And Houston-based natural gas company Tellurian is selling land in Louisiana as part of a $1 billion lease back, the outlet reported. To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research. NuStar (NS), Neste Boost Renewable Fuel Venture in California Automotive Designer, Manufacturer Leases 113,742 SF of Industrial Space in Pontiac, Mich. 3 Tampa, Fla., Industrial Properties Sold for $33Mln, Rochester, Minn., Apartment Property Sells for $26.9Mln, 356,222-SF Refrigerated Warehouse to Break Ground Soon in Lancaster, Texas, Dallas City Council Approves Development of 615-Unit Affordable-Housing Project, Crow Holdings to Construct 800,000-SF Industrial Building in Lancaster, Texas, Construction Underway on Rental Home Property in Princeton, Texas, Boeing Credit Union Lends $25Mln Against Tacoma, Wash., Apartments, Kairos Gets $175Mln Fannie Credit Facility from Berkadia, CRE Lending Volumes Increased by 14.5 Percent Last Year; Maturities Loom, Pyramids Crossgates Mall Faces May Mortgage Maturity, Macerich Seen Offering Niagara Falls Outlet Center for Sale, Veritas in Talks to Possibly Sell Apartments Backing Large CMBS Loan, CMBS Loan Against Phila.s Wanamaker Building Office Space Transfers to Special Servicer, Development Pros Form Imperium to Build Apartments in Southeast, Sunbelt, Partners Capital Adds Dallas-Area Acquisitions Pro, Paul Donahue Joins Greystone as Managing Director, Cushman & Wakefield Hires Michael Madden as Director of Occupier Services Group, Charlie Crowe Joins NewPoint Real Estate as Director of Originations. You can help Wikipedia by expanding it. The conference call may also be accessed through the "Investors" section of NuStar Energy L.P.s website at https://investor.nustarenergy.com. NuStar Energy posts highest fourth-quarter profit in company history Management believes these financial measures provide useful information to investors and other external users of our financial information because (i) they provide additional information about the operating performance of the partnerships assets and the cash the business is generating, (ii) investors and other external users of our financial statements benefit from having access to the same financial measures being utilized by management and our board of directors when making financial, operational, compensation and planning decisions and (iii) they highlight the impact of significant transactions. To power modern life, our communities need to stay connected to reliable, convenient and high energy density fuels. The following are reconciliations for our reported segments of operating income to segment EBITDA and adjusted segment EBITDA. NuStar, whose CEO is Brad Barron, has the option to extend its lease through two additional 10-year periods until March 2063. In 2020, we created our Sustainability Working Committee to enhance our sustainability disclosures. Form 10-K and subsequent filings with the Securities and Exchange Summers at MIC: Be Careful in the Stock Market, 2 Undervalued Stocks From the Morningstar Wide Moat Focus Index, Maybe 2022 Was the Start of the Return to Normal, Aswath Damodaran Says, First-Quarter Returns Positive Despite Banking Crisis and Fears of Recession, What Fund Investors Did With Their Money in the First Quarter, The Best iShares ETFs and BlackRock Funds, 20 Best Healthcare Companies to Invest In, Best Financial-Services Companies to Own: 2023 Edition, Undervalued Communication Services Stocks, Transparency is our policy. [3], In 2018 Inter Pipeline acquired NuStar Energy L.P.'s European bulk liquid storage business ("NuStar Europe") for cash consideration of US$270 million. This Sustainability Report continues to highlight our performance and is informed by guidance from the Energy Infrastructure Council (EIC) and the Sustainability Accounting Standards Board (SASB). The following is the reconciliation for the calculation of our Consolidated Debt Coverage Ratio, as defined in our revolving credit agreement (the Revolving Credit Agreement). NuStar Energy LP . NuStar Energy - Overview, News & Competitors | ZoomInfo.com In addition, we look forward to developing future partnerships to supply green and blue ammonia, for existing applications and for exciting future opportunities, like renewable electricity generation and safe, efficient transportation of hydrogen to power fuel-cell vehicles.[1]. NuStar Energy L.P.s Board of Directors also declared a first quarter 2023 Series A preferred unit distribution of $0.73169 per unit, a Series B preferred unit distribution of $0.66150 per unit and a Series C preferred unit distribution of $0.73881 per unit. The company is one of the largest independent liquids terminal and pipeline operators in the nation. L.P.(Calumet) for $100 million, plus closing date inventory estimated Persons interested in listen-only participation may access the conference call directly at https://edge.media-server.com/mmc/p/fnk2v7x2. As such, the expenses related to these awards are considered non-cash and added back to DCF. Reconciliation of Non-GAAP Financial Information, (Unaudited, Thousands of Dollars, Except Ratio Data). Calumet is committed to safety excellence, as well as continued A recorded version will be available two hours after the conclusion of the conference call at https://edge.media-server.com/mmc/p/fnk2v7x2. refinery produces and sells various products, including jet fuels, Read our editorial policy to learn more about our process. Base in San Antonio that includes a state-of-the-art laboratory. Persons interested in Q&A participation may pre-register for the conference call and obtain a dial-in number and passcode at https://register.vevent.com/register/BI3c790e56797c443d95909ed3a22b5f52. site: http://www.nustarenergy.com. Cautionary Statement Regarding Forward-Looking Statements. to be $15 million. NuStar Energy L.P. Oil and Gas San Antonio, TX 27,117 followers The rising star of the energy industry! 100% of the distribution is in excess of cumulative net income for purposes of Treasury Regulation Section 1.1446(f)-4(c)(2)(iii). This article about a natural gas or petroleum-related company is a stub. More >> or NuStar Energy L.P., a publicly traded master limited partnership based in San Antonio, Texas, is one of the largest independent liquids terminal and pipeline operators in the nation. of refining resources and expertise to provide the support the refinery In addition, our board of directors uses EBITDA, DCF and a distribution coverage ratio, which is calculated based on DCF, as some of the factors in its compensation determinations. Corporate Communications: 210-918-2314 / 210-410-8926, NuStar Energy L.P. Reports Strong Fourth Quarter and Full-Year 2022 Earnings Results, Copyright NuStar Energy L.P. All Rights Reserved, https://edge.media-server.com/mmc/p/bgpdnpyj, https://register.vevent.com/register/BI757a142163514824bfe28118ca3c0731, https://www.businesswire.com/news/home/20230131006184/en/. Amid high interest rates, the deal was an efficient way to gain equity quickly, while remaining good stewards of its resources, the spokesperson said. A conference call with management is scheduled for 9:00 a.m. CT on Thursday, May 4, 2023, to discuss the financial and operational results for the first quarter of 2023. SAN ANTONIO--(BUSINESS WIRE)--NuStar Energy L.P. (NYSE: NS) announced today that it has once again been recognized as one of the 100 Best Companies to Work For by Great Place To Work and Fortune Media for 2023. The 32-acre property was recently valued at about $49 million, according to the Bexar County Appraisal District. NuStar Energy L.P. Declares First Quarter 2023 Common Unit Distribution service a 12-mile pipeline between the terminal and the refinery that These adjustments represent the pro forma effects of the dispositions of the Point Tupper terminal, which was sold in April 2022, and the Eastern U.S. terminals, which were sold in October 2021. We plan to continue to optimize our business and build our financial strength and unitholder value, while we continue to safely and reliably store and transport the essential energy that fuels our lives, Barron concluded. NuStar Energy Director of Operations Chris Vratil provides a tour during construction of NuStar's tank farm in Corpus Christi in 2019. We may use it to: To learn more about how we handle and protect your data, visit our privacy center. 27, 2023-- The Partnerships combined system has approximately 95 Intern. NuStar Energy L.P. is headquartered in San Antonio, Texas and is one of the largest independent liquids terminal and pipeline operators in the nation, responsibly storing and distributing renewable fuels, ammonia, refined products, crude oil and other liquids. Income tax benefit related to impairment loss, Premium on repurchase of Series D Cumulative Convertible Preferred Units, Distributions applicable to common limited partners. Truist bought the San Antonio-based energy logistics companys building, NuStar CEO Brad Barron, Truist Financial Corp CEO William H. Rogers Jr. and 19003 West Interstate 10 (LinkedIn, Loopnet, Truist). NuStar currently has 8,708 miles of pipeline and 81 terminal and storage facilities that store and distribute crude oil, refined products and specialty liquids. Actual results may differ materially from those described in the forward-looking statements. Investor Relations: 210-918-INVR (4687) a part of a refining company with multiple refineries that has the depth Updated August 2022. NuStar has been named to this prestigious list 13 times, and is the only San Antonio-based company, one of only two energy . For more information, visit NuStar Energy L.P.s website at www.nustarenergy.com and its Sustainability page at https://sustainability.nustarenergy.com/. NuStar Energy L.P.s Board of Directors also declared a first quarter 2023 Series A preferred unit distribution of $0.73169 per unit, a Series B preferred unit distribution of $0.66150 per unit and a Series C preferred unit distribution of $0.73881 per unit. terminal and refinery, to Calumet Specialty Products Partners, Accordingly, all of NuStar Energy L.P.s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals and corporations, as applicable. $81,200 per year. NuStar Energy is an oil pipeline and terminal operator. [2] We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters. NuStar's lease is for 20 years, but it can be [] This site is protected by reCAPTCHA and the Google Our Pipeline Segment generated $176 million of EBITDA in the fourth quarter of 2022, up $27 million, or 18 percent, over fourth quarter 2021 EBITDA of $149 million, largely due to the strong performance of our Permian Crude System, said Barron. Investor Relations: 210-918-INVR (4687) While the last few years have tested our industry more than any other time in recent history, our excellent sustainability performance demonstrates the strength of our assets and resiliency of our company to meet future energy challenges. Be helpful and seek help from others when you need it. And one Adjusted distributable cash flow (DCF) was $89 million for the fourth quarter of 2022, compared to fourth quarter of 2021 DCF of $63 million. (Unaudited, Thousands of Dollars, Except Unit, Per Unit and Ratio Data), Total costs associated with service revenues, Other depreciation and amortization expense, Basic and diluted net income (loss) per common unit, Basic and diluted weighted-average common units outstanding, Consolidated Financial Information - Continued, (Unaudited, Thousands of Dollars, Except Barrel Data), Crude oil pipelines throughput (barrels/day). NuStar sells HQ for $103M in leaseback - The Real Deal SAN ANTONIO - NuStar Energy has a new chairman after its previous chairman of 21 years retired from his position on Thursday. Consolidation and Intersegment Eliminations: Prior period throughputs for our Corpus Christi North Beach terminal in the storage segment were restated consistent with current period presentation. The conference call may also be accessed through the Investors section of NuStar Energy L.P.s website at https://investor.nustarenergy.com. Persons interested in listen-only participation may access the conference call directly at https://edge.media-server.com/mmc/p/bgpdnpyj. Media, Mary Rose Brown, Executive Vice President and Chief Administrative Officer, Former H-E-B executive elected to NuStar's board of directors - San I would absolutely recommend NuStar to friends and others looking for employment. NuStar announced its plans to sell the refinery last month as part of For example, for full-year 2022, NuStar reported net income of $223 million, or $0.36 per unit, compared to net income of $38 million, or a net loss of $0.99 per unit, for the year ended 2021. For more information, visit NuStar Energy L.P.s website at www.nustarenergy.com and its Sustainability page at https://sustainability.nustarenergy.com/. Nominees, and not NuStar Energy L.P., are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors. However, excluding the non-cash charges and insurance proceeds, as well as the EPU impact from the repurchase of a portion of the Series D preferred units in the fourth quarter of 2022, our full-year 2022 adjusted net income was $250 million, or $0.92 per unit, compared to 2021 adjusted net income of $212 million, or $0.60 per unit, said Barron. The partnerships combined system has approximately 49 million barrels of storage capacity, and NuStar has operations in the United States and Mexico. NuStar Energy careers in San Antonio, TX | Indeed.com Express-News file photo Show More Show Less 2 of 14. Persons interested in listen-only participation may access the conference call directly at https://edge.media-server.com/mmc/p/fnk2v7x2. Our board of directors and management use EBITDA and/or DCF when assessing the following: (i) the performance of our assets, (ii) the viability of potential projects, (iii) our ability to fund distributions, (iv) our ability to fund capital expenditures and (v) our ability to service debt. The following is a reconciliation of EBITDA to adjusted EBITDA. As of December 31, 2021, NuStar had 1,267 employees and operated, primarily in the United States, approximately 9,935 miles of pipeline and 64 terminal and storage facilities with a combined system comprising roughly 57 million barrels of storage capacity. refinery and into an 18,000-square-foot office complex at Brooks City The first quarter common unit distribution will be paid on May 12, 2023 to holders of record as of May 8, 2023. Truist Financial Corp is buying the 1 million-square-foot campus at 19003 West Interstate 10 from NuStar Energy for $103 million, the San Antonio Business Journal reported. Please note that 100% of NuStar Energy L.P.s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. enjoyed working with them to make a tremendous amount of improvements to We expect to allocate approximately $60 million to growing our Permian system and plan to spend about $25 million to expand our West Coast Renewable Fuels Network, said Shoaf. The adjusted distribution coverage ratio was 2.02 times for full-year 2022. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. L&L, Mitsubishi default on Plaza District office tower, Bellissimo taps Tiger Woods, Justin Timberlake for massive proposed Wellington development, Estate scores approval for downtown West Palm rental project, Brookfields Gas Company Tower goes into receivership, Truist Financial Corp is buying the 1 million-square-foot campus at 19003 West Interstate 10 from NuStar Energy for $103 million, the San Antonio Business Journal. Highest Fourth Quarter Net Income and Adjusted EBITDA in Company History, Permian Crude System Volumes Hit Record-Breaking Average of 584,000 Barrels Per Day/13 Percent Above 4Q 2021, Operations Performing Well Across all Systems, Fuels Marketing Segment Up Almost $23 Million Year-Over-Year. [1]The Environmental Partnership is comprised of companies in the U.S. oil and natural gas industry committed to continuously improve the industrys environmental performance. employees received significant increases in their compensation and NuStar Energy salaries in San Antonio, TX. How we use your information depends on the product and service that you use and your relationship with us. Copyright NuStar Energy L.P. All Rights Reserved. visit NuStar Energy L.P.'s Web site at www.nustarenergy.com. The partnership's combined system has approximately 93 million barrels of storage capacity, and NuStar has operations in the United States, Canada, Mexico, the Netherlands, including Sint Eustatius in the Caribbean, and the United Kingdom. As of December 31, 2021, we had operations in the United States, Canada and Mexico. region and other U.S. shale plays, where NuStar already has extensive Mary Rose Brown, Senior Vice President,Administration: 210-918-2314maryrose.brown@nustarenergy.comWeb We expect to generate full-year 2023 net income in the range of $202 to $240 million and full-year 2023 EBITDA in the range of $700 to $760 million, said Shoaf. The Charlotte, N.C., bank acquired the Truist Buys NuStar Energys San Antonio HQ for $103Mln, KeyBank Lends $33Mln for Purchase of Bridgeport, W.Va., Apartments, Hines to Bring Mixed-Use Project to The Domain in Austin, Texas. This press release includes forward-looking statements within the Earnings per unit (EPU) for the fourth quarter of 2022 also included a $0.31 per unit premium related to the repurchase of a portion of the Series D preferred units. Senior Operator. now moves the crude to the refinery. There is for advancement and training is always available. Make a difference in your job and your community. During 2021, we continued serving our communities and ensuring they had the reliablefuels needed to power their everyday lives. For more information, visit NuStar Energy L.P.s website at www.nustarenergy.com and its Sustainability page at https://sustainability.nustarenergy.com/. $145,000 per year. especially important since we completed a joint venture for our asphalt Other notable companies have exercised land sale or leaseback maneuvers recently. NuStar had a profit of $92 million in the three months through December $75 million after adjustments for one-time items and its Permian pipeline system handled record volumes of 584,000 barrels per day. These risks, uncertainties and assumptions are discussed in NuStar Energy L.P.s 2021 annual report on Form 10-K and subsequent filings with the Securities and Exchange Commission. Excluding the effects of these items, adjusted net income was $75 million for the fourth quarter of 2022, or $0.34 per unit, compared to adjusted net income of $52 million, or $0.14 per unit, for the fourth quarter of 2021. NuStar Energy sells North Side HQ for $103 million but will stay there, SAPD calls: Body in flooded creek; man dead after hit by train. It has been working to reduce debt and the lease-buyback enables it to make money from a non-earning asset, it said. Persons interested in Q&A participation may pre-register for the conference call and obtain a dial-in number and passcode at https://register.vevent.com/register/BI3c790e56797c443d95909ed3a22b5f52. NuStar Energy Corporate Headquarters Off-Market 19003 Interstate 10 Frontage Road, San Antonio, TX 78257 This property is off-market. SAN ANTONIO--(BUSINESS WIRE)--Dec. 17, 2012-- It closed the year with debt of $3.3 billion. SAN ANTONIO -- (BUSINESS WIRE)--Mar. Expert Career Advice. efforts that benefited the surrounding community. at ExxonMobils Irving headquarters late last year in a sale-leaseback deal in December. In addition to storing and transporting the liquid fuels that power urban communities, we are proud to serve Americas farmers and rural areas where the reliability and convenience of these fuels can be even more important. Operations are managed by NuStar GP, LLC. [4], In 2019 NuStar received the first shipment of long haul Permian Crude at Corpus Christi terminal. Engineer. position for a refinery because it limits resources and available NuStar currently has 8,573 miles of pipeline; 87 terminal and storage facilities that store and distribute crude oil, refined products and . Barron continued, Our adjusted EBITDA was $197 million for the fourth quarter of 2022, which is the highest fourth quarter adjusted EBITDA in our companys history. This page is not available in other languages. Truist Buys NuStar Energy's San Antonio HQ for $103Mln This release serves as qualified notice to nominees under Treasury Regulation Sections 1.1446-4(b)(4) and (d) and 1.1446(f). NuStar will pay an average annual rent of $8.2 million during its initial 20-year lease, with two options to extend the term for 10 years each, according to a filing last month with theSecurities and Exchange Commission. Guide to Getting Your First Job. NuStar . NuStar Energy is a leading pipeline and terminal operator based in San Antonio, TX. San Antonio Business Journal Truist Bank has paid $103 million, or about $343.33/sf, for the headquarters of NuStar Energy LP in San Antonio. SAN ANTONIO--(BUSINESS WIRE)--Apr 27, 2023--NuStar Energy L.P. (NYSE: NS) today announced that its Board of Directors has declared a first quarter 2023 common unit distribution of $0.40 per unit. We intend to satisfy the vestings of these equity-based awards with the issuance of our common units. NuStar will continue to operate within a 300,000-square-foot space at the site, paying roughly $8.2 million a year in rent for the initial 20-year term of the leaseback agreement. $17.99 per hour. Privacy Policy and including a terminal in Elmendorf, TX and a pipeline connecting the Corporate Communications: 210-918-2314, NuStar Energy L.P. Declares First Quarter 2023 Common Unit Distribution and Series A, Series B and Series C Preferred Units Distributions, Copyright NuStar Energy L.P. All Rights Reserved, https://edge.media-server.com/mmc/p/fnk2v7x2, https://register.vevent.com/register/BI3c790e56797c443d95909ed3a22b5f52, https://www.businesswire.com/news/home/20230427005881/en/. costs, it also is expected to reduce refinery unplanned outages and Nustar Energy Company Profile - Craft NuStar Energy L.P., a publicly traded master limited partnership based in San Antonio, Texas, is one of the largest independent liquids terminal and pipeline operators in the nation. The preferred unit distributions will be paid on June 15, 2023 to holders of record as of June 1, 2023. NuStar owns 8,700 miles of pipeline and 79 terminal and storage facilities that store and distribute crude oil, refined products and specialty liquids.[2]. For more information, visit NuStar Energy L.P.s website at www.nustarenergy.com and its Sustainability page at https://sustainability.nustarenergy.com/. Project Manager. They are the reason that the best is yet to come for NuStar! The energy organization reported $75 million in adjusted net income for the fourth quarter of 2022, which was an increase of $21 million to quarter four 2021. Suzanne Wade, former president of H-E-B San Antonio's Food and Drug Division, was. its strategic redirection away from the earnings volatility associated View source version on businesswire.com: https://www.businesswire.com/news/home/20230427005881/en/, Investors, Pam Schmidt, Vice President, Investor RelationsInvestor Relations: 210-918-INVR (4687)orMedia, Mary Rose Brown, Executive Vice President and Chief Administrative Officer,Corporate Communications: 210-918-2314, https://edge.media-server.com/mmc/p/fnk2v7x2, https://register.vevent.com/register/BI3c790e56797c443d95909ed3a22b5f52, https://www.businesswire.com/news/home/20230427005881/en/, Australian 7-Eleven franchise puts 700-store chain up for sale, UPDATE 1-Sudan conflict shows no sign of easing, Sudanese brace for more violence, Saudi's United Electronics Co shelves plans for Egypt expansion, Alibaba's Jack Ma turns up in Japan as college professor, Japan's Nikkei crosses 29,000 as yen weakens on BOJ's dovish stance. To significantly improve efficiency, NuStar built and recently put into The atmosphere is nearly stress free and the people here make it fun to work here. The NuStar Energy L.P. board of directors elected its newest member, a former top-level H-E-B LP executive. We also respect individual opinionsthey represent the unvarnished thinking of our people and exacting analysis of our research processes. Anastasio. The partnerships combined system has approximately 49 million barrels of storage capacity, and NuStar has operations in the United States and Mexico. At NuStar Energy L.P., we firmly believe that if you take care of the employees, they will take care of the company, its customers, investors and communities.
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