Genesis Energy LP - Company Profile
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Business Description
Genesis Energy LP (Genesis), a midstream service provider, serves refiners, crude oil and natural gas producers, and industrial and commercial enterprises. The company operates through four reportable segments: Offshore Pipeline Transportation, Sodium Minerals & Sulfur Services, Onshore Facilities & Transportation and Marine Transportation. The company primarily operate in the Gulf Coast region of the United States, Wyoming, and the Gulf of Mexico. In FY2024, the capital expenditure of the company stood at US$459 million, which was 15.5% of its total revenue and declined 33.6% YoY.
Business Segments
- Marine Transportation
- Offshore Pipeline Transportation
- Onshore Facilities & Transportation
- Soda Minerals & Sulfur Services
Overview
Operates through inland marine fleet, which transports heavy refined petroleum products to refineries and storage terminals along the Gulf Coast, Intracoastal Canal and Mississippi River and its tributaries. Offshore marine fleet transports crude oil and refined petroleum products to refineries and storage terminals along the Gulf Coast, Eastern Seaboard, Great Lakes and Caribbean. In FY2024, the segment incurred a capital expenditure of US$91.8 million, which grew 115% YoY.
Performance
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Overview
Provides infrastructure such as offshore crude oil and natural gas pipelines, and offshore hub platforms to move oil produced from reservoirs from the deepwater Gulf of Mexico to onshore refining centers. Owns interests in crude oil and natural gas pipelines and related infrastructure in the Gulf of Mexico. Owns 64% interest in Cameron Highway pipeline system, 100% interest in Southeast Keathley Canyon Pipeline System and 64% interest in the Poseidon pipeline system. In FY2024, the segment incurred a capital expenditure of US$255.6 million, which declined 37.7% YoY.
Performance
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Overview
Includes purchasing, transporting, storing, blending, and marketing of crude oil and refined products primarily fuel oil, asphalt, and other heavy refined products. Provides services to Gulf Coast crude oil refiners and producers. Owns four onshore crude oil pipeline systems located primarily in Alabama, Florida, Mississippi and Texas and four crude oil rail loading/unloading facilities in Baton Rouge, Louisiana; Raceland, Louisiana; Walnut Hill, Florida; and Natchez, Mississippi. In FY2024, the segment incurred a capital expenditure of US$16.3 million, which declined 14.4% YoY.
Performance
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Overview
Includes sulfur removal business and processing of sour gas streams to remove sulfur at refining operations. Sulfur removal business provides services to ten refining operations located mostly in Texas, Louisiana, Arkansas, Oklahoma, Montana and Utah. Operates storage and transportation assets for sulfur removal business and also markets sodium hydrosulfide (NaHS) and sodium hydroxide (NaOH) to large industrial and commercial enterprises. In FY2024, the segment incurred a capital expenditure of US$95.3 million, which declined 56.5% YoY.
Performance
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