Welcome to our dedicated page for Usd Partners Lp news (Ticker: USDP), a resource for investors and traders seeking the latest updates and insights on Usd Partners Lp stock.
USD Partners LP (USDP) was a fee-based master limited partnership focused on midstream infrastructure and logistics for crude oil, biofuels and other energy-related products. Over time, its news flow shifted from routine financial reporting toward asset sales, credit facility developments and, ultimately, disclosures about its wind-down and liquidation.
Earlier news items from the Partnership highlighted its business model of generating operating cash flows from multi-year, take-or-pay contracts with primarily investment grade customers, including major integrated oil companies, refiners and marketers. These updates often covered quarterly and annual unaudited financial statements and OTC disclosure statements, which the Partnership made available through its investor materials.
As its financial and capital structure challenges emerged, news releases began to focus on the forbearance agreement with lenders under its credit agreement, requirements tied to the sale of key assets such as the Hardisty Rail Terminal, and the sale of the Stroud rail terminal. These announcements described how sale proceeds were applied to repay borrowings and manage obligations under the revolving credit facility.
Later corporate updates documented the completion of the sale of the Hardisty Rail Terminal, the Partnership’s last remaining operating asset, and the transition to a wind-down and liquidation process. News items also addressed the expected termination of the revolving credit facility, the anticipated write-off of remaining debt, the decision to cease operations, and the Partnership’s request to halt trading of its equity. The Partnership further disclosed potential tax implications for unitholders arising from cancellation of indebtedness income and indicated that unitholders would not receive payments or distributions upon wind down.
This news page serves as an archive of USD Partners LP’s public communications, from its operating period as a midstream logistics partnership through its restructuring, asset sales and eventual cessation of operations.
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.