Seeking Alpha

Genesis Energy, L.P. (GEL)

  • Jul. 22, 2013, 5:36 PM
    Genesis Energy (GEL) expands its marine business by acquiring all assets of the downstream transportation business of Hornbeck Offshore Services (HOS) for $230M. The business consists primarily of nine barges and nine tug boats which transport crude oil and refined petroleum products. GEL expects the acquisition to be immediately accretive to its distributable cash flow.
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Company Description
Genesis Energy LP provides onshore pipeline transportation of crude oil and carbon dioxide, offshore pipeline transportation of crude oil in the Gulf of Mexico, refinery services, marine transportation, and supply and logistics service.