBITDA adjusted to $47.5 million.

Fleet utilization stood at 97.6%, and available liquidity was $55.2 million.

Key events: declaration of cash distributions, vessel contracts renewals, and the signing of new time charters. The Dan Cisne returned post-charter and is assessing new operations.

The company signed a $60 million loan facility and achieved refinancing milestones. CEO Derek Lowe highlighted contract coverage, fleet utilization, and improving market outlooks in Brazil and the North Sea.

Revenue and operating income increased compared to Q4 2023 and Q1 2023.

Interest expenses decreased due to lower rates and debt.

Overall, KNOT Offshore Partners LP reported a strong operational and financial performance for Q1 2024.

KNOT Offshore Partners LP (NYSE:KNOP) announced it will release its financial results for the 1st Quarter of 2024 on May 23, 2024. A conference call will be held to discuss the results on the same day. The Partnership owns and operates shuttle tankers in offshore oil production regions. Common units trade on the NYSE under the symbol 'KNOP'.