USD Partners LP
usdpartners.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Nov 7, 2023. Its latest SEC filing is a 144 from Mar 28, 2024.
10-Q for Q3 FY2023, filed Nov 7, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Operates terminals that load, unload, store and move crude oil and biofuels for producers, refiners and marketers, and provides railcars and fleet services for liquid-hydrocarbon transport.
10-K for FY2022, filed Mar 2, 2023We are a fee-based, growth-oriented master limited partnership formed in 2014 by US Development Group LLC, or USD, to acquire, develop and…View ↗
The following table summarizes information about our current terminalling facility assets:View ↗
The Terminalling services segment includes a network of strategically-located terminals that provide customers with railcar loading and/or…View ↗
Who Were Their Customers?
The terminals serve crude oil producers, refiners and marketers, as well as refiners and blenders handling biofuels; fleet services are provided to a customer moving liquid hydrocarbons by rail.
10-K for FY2022, filed Mar 2, 2023We are a fee-based, growth-oriented master limited partnership formed in 2014 by US Development Group LLC, or USD, to acquire, develop and…View ↗
The following table summarizes information about our current terminalling facility assets:View ↗
We manage our businesses in two reportable segments: Terminalling services and Fleet services. The Terminalling services segment charges…View ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q3 FY2023, filed Nov 7, 2023
−$2.8MView ↗
- ▼ −96% (Loss)
- vs −$69.4M in Q3 FY2022
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Nov 24, 2023
Credit amendment requires sale of the West Colton Terminal
It also extends the credit agreement maturity to November 2, 2024, waives prior defaults and directs disposition proceeds to debt repayment.
Sources
8-K, filed Nov 24, 2023
Among other things, the Amendment extends the maturity date under the Credit Agreement to November 2, 2024 and waives prior defaults under…View ↗
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Nov 16, 2023
NYSE suspended trading and began delisting proceedings
The units began trading on the OTC Pink Market after the suspension.
Sources
8-K, filed Nov 16, 2023
On November 15, 2023, USD Partners LP (the “Partnership”) received a written notice from the staff of NYSE Regulation notifying the…View ↗
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Apr 4, 2023
Sold the Casper rail terminal
A subsidiary completed the sale to South 49 Holdings Ltd. for approximately $33 million in cash, subject to customary adjustments.
Sources
8-K, filed Apr 4, 2023
On March 31, 2023, USDP CCR LLC (the “Seller”), an indirect, wholly-owned subsidiary of USD Partners LP (the “Partnership”), completed the…View ↗
Hardisty South ownership
The older report described Hardisty South as a USDG expansion subject to a right of first offer; the latest says USD Partners acquired the terminal assets from USDG.
10-K for FY2019, filed Mar 5, 2020 10-K for FY2022, filed Mar 2, 2023USD Group LLC, or USDG, a wholly-owned subsidiary of USD and the sole owner of our general partner, is engaged in designing, developing…View ↗
Our Hardisty Terminal, which commenced operations in June 2014, is an origination terminal where we load various grades of Canadian crude…View ↗
Biofuels at West Colton
The older report listed ethanol at West Colton; the latest adds renewable diesel alongside ethanol.
10-K for FY2019, filed Mar 5, 2020 10-K for FY2022, filed Mar 2, 2023Terminal Name Location Designed Capacity (Bpd) CommodityHandled PrimaryCustomers TerminalType Hardisty terminal Alberta, Canada ~150,000…View ↗
The following table summarizes information about our current terminalling facility assets:View ↗
Fleet services
The earlier report covered liquid hydrocarbons and biofuels; the latest focuses the fleet offering on liquid hydrocarbons and says it plans to stop arranging railcar leases after the current lease expires.
10-K for FY2019, filed Mar 5, 2020 10-K for FY2022, filed Mar 2, 2023In addition to terminalling services, we currently provide a customer with leased railcars and fleet services related to the transportation…View ↗
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