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Genesis Energy, L.P. Increases Quarterly Distribution

Business Wire
posted: 134 DAYS 19 HOURS AGO

Genesis Energy, L.P. (AMEX:GEL) announced today that it will pay a regular quarterly distribution of $0.345 per Common Unit for the quarter ended June 30, 2009. The distribution will be paid on August 14, 2009, to Common Unitholders of record at the close of business on August 4, 2009. This distribution represents an increase of approximately 9.5% over the second quarter 2008 quarterly distribution of $0.315 per unit. This is the sixteenth consecutive quarter in which Genesis has increased its quarterly distribution.

Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis engages in four business segments. The Pipeline Transportation Division is engaged in the pipeline transportation of crude oil, carbon dioxide and, to a lesser extent, natural gas. The Refinery Services Division primarily processes sour gas streams to remove sulfur at refining operations, principally located in Texas, Louisiana, and Arkansas. The Supply and Logistics Division is engaged in the transportation, storage and supply of energy products, including crude oil and refined products. The Industrial Gases Division produces and supplies industrial gases such as carbon dioxide and syngas. Genesis’ operations are primarily located in Texas, Louisiana, Arkansas, Mississippi, Alabama, and Florida.

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