Welcome to our dedicated page for Shell Midstream Partners L P news (Ticker: SHLX), a resource for investors and traders seeking the latest updates and insights on Shell Midstream Partners L P stock.
Shell Midstream Partners, L.P. (formerly NYSE: SHLX) generated a steady flow of news and disclosures during its time as a publicly traded master limited partnership focused on pipeline transportation of crude oil and related midstream assets. Headquartered in Houston, Texas, the partnership reported on its ownership and operation of crude oil and refined products pipelines and terminals, storage tanks, and natural gas and refinery gas pipelines serving Gulf Coast and Midwest refining and chemical markets.
News coverage for SHLX included regular announcements of quarterly unaudited financial results, highlighting net income, adjusted EBITDA, cash available for distribution and pipeline throughput metrics across systems such as Zydeco, Mars, Amberjack and other onshore and offshore corridors. The partnership also issued press releases on quarterly cash distributions per limited partner common unit, along with detailed tax considerations for foreign investors and notices regarding Schedule K-3 availability for unitholders needing international tax information.
Another major news theme was corporate transactions involving Shell USA, Inc. Releases described a non-binding proposal, the execution of a definitive merger agreement, and the subsequent completion of the transaction under which Shell USA acquired all publicly held SHLX common units. A key announcement on October 19, 2022 confirmed that the merger had closed, SHLX units were no longer listed on the New York Stock Exchange, and Shell Midstream Partners, L.P. had become an indirect, wholly owned subsidiary of Shell USA.
This news page serves as an archive of those historical communications, including earnings updates, distribution declarations, tax notices and merger-related announcements. Readers interested in the evolution of SHLX, its midstream asset base and its transition from a listed partnership to a wholly owned Shell subsidiary can review these historical releases for context on the partnership’s operations and corporate history.
Shell Midstream Partners reported a net income of $141 million for Q2 2020, equivalent to $0.32 per diluted common unit. Adjusted EBITDA was $192 million. Total cash available for distribution was $163 million, a decrease from the previous quarter. The results reflected lower contributions from refined products joint ventures and reduced volumes on key pipelines, partially offset by new contributions from recent acquisitions. The Board declared a $0.46 per common unit distribution, consistent with prior guidance.
Shell Midstream Partners, L.P. (NYSE: SHLX) announced a cash distribution of $0.4600 per limited partner unit for Q2 2020, reflecting a 7.0% increase from Q2 2019. This distribution is set for payment on August 14, 2020 to unitholders on record as of August 4, 2020. The Partnership's assets encompass pipelines and logistics infrastructure crucial for transporting crude oil and gas, supporting operations from Gulf Coast and Midwest refining markets to major demand centers.
Shell Midstream Partners, L.P. will hold its Second Quarter Earnings Conference Call on July 31, 2020, at 10:00 am CST. Key executives will participate, including CEO Kevin Nichols and CFO Shawn Carsten. Financial results will be released before market open on the same day. The conference call can be accessed via the company’s website. Shell Midstream owns and operates crucial pipelines and logistics assets that facilitate the transportation of crude oil and natural gas, serving vital markets.