USD Partners Announces Sale of Stroud Terminal
2024年5月3日 - 5:48AM
ビジネスワイヤ(英語)
A wholly-owned subsidiary of USD Partners LP (OTC: USDP) (the
“Partnership”) announced today that on April 26, 2024, it completed
the sale of the Stroud rail terminal to a third party buyer for all
cash consideration.
The Partnership used the net proceeds from the sale to repay
borrowings outstanding under its revolving credit agreement and to
pay transaction expenses. As of May 2, 2024, the Partnership had
approximately $169.9 million of borrowings outstanding under its
credit agreement.
About USD Partners LP
USD Partners LP is a fee-based, growth-oriented master limited
partnership formed in 2014 by US Development Group, LLC (“USD”) to
acquire, develop and operate midstream infrastructure and
complementary logistics solutions for crude oil, biofuels and other
energy-related products. The Partnership generates substantially
all of its operating cash flows from multi-year, take-or-pay
contracts with primarily investment grade customers, including
major integrated oil companies, refiners and marketers. The
Partnership’s principal assets include a network of crude oil
terminals that facilitate the transportation of heavy crude oil
from Western Canada to key demand centers across North America. The
Partnership’s current operations include railcar loading, storage
and as well as other related logistics services. In addition, the
Partnership provides customers with leased railcars and fleet
services to facilitate the transportation of liquid hydrocarbons
and biofuels by rail.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of U.S. federal securities laws, including statements
with respect to business prospects of the Partnership and USD.
Words and phrases such as “plans,” “will,” “could” and similar
expressions are used to identify such forward-looking statements.
However, the absence of these words does not mean that a statement
is not forward-looking. Forward-looking statements relating to the
Partnership are based on management’s expectations, estimates and
projections about the Partnership, its interests and the energy
industry in general on the date this press release was issued.
These statements, as well as statements about past performance, are
not guarantees of future performance and involve certain risks,
uncertainties and assumptions that are difficult to predict.
Therefore, actual outcomes and results may differ materially from
what is expressed or forecast in such forward-looking statements.
Factors that could cause actual results or events to differ
materially from those described in the forward-looking statements
include those as set forth under the heading “Risk Factors” and
elsewhere in the Partnership’s most recent Annual Report on Form
10-K and in its subsequent filings with the Securities and Exchange
Commission and public announcements. The Partnership is under no
obligation (and expressly disclaims any such obligation) to update
or alter its forward-looking statements, whether as a result of new
information, future events or otherwise.
Category: Operations
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version on businesswire.com: https://www.businesswire.com/news/home/20240502381975/en/
Kyle Schornick Senior Vice President, Chief Financial Officer
(281) 291-8575 kschornick@usdg.com Jennifer Waller Sr. Director,
Financial Reporting and Investor Relations (832) 991-8383
jwaller@usdg.com