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News Breaks | | | | October 10, 2012 | | 07:03 EDT |  | GEL | Genesis Energy increase quarterly distribution 10.5% year over year to 47.25c
Genesis Energy will pay a regular quarterly distribution of 47.25c per common unit for the quarter ended September 30. The distribution will be paid on November 14 to common unitholders of record at the close of business on November 1. This distribution represents an increase of approximately 10.5% over the Q3 2011 distribution of 42.75c per unit and an approximate 2.7% increase over the distribution paid with respect to Q2. . | |
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News For GEL From The Last 14 Days Check below for free stories on GEL the last two weeks. |
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| May 21, 2013 | | 07:17 EDT | | GEL | Genesis Energy to expand rail terminal in Natchez, Mississippi
Genesis Energy announced it will expand its existing rail terminal in Natchez, Mississippi designed to handle straight and/or minimally diluted bitumen delivered by the Canadian National Railway and construct a new unit train loading facility in the heart of the Powder River Basin of the Niobrara Shale Play. At the Natchez terminal, Genesis is finalizing Phase I of the facility which includes 40 railcar spots to be completed in June. Due to significant demand for the flexible capacity at the facility, Genesis is moving forward with a Phase II expansion to provide an additional 60 railcar spots and additional heated tanks to be fully operational in late 2013. locations. The total cost to Genesis of the Natchez Phase II and Pronghorn Rail Facility projects is expected to be approximately $75M. Genesis intends to finance the projects with funds available under its committed revolving credit facility. | |
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