Genesis Energy LP is a publicly traded master limited partnership that primarily operates in the energy sector
The company is engaged in the transportation, processing, and storage of various energy products, including crude oil, natural gas, and petroleum products. Its operations encompass a variety of services, including pipeline transportation, terminaling and storage, as well as marketing and trading of refined products. Genesis Energy is committed to providing essential infrastructure and logistics solutions that support energy producers and consumers, while also focusing on sustainability and safety in its operations.
Genesis Energy, L.P. (NYSEGEL) today announced that its Board of Directors has extended its common equity repurchase program for its outstanding Class A common units (the “Program”). The Program, approved on August 8, 2023, was originally scheduled to expire on December 31, 2024. The Board has extended the Program through December 31, 2026, unless expanded and extended prior thereto. To date, Genesis has purchased only 114,900 Class A common units under the Program. The Program does not obligate GEL to acquire a particular number of Class A common units and any Class A common units of GEL that are repurchased will be canceled.
Genesis Energy, L.P. (NYSEGEL) today announced that it will redeem the entire outstanding principal amount of its 8.0% senior notes due 2027 (the “Notes”) that were co-issued with its subsidiary, Genesis Energy Finance Corporation. As of March 3, 2025, $406,245,000 in aggregate principal amount of the Notes were outstanding.
Genesis Energy, L.P. (NYSEGEL) today announced that it has filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 with the Securities and Exchange Commission. A copy of this Form 10-K may be found on the Partnership’s website at https://www.genesisenergy.com/investors/sec-filings. A hard copy of the Form 10-K may be requested free of charge by emailing InvestorRelations@genlp.com.
Genesis Energy, L.P. (NYSEGEL) today announced that it has closed a transaction to sell its soda ash manufacturing and related operations (the “Alkali Business”) to an indirect affiliate of WE Soda Ltd. Transaction highlights include:
Genesis Energy, L.P. (NYSEGEL) announced today that the Board of Directors of its general partner declared a quarterly cash distribution to be paid to Genesis common unit holders and Class A Convertible Preferred unit holders with respect to the quarter ended December 31, 2024. Each holder of common units will be paid a quarterly cash distribution of $0.165, or $0.66 on an annualized basis, for each common unit held of record. Each holder of preferred units will be paid a quarterly cash distribution of $0.9473, or $3.7890 on an annualized basis, for each preferred unit held of record. These quarterly distributions will be paid on Friday, February 14, 2025 to holders of record at the close of business on Friday, January 31, 2025.
Genesis Energy, L.P. (NYSEGEL) today announced that receipt of tenders for an aggregate principal amount of $877,967,000 of our outstanding 8.0% senior notes due 2027 (the “Notes”) that we co-issued with our subsidiary, Genesis Energy Finance Corporation in connection with its previously announced cash tender offer (such transaction, the “Tender Offer”) to purchase up to $575 million aggregate principal amount outstanding of the Notes, as of 5:00 p.m., New York City time, on December 18, 2024 (the “Early Tender Deadline”), as well as the expected initial settlement date for the Tender Offer on December 20, 2024 (the “Initial Settlement Date”). As of December 18, 2024, $981,245,000 aggregate principal amount of the Notes were outstanding.
Genesis Energy, L.P. (NYSEGEL) announced today that it will host investor meetings at Wells Fargo’s 23rd Annual Midstream, Energy & Utilities Symposium in New York City on December 10-11, 2024.
Genesis Energy, L.P. (NYSEGEL) announced today, in connection with our previously announced cash tender offer (the “Tender Offer”) for our 8.0% Senior Notes due 2027 ( “Notes”), that we have increased the maximum aggregate principal amount of Notes that we will accept for purchase in the Tender Offer from $385 million to $575 million (as hereby amended, the “Tender Offer Cap”), on the terms and conditions of the offer to purchase, dated as of December 5, 2024 (as amended by the terms set forth herein, the “Offer to Purchase”).
Genesis Energy, L.P. (NYSEGEL) today announced that it has priced a public offering of $600,000,000 in aggregate principal amount of 8.000% senior notes due 2033 (the “notes”). The offering of the notes was upsized from the previously announced $400,000,000 in aggregate principal amount of the notes. The price to investors will be 100% of the principal amount of the notes. The notes will be co-issued with our subsidiary, Genesis Energy Finance Corporation, and initially will be guaranteed by all of our subsidiaries, other than our unrestricted subsidiaries. We intend to use the net proceeds from this offering (i) to purchase or redeem up to $575 million aggregate principal amount of our outstanding 8.0% senior notes due 2027 (or such lesser aggregate principal amount of such notes that could be acquired with the net cash proceeds of this offering) and (ii) for general partnership purposes, including repaying a portion of the revolving borrowings outstanding under our senior secured credit facility. The offering of the notes is expected to settle on December 19, 2024, subject to customary closing conditions.
Genesis Energy, L.P. (NYSEGEL) today announced the commencement of a cash tender offer to purchase up to $385 million (the “Tender Cap”) of the outstanding aggregate principal amount of the 8.0% senior notes due 2027 (the “Notes”) that we co-issued with our subsidiary, Genesis Energy Finance Corporation (such transaction, the “Tender Offer”). As of December 5, 2024, $981,245,000 aggregate principal amount of the Notes were outstanding. The Tender Offer is being made pursuant to the terms and conditions of an offer to purchase, dated as of December 5, 2024 (as may be amended or supplemented from time to time, the “Offer to Purchase”).
Genesis Energy, L.P. (NYSEGEL) today announced the commencement, subject to market and other conditions, of a registered, underwritten public offering of $400,000,000 in aggregate principal amount of senior notes due 2033 (the “notes”). The notes will be co-issued with our subsidiary, Genesis Energy Finance Corporation, and initially will be guaranteed by all of our subsidiaries, other than our unrestricted subsidiaries. We intend to use the net proceeds from this offering (i) to purchase or redeem up to $385 million aggregate principal amount of our outstanding 8.0% senior notes due 2027 (or such lesser aggregate principal amount of such notes that could be acquired with the net cash proceeds of this offering) and (ii) for general partnership purposes, including repaying a portion of the revolving borrowings outstanding under our senior secured credit facility.
Genesis Energy, L.P. (NYSEGEL) today announced that the company’s 2023 Sustainability Report is now available and can be accessed on the Company’s website at https://www.genesisenergy.com/sustainability. The report shares our progress in the advancement of our corporate sustainability program and provides a review of Genesis Energy’s performance for calendar year 2023 against various sustainability topics and metrics that are important to our industry and our business.
Genesis Energy, L.P. (NYSEGEL) announced today that the Board of Directors of its general partner declared a quarterly cash distribution to be paid to Genesis common unit holders and Class A Convertible Preferred unit holders with respect to the quarter ended September 30, 2024. Each holder of common units will be paid a quarterly cash distribution of $0.165, or $0.66 on an annualized basis, for each common unit held of record. Each holder of preferred units will be paid a quarterly cash distribution of $0.9473, or $3.7890 on an annualized basis, for each preferred unit held of record. These quarterly distributions will be paid on Thursday, November 14, 2024 to holders of record at the close of business on Thursday, October 31, 2024.
Genesis Energy, L.P. (NYSEGEL) announced today that it will host investor meetings at Citi’s 2024 One-on-One Midstream / New Energy Infrastructure Conference in Las Vegas, NV on August 13-14, 2024.
Genesis Energy, L.P. (NYSEGEL) announced today that on July 19, 2024, it successfully syndicated, upsized and closed on an extension of its existing revolving credit facility with $900 million in commitments from both existing and new lenders with an initial maturity date of September 1, 2028. The relevant covenants contained in the new facility will remain materially similar to those in the previous revolving credit facility, although, prospectively, the partnership will have an expanded permitted investment basket which will provide increased flexibility to potentially purchase existing private or public securities across the capital structure that management might then perceive to be a high-valued use of capital.
Genesis Energy, L.P. (NYSEGEL) announced today that, on July 10, 2024, the Board of Directors of its general partner declared a distribution on Genesis’ common units and Class A Convertible Preferred Units attributable to the quarter ended June 30, 2024. These distributions will be paid on August 14, 2024 to holders of record at the close of business on July 31, 2024.
Genesis Energy, L.P. (NYSEGEL) today announced that its 2023 Schedule K-3, reflecting items of international tax relevance, is available online. Unitholders requiring this information may access the Schedule K-3 at www.taxpackagesupport.com/Genesis or through the “K-1 Tax Information” link on the Genesis Energy Home page at www.genesisenergy.com.
Effective July 1, 2024, American Natural Soda Ash Corporation (“ANSAC”) announced today that it is raising export prices US$25.00/MT on all non-contract sales of soda ash, and on contracted sales when contracts allow.
