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SMALL BUSINESS
Genesis Energy, L.P. Increases Quarterly Distribution
Genesis Energy, L.P. (AMEX:GEL) announced today that it will pay a regular quarterly distribution of $0.3525 per Common Unit for the quarter ended September 30, 2009. The distribution will be paid on November 13, 2009, to Common Unitholders of record at the close of business on November 2, 2009. This distribution represents an increase of approximately 9.3% over the third quarter 2008 quarterly distribution of $0.3225 per unit. This is the seventeenth 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.