Genesis Energy LP Enters/Terminates Agreements, Creates Obligation
Ticker: GEL · Form: 8-K · Filed: Jul 23, 2024 · CIK: 1022321
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation, agreement-termination
TL;DR
Genesis Energy just signed and broke some major deals, and now owes money.
AI Summary
On July 19, 2024, Genesis Energy, L.P. entered into a material definitive agreement and terminated another. The company also created a direct financial obligation or an off-balance sheet arrangement. Specific details regarding the nature of these agreements and obligations were not provided in this filing.
Why It Matters
This filing indicates significant changes in Genesis Energy's contractual and financial commitments, which could impact its future operations and financial health.
Risk Assessment
Risk Level: medium — The filing indicates material definitive agreements were entered into and terminated, along with the creation of financial obligations, suggesting potential shifts in the company's financial structure and operational agreements.
Key Players & Entities
- Genesis Energy, L.P. (company) — Registrant
- July 19, 2024 (date) — Date of earliest event reported
FAQ
What was the nature of the material definitive agreement entered into by Genesis Energy, L.P. on July 19, 2024?
The filing states that Genesis Energy, L.P. entered into a material definitive agreement on July 19, 2024, but does not provide specific details about its nature.
What was the nature of the material definitive agreement terminated by Genesis Energy, L.P. on July 19, 2024?
The filing indicates that Genesis Energy, L.P. terminated a material definitive agreement on July 19, 2024, but does not specify the details of this agreement.
What type of financial obligation did Genesis Energy, L.P. create on July 19, 2024?
Genesis Energy, L.P. created a direct financial obligation or an obligation under an off-balance sheet arrangement on July 19, 2024, as reported in the filing, without further elaboration.
What is the principal executive office address for Genesis Energy, L.P.?
The principal executive offices of Genesis Energy, L.P. are located at 811 Louisiana, Suite 1200, Houston, Texas 77002.
What is the telephone number for Genesis Energy, L.P.?
The telephone number for Genesis Energy, L.P., including area code, is (713) 860-2500.
Filing Stats: 1,018 words · 4 min read · ~3 pages · Grade level 11.1 · Accepted 2024-07-23 07:00:32
Key Financial Figures
- $900 million — The New Credit Agreement provides for a $900 million senior secured revolving facility with
- $1.05 billion — he aggregate size of the facility up to $1.05 billion subject to lender consent and certain o
- $150 million — ditions; provided that (i) if more than $150 million of our 8.000% senior notes due 2027 rem
Filing Documents
- d778740d8k.htm (8-K) — 27KB
- 0001193125-24-182572.txt ( ) — 147KB
- gel-20240719.xsd (EX-101.SCH) — 3KB
- gel-20240719_lab.xml (EX-101.LAB) — 18KB
- gel-20240719_pre.xml (EX-101.PRE) — 11KB
- d778740d8k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GENESIS ENERGY, L.P. (a Delaware limited partnership) By: GENESIS ENERGY, LLC, as its sole general partner Date: July 23, 2024 By: /s/ Kristen O. Jesulaitis Kristen O. Jesulaitis Chief Financial Officer and Chief Legal Officer