July 22, 2014 8:51 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Buckeye Partners, L.P.

Company Overview

Buckeye Partners, L.P. owns and operates liquid petroleum products pipeline systems in the United States. The company operates through four segments: Pipelines & Terminals, Global Marine Terminals, Merchant Services, and Development & Logistics. The Pipelines & Terminals segment transports liquid petroleum products, including gasoline, jet fuel, diesel fuel, heating oil, and kerosene; and refined petroleum products, such as propane and butane, refinery feedstock, and blending components, as well as crude oil. This segment owns and operates approximately 6,000 miles of pipeline serving approximately 110 delivery locations; and 115 active terminals that provide bulk storage and throughput serv...

One Greenway Plaza

Suite 600

Houston, TX 77046

United States

Founded in 1886



Key Executives for Buckeye Partners, L.P.

Chief Executive Officer of Buckeye GP LLC
Age: 60
Total Annual Compensation: $943.9K
Chief Financial Officer of Buckeye Gp Llc and Executive Vice President of Buckeye Gp Llc
Age: 57
Total Annual Compensation: $611.1K
Senior Vice President of Buckeye GP LLC and President of Domestic Pipelines & Terminals Business Unit
Age: 50
Total Annual Compensation: $486.7K
President of International Pipelines & Terminals Business Unit of Buckeye GP LLC
Age: 42
Total Annual Compensation: $466.5K
Compensation as of Fiscal Year 2013.

Buckeye Partners, L.P. Key Developments

Buckeye Partners, L.P. Appoints William J. Hollis as President, Buckeye Services, Effective from July 14, 2014

Buckeye Partners, L.P. announced that William J. Hollis will be joining Buckeye as President, Buckeye Services effective from July 14, 2014. In this capacity, Mr. Hollis will be responsible for optimizing the performance of Buckeye's Merchant Services and Development & Logistics businesses. In addition, he will lead efforts to further develop Buckeye's growth strategies around crude oil diversification and natural gas liquids projects. Prior to joining Buckeye, Mr. Hollis worked for BP in progressively more responsible roles, the most recent being Vice President, Crude and Products Supply.

Buckeye Partners, L.P. Presents at NAPTP 2014 MLP Investor Conference, May-21-2014

Buckeye Partners, L.P. Presents at NAPTP 2014 MLP Investor Conference, May-21-2014 . Venue: Sawgrass Marriott Golf Resort & Spa, 1000 PGA TOUR Boulevard, Ponte Vedra Beach , FL 32082, United States.

Buckeye Partners, L.P. Announces Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2014; Provides Maintenance Capital Expenditure Guidance for the Year 2014

Buckeye Partners, L.P. announced unaudited consolidated financial results for the first quarter ended March 31, 2014. For the quarter, the company reported total revenue of $1,991,829,000 against $1,331,078,000 a year ago. Operating income was $141.273 million against $123.476 million a year ago. Income from continuing operations before taxes was $101.462 million against $94.957 million a year ago. Income from continuing operations was $101.539 million or $0.87 per diluted share against $94.826 million or $0.90 per diluted share a year ago. Net income attributable to the company was $90.468 million or $0.78 per diluted share against $89.341 million or $0.86 per diluted share a year ago. Adjusted EBITDA from continuing operations was $188.624 million against $160.231 million a year ago. The company ended the quarter with $31 million in cash and long-term debt of $3.2 billion. Maintenance capital was $18.6 million or an increase of approximately $13.5 million compared to the first quarter of 2013. This increase in maintenance capital in the current quarter is primarily timing related, as experienced delays in starting projects in the first half of 2013. The company expect to spend $70 million to $90 million on maintenance capital in 2014, with the increase due to the spending required on the terminals acquired from Hess. Spending on legacy assets is expected to be largely in line with 2013 spending. It expected to spend $300 million to $330 million on growth capital projects on a consolidated basis in 2014.

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