Further debt reduction will provide the Partnership with a more flexible capital structure, which will enable the Partnership to further enhance liquidity as it continues to execute on strategic growth initiatives. The forward-looking statements herein speak as of the date of this press release.
EST today, Andeavor Logistics will hold a conference call and webcast to discuss reported results and provide an update on operations. The closing of the Partnership's Marine Products Terminals divestiture further strengthens the Partnership's liquidity position.
Many of the factors that will determine these results are beyond our ability to control or predict. Harry has considerable experience in most aspects of the energy industry, including: In these roles, Scott was responsible for guiding Pembina through its corporate-level financial analyses of business opportunities in addition to strategic development and planning, acquisitions and divestitures.
The transaction demonstrates the Partnership's continued ability to execute on its strategy of generating internal capital from high value non-core assets.
Closing of the sale of the Marine Products Terminals is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Act.
The immediate use of these proceeds will go toward reducing indebtedness under the Partnership's revolving credit facility, as well as general corporate purposes.
Further debt reduction will provide the Partnership with a more flexible capital structure, which will enable the Partnership to further enhance liquidity as it continues to execute on strategic growth initiatives.
While the Southcross combination provided compelling growth opportunities, the Partnership was unable to arrange a prudent financing plan to consummate the transaction. For more information, visit www.
About American Midstream Partners, LP American Midstream Partners, LP is a growth-oriented limited partnership formed to provide critical midstream infrastructure that links producers of natural gas, crude oil, NGLs and condensate to end-use markets.
The Partnership will begin actively remarketing the Refined Products Terminals. The divestiture of the Marine Products Terminals further simplifies AMID's business profile, providing the foundation to further scale the Partnership's core strategic assets.
We undertake no obligation to update such statements for any reason, except as required by law. The seller has to bear all the costs and risks involved in bringing the goo DESP: The distribution coverage ratio was 1. Before joining Pembina in NovemberScott spent seven years in energy-focused investment banking where he provided advice and counsel related to mergers and acquisitions, dispositions, joint ventures and equity and debt financings.
Doug Rotenberg Bio will be provided shortly. Customers benefit from our experience and expertise in design, estimating, building and managing commercial construction projects. Penalty if cargo is not ready when ship arrives for working 1st day of Laycan. We have used the words "could," "expect," "intend," "may," "strive," "will," "would," and similar terms and phrases to identify forward-looking statements in this press release.
Conference Call At 9 a.related to crude oil spreads and their impact on demand for our terminalling our ability to successfully implement our business plan; our ability to complete growth projects on time and on budget; hazards and operating party facilities on which our business is dependent; the effects of future.
The partnership operates in four business segments: Terminalling and Storage, Natural Gas Services, Marine Transportation, and Sulfur Services. Closely held, Martin Resource Management Corporation owns and controls the Company's general partner.
History, Business Overview, and Transition. Founded inAmerican Midstream operates a highly diverse set of midstream portfolio assets: 9, miles of pipeline assets (natural gas, crude oil.
other terminalling facilities; shut-downs or cutbacks at upstream production facilities, or refineries, petrochemical plants or other businesses to which we transport products; the supply of, and demand for, crude oil and biofuel rail terminalling.
“Business Day” means a day, other than a Saturday or Sunday, on which banks in New York, New York are open for the general transaction of business. • Highly fragmented international terminalling and storage industry provides opportunity for consolidation • Top 10 independents own 16% of terminalling capacity in international market, versus 53% in the U.S.Download