reports
USD Partners Announces Amendment to Existing Revolving Credit Agreemen...
HOUSTON--(BUSINESS WIRE)-- On November 21, 2023, USD Partners LP (OTC: USDP) (the “Partnership”) and USD Terminals Canada ULC, an indirect, wholly-owned subsidiary of the Partnership (together with the Partnership, the “Borrowers”), and the subsidiary guarantors party thereto, entered into an amendment (the “Amendment”) to the Borrowers’ existing revolving credit agreement, dated as of November 2, 2018 (the “Credit Agreement”). Among other things, the Amendment extends the maturity date under the Credit Agreement to November 2, 2024 and waives prior defaults under the Credit Agreement. Pursu...
USD Partners LP Announces Customer Contract Renewal at Hardisty Termin...
HOUSTON--(BUSINESS WIRE)-- USD Partners LP (OTC: USDP) (the “Partnership”) announced today that it has entered into a one-year extension agreement with an existing refiner customer at its Hardisty Terminal for a contract that was set to expire in January 2024. The current agreement with the customer contains a commitment for 15% of the Hardisty Terminal’s capacity. The one-year extension with the customer contracts 7% of the Hardisty Terminal’s capacity through the end of January 2025, with an option to utilize up to an incremental 4% of the terminal’s capacity on a monthly basis. The renewal ...
USD Partners Announces Third Waiver Extension Agreement Under Credit A...
HOUSTON--(BUSINESS WIRE)-- USD Partners LP (OTC: USDP) (the “Partnership”) announced today that it has entered into an agreement (the “Third Waiver Extension Agreement”) with the lenders and administrative agent under its existing Credit Agreement to, among other things, extend the forbearance period as provided in the previously announced Second Waiver Extension Agreement, dated as of November 1, 2023, from its expiration date of November 17, 2023 to November 21, 2023 (the “New Expiration Date”). Pursuant to the Third Waiver Extension Agreement, the lenders and administrative agent have agree...
USD Partners LP Announces Suspended NYSE Trading, Anticipates Trading ...
HOUSTON--(BUSINESS WIRE)-- USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that the Partnership received notification from the New York Stock Exchange (the “NYSE”) that the NYSE will suspend trading of, and commence proceedings to delist, the Partnership’s common units, effective at the open of business eastern standard time on November 16, 2023. The determination was made in connection with the Partnership’s non-compliance with an NYSE listing requirement necessitating an average market capitalization of at least $15 million over a consecutive 30 trading-day period. The Partn...
USD Partners LP Announces Third Quarter 2023 Results
HOUSTON--(BUSINESS WIRE)-- USD Partners LP (NYSE: USDP) (the “Partnership”) announced today its operating and financial results for the three and nine months ended September 30, 2023. Financial highlights with respect to the third quarter of 2023 include the following: Reported a Net Loss of $2.8 million Reported Net Cash Provided by Operating Activities of $0.9 million, Adjusted EBITDA(1) of $2.0 million and Distributable Cash Flow(1) of $0.3 million “We are pleased to have announced a short-term extension of the forbearance under our Credit Agreement last week as we continue to have...
USD Partners Announces Additional Waiver Extension Agreement Under Cre...
HOUSTON--(BUSINESS WIRE)-- USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that it has entered into an agreement (the “Second Waiver Extension Agreement”) with the lenders and administrative agent under its existing Credit Agreement to, among other things, extend the forbearance period as provided in the previously announced Waiver Extension Agreement, dated as of October 6, 2023, from its expiration date of November 3, 2023 to November 17, 2023 (the “New Expiration Date”). Pursuant to the Second Waiver Extension Agreement, the lenders and administrative agent have agreed to (...
USD Partners Announces Waiver Extension Agreement Under Credit Agreeme...
HOUSTON--(BUSINESS WIRE)-- USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that it has entered into an agreement (the “Waiver Extension Agreement”) with the lenders and administrative agent under its existing Credit Agreement to, among other things, extend the forbearance period as provided in the previously announced amendment to the Credit Agreement, dated as of August 8, 2023, from its original expiration date of October 10, 2023 to November 3, 2023 (the “New Expiration Date”). Pursuant to the Waiver Extension Agreement, the lenders and administrative agent have agreed to c...
USD Partners LP Announces Second Quarter 2023 Results
HOUSTON--(BUSINESS WIRE)-- USD Partners LP (NYSE: USDP) (the “Partnership”) announced today its operating and financial results for the three and six months ended June 30, 2023. Financial highlights with respect to the second quarter of 2023 include the following: Generated Net Income of $4.6 million Reported Net Cash Used in Operating Activities of $1.3 million, Adjusted EBITDA(1) of $5.8 million and Distributable Cash Flow(1) of $1.1 million Announced new three-month, rail-to-truck Terminalling Services Agreement with a third-party customer at the Partnership’s Stroud Terminal; the ...
USD Partners LP Receives Continued Listing Standard Notice from the NY...
HOUSTON--(BUSINESS WIRE)-- USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that it received notification from the New York Stock Exchange (“NYSE”) on July 26, 2023 that the Partnership is no longer in compliance with the NYSE’s continued minimum price criteria set forth in section 802.01C of the NYSE’s Listed Company Manual, which provides that the Partnership will be considered to be below compliance standards if the average closing price of the Common Units is less than $1.00 over a consecutive 30 trading-day period. The Partnership’s Common Units will continue to be liste...
USD Partners LP Announces Short-Term Agreement at Stroud Terminal
HOUSTON--(BUSINESS WIRE)-- USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that it has entered into a three month rail-to-truck Terminalling Services Agreement (“TSA”) with a new, third party customer at the Partnership’s Stroud, Oklahoma terminal (the “Stroud Terminal”). The short-term agreement includes take-or-pay provisions with a minimum volume commitment. The customer is entering into the agreement as a trial period to test the Stroud Terminal as a destination for its waxy crude oil production out of the Uinta Basin. If the testing period is successful, it is expected th...
USD Partners LP Announces First Quarter 2023 Results
HOUSTON--(BUSINESS WIRE)-- USD Partners LP (NYSE: USDP) (the “Partnership”) announced today its operating and financial results for the three months ended March 31, 2023. Financial highlights with respect to the first quarter of 2023 include the following: Closed on the sale of the Casper Terminal to a third party for $33.0 million in cash, subject to customary adjustments Generated Net Income of $2.0 million Reported Net Cash Used in Operating Activities of $0.6 million, Adjusted EBITDA(1) of $3.3 million and Distributable Cash Flow(1) of ($1.6) million “We were pleased to close o...
USD Partners Announces its First Quarter 2023 Earnings Release Date
HOUSTON--(BUSINESS WIRE)-- USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that the Partnership plans to report first quarter 2023 financial and operating results after market close on Wednesday, May 3, 2023. The Partnership also expects to provide information regarding the quarterly distribution for the first quarter 2023 at that time. The Partnership will host a conference call and webcast regarding first quarter 2023 results at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) on Thursday, May 4, 2023. To listen live over the Internet, participants are advised to log on t...
USD Partners LP Announces Closing of Casper Terminal Sale
HOUSTON--(BUSINESS WIRE)-- A wholly-owned subsidiary of USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that on March 31, 2023, it closed the previously announced sale of the Casper rail terminal to South 49 Holdings Ltd., a member of the Midstream Energy Partners group of companies, for a cash purchase price of approximately $33.0 million, subject to customary adjustments. Piper Sandler & Co. served as the exclusive financial advisor to the Partnership in connection with the transaction. Gibson, Dunn & Crutcher LLP served as legal advisor to the Partnership. About USD Par...
USD Partners LP Announces Sale of Casper Terminal
HOUSTON--(BUSINESS WIRE)-- A wholly-owned subsidiary of USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that it has entered into a Membership Interest Purchase Agreement (the “Purchase Agreement”) with South 49 Holdings Ltd., a member of the Midstream Energy Partners group of companies (collectively, the “Buyer”). Upon the terms and subject to the conditions set forth in the Purchase Agreement, the Partnership agreed to sell its Casper rail terminal, by means of a sale of all of the equity interests of the subsidiary which owns the terminal, to the Buyer for a cash purchase pr...
USD Partners LP Announces Annual Report on Form 10-K for the Year Ende...
HOUSTON--(BUSINESS WIRE)-- USD Partners LP (NYSE: USDP) (the “Partnership”) today announced that the Partnership filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2022, with the U.S. Securities and Exchange Commission (“SEC”). The Partnership’s Annual Report on Form 10-K is available through its website at by selecting the “SEC Filings” sub-tab under the “Investors” tab, as well as on the SEC’s website at . Interested investors may obtain a hard copy of the Annual Report on Form 10-K, including the Partnership’s financial statements, free of charge by writing to Inve...
USD Partners LP Announces Fourth Quarter and Full Year 2022 Results
HOUSTON--(BUSINESS WIRE)-- USD Partners LP (NYSE: USDP) (the “Partnership”) announced today its operating and financial results for the three months and year ended December 31, 2022. Financial highlights with respect to the fourth quarter of 2022 include the following: Generated Net Cash Provided by Operating Activities of $8.3 million, Adjusted EBITDA(1) of $13.3 million and Distributable Cash Flow(1) of $9.6 million Reported Net Loss of $3.2 million Declared a quarterly cash distribution of $0.1235 per unit ($0.494 per unit on an annualized basis) Announced that its sponsor (the “Spo...
USD Partners Announces Amendment to Existing Revolving Credit Agreemen...
HOUSTON--(BUSINESS WIRE)-- On January 31, 2023, USD Partners LP (the “Partnership”) and USD Terminals Canada ULC, an indirect, wholly-owned subsidiary of the Partnership (together with the Partnership, the “Borrowers”), and the subsidiary guarantors party thereto, entered into an amendment (the “Amendment”) to the Borrowers’ existing revolving credit agreement, dated as of November 2, 2018 (the “Credit Agreement”). Among other things, the Amendment provides the Partnership with relief from compliance with the Credit Agreement’s maximum consolidated leverage ratio and minimum consolidated inte...
USD Partners Announces Quarterly Distribution and its Fourth Quarter 2...
HOUSTON--(BUSINESS WIRE)-- USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that the Board of Directors of its general partner declared a quarterly cash distribution of $0.1235 per unit for the fourth quarter of 2022 ($0.494 per unit on an annualized basis), the same amount as distributed in the prior quarter. The Partnership also announced that its Sponsor will waive the fourth quarter distribution on all of its 17.3 million units, reducing this quarterly distribution by approximately $2.1 million. The distribution is payable on February 17, 2023, to unitholders of record at t...
USD Partners LP Announces Third Quarter 2022 Results
HOUSTON--(BUSINESS WIRE)-- USD Partners LP (NYSE: USDP) (the “Partnership”) announced today its operating and financial results for the three and nine months ended September 30, 2022. Financial highlights with respect to the third quarter of 2022 include the following: Generated Net Cash Provided by Operating Activities of $13.5 million, Adjusted EBITDA(1) of $12.3 million and Distributable Cash Flow(1) of $9.6 million Reported a Net loss of $69.4 million due primarily to a non-cash impairment of the Partnership’s intangible and long-lived assets associated with the Casper terminal Decla...
USD Partners Announces Quarterly Distribution and its Third Quarter 20...
HOUSTON--(BUSINESS WIRE)-- USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that the Board of Directors of its general partner declared a quarterly cash distribution of $0.1235 per unit for the third quarter of 2022 ($0.494 per unit on an annualized basis), the same amount as distributed in the prior quarter. The distribution is payable on November 14, 2022, to unitholders of record at the close of business on November 2, 2022. Third Quarter 2022 Earnings Release Date and Conference Call Information The Partnership plans to report third quarter 2022 financial and operating re...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.