Last $47.95 USD
Change Today -0.16 / -0.33%
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Company Description

Contact Info

919 Milam

Suite 2100

Houston, TX 77002

United States

Phone: 713-860-2500

Fax:

Genesis Energy, L.P., through its subsidiaries, is focused on the midstream segment of the oil and gas industry in the Gulf Coast region of the United States. Genesis Energy, LLC serves as a general partner for the company. The company provides an integrated suite of services to oil producers, refineries, and industrial and commercial enterprises. Its business activities are primarily focused on providing services around and within refinery complexes. Upstream of the refineries, the company provides gathering and transportation of crude oil. Within the refineries, it provides services to assist in their sulfur balancing requirements. Downstream of refineries, the company provides transportation services, as well as market outlets for their finished refined products. The company has a portfolio of customers, operations, and assets, including pipelines, refinery-related plants, storage tanks and terminals, railcars, rail loading and unloading facilities, barges, and trucks. The company serves integrated oil companies, independent oil and gas or refinery companies, and industrial and commercial enterprises. Segments The company operates through three segments: Pipeline Transportation, Refinery Services, and Supply and Logistics. Pipeline Transportation segment This segment owns interests in approximately 1,530 miles of crude oil pipelines located in the Gulf Coast region of the United States. Crude Oil Pipelines The company owns interests in three onshore crude oil pipeline systems, with approximately 480 miles of pipe located primarily in Alabama, Florida, Mississippi, and Texas. The Federal Energy Regulatory Commission (FERC) regulates the rates charged by two of the company’s onshore systems to their customers. The rates for the other onshore pipeline are regulated by the Railroad Commission of Texas. It also owns interests in various offshore crude oil pipeline systems, with approximately 1,050 miles of pipe and an aggregate design capacity of approximately 1,090 thousand barrels per day, located offshore in the Gulf of Mexico. The company owns a 28% interest in the Poseidon pipeline system and a 50% interest in the Cameron Highway pipeline system (CHOPS), which is a crude oil pipeline located in the Gulf of Mexico. Onshore Crude Oil Pipelines The company, through the onshore pipeline systems that it owns and operates, transports crude oil for its gathering and marketing operations and for other shippers pursuant to tariff rates regulated by the FERC or the Railroad Commission of Texas. It offers transportation services to any shipper of crude oil, if the products tendered for transportation satisfy the conditions and specifications contained in the applicable tariff. Pipeline revenues are a function of the level of throughput and the particular point where the crude oil is injected into the pipeline and the delivery point. The company owns and operates three onshore common carrier crude oil pipeline systems, such as the Texas System, the Jay System, and the Mississippi System. Texas System: The company’s Texas System transports crude oil from West Columbia to various delivery points near Houston, Texas. Its 18-inch diameter loop of the company’s existing crude oil pipeline into Texas City began operations in 2013. Jay System: The company’s Jay System provides crude oil shippers access to refineries, pipelines, and storage near Mobile, Alabama. That system also includes gathering connections to approximately 35 wells, additional oil storage capacity of 20,000 barrels in the field, an interconnect with its Walnut Hill rail facility, a delivery connection to a refinery in Alabama, and an interconnection to another common carrier pipeline that delivers crude oil into Mississippi. Mississippi System: The company’s Mississippi System provides shippers of crude oil in Mississippi indirect access to refineries, pipelines, storage, terminals, and other crude oil infrastructure located in the Midwest. That system is adjacent to various oil fields that are in various phases of being produced through tertiary recovery strategy, including carbon dioxide (CO2) injection and flooding. The company

 

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Valuation GEL Industry Range
Price/Earnings 44.0x
Price/Sales 1.1x
Price/Book 3.6x
Price/Cash Flow 24.7x
TEV/Sales 0.8x
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