USD Partners LP reports corporate-status developments tied to the wind-down of a fee-based master limited partnership that historically operated midstream infrastructure and logistics services for crude oil, biofuels and other energy-related products. Its news includes the completed sale of the Hardisty Rail Terminal, its last remaining operating asset, and the Partnership's subsequent cessation of operations.
Recurring updates also cover unaudited financial statements, OTC disclosure statements, credit-agreement forbearance matters, liquidation steps, equity-cancellation plans, and tax reporting considerations for unitholders. Earlier operating disclosures described railcar loading, storage, leased railcars, fleet services, and take-or-pay customer contracts supporting liquid-hydrocarbon transportation by rail.
USD Partners LP (NYSE: USDP) announced its financial results for Q4 and the year ending December 31, 2020. Highlights include a net cash provided by operating activities of $12.1 million, adjusted EBITDA of $14.9 million, and a net income of $6.5 million. The Partnership declared a quarterly cash distribution of $0.111 per unit, demonstrating robust cash flow coverage. With strong demand and long-term contracts in place, the company remains optimistic about upcoming projects in Port Arthur. They have also significantly reduced debt, with a leverage ratio trending lower at 3.5x.
USD Partners LP (NYSE: USDP) has declared a quarterly cash distribution of $0.111 per unit for Q4 2020, maintaining the same rate as the prior quarter. This distribution is payable on February 19, 2021, to unitholders of record on February 10, 2021. Additionally, the Partnership plans to report its fourth quarter financial and operational results on March 3, 2021, followed by a conference call on March 4, 2021. USD Partners LP focuses on midstream infrastructure, primarily generating cash flows from long-term contracts with investment-grade customers.
USD Partners LP (NYSE:USDP) announced that its senior management will participate in the Goldman Sachs Global Energy Virtual Conference on January 6-7, 2021. Presentation materials will be accessible on the Partnership’s website by 5:00 PM ET on January 5, 2021. Founded in 2014, USD Partners LP focuses on midstream infrastructure for crude oil and biofuels, generating revenue through multi-year contracts with investment-grade customers. Key operations include crude oil terminals and logistics services, enhancing market access across North America.
USD Partners LP (NYSE: USDP) reported its third-quarter 2020 financial results, highlighting a net income of $6.2 million and a cash distribution of $0.111 per unit. The Partnership generated net cash from operating activities of $16.6 million and adjusted EBITDA of $15.6 million. Notably, it reduced its outstanding debt by $19 million since the first quarter. The DRU project is progressing, with construction underway and expected to be operational by Q2 2021, enhancing terminal capacity and securing long-term agreements.
USD Partners LP (NYSE: USDP) announced a quarterly cash distribution of $0.111 per unit for Q3 2020, consistent with the previous quarter. This distribution, amounting to $0.444 annually, is payable on November 13, 2020, to unitholders on record as of November 3, 2020. The company will release its Q3 financial results on November 4, 2020, followed by a conference call on November 5, 2020. USD Partners is focused on midstream infrastructure with revenues primarily from long-term contracts with investment-grade customers.