Delek Logistics Partners LP is a master limited partnership that primarily focuses on providing logistics and transportation services related to crude oil and refined petroleum products
The company operates a network of pipelines, terminals, and storage facilities across various regions, facilitating the efficient movement and storage of energy resources. Through its strategic infrastructure, Delek Logistics plays a critical role in supporting the energy sector by ensuring the reliable distribution of fuel to meet market demand, while also providing third-party logistics services to enhance operational efficiency for its partners and clients.
Delek Logistics Partners, LP (NYSEDKL) (“Delek Logistics”) today declared its quarterly cash distribution for the fourth quarter 2024 of $1.105 per common limited partner unit, or $4.42 per common limited partner unit on an annualized basis. The fourth quarter 2024 cash distribution is payable on February 11, 2025, to unitholders of record on February 4, 2025.
Delek Logistics Partners, LP (NYSEDKL) (“Delek Logistics”) announced today the closing of the previously announced acquisition of Gravity Water Intermediate Holdings LLC (“Gravity”).
Delek Logistics Partners, LP (NYSEDKL) (“Delek Logistics” or “DKL”) announced the development of permitted acid gas injection “AGI” capabilities at its under-construction Libby 2 gas processing plant.
Delek Logistics Partners, LP (NYSEDKL) (“Delek Logistics”) today declared its quarterly cash distribution for the third quarter 2024 of $1.10 per common limited partner unit, or $4.40 per common limited partner unit on an annualized basis. The third quarter 2024 cash distribution is payable on November 14, 2024, to unitholders of record on November 8, 2024.
Delek Logistics Partners pays a high yield, over 10% with shares near a long-term low, and the insiders are buying it. Analysts and institutions also buy.
Delek Logistics Partners shares are trading lower by 12% Wednesday afternoon. The company priced its public offering of 3.85 million common units at $39.00 per unit.
Delek Logistics Partners, LP (NYSEDKL) (“Delek Logistics”) announced today the pricing of its underwritten public offering of 3,846,153 common units representing limited partner interests in Delek Logistics at $39.00 per unit. The offering is being made pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement relating to the offering has also been filed with the SEC. Delek Logistics has granted the underwriters a 30-day option to purchase up to 576,922 additional common units. Delek Logistics intends to use the net proceeds from the offering (including any net proceeds from the underwriters’ exercise of their option to purchase additional common units) to redeem its outstanding convertible preferred units and to repay outstanding borrowings under its revolving credit agreement.
Delek Logistics Partners, LP (NYSEDKL) (“Delek Logistics”) announced today that it has commenced an underwritten public offering of $150,000,000 of common units representing limited partner interests in Delek Logistics pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement relating to the offering will also be filed with the SEC. Delek Logistics intends to grant the underwriters a 30-day option to purchase up to an additional $22,500,000 of common units. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Delek Logistics Partners, LP (NYSEDKL) (“Delek Logistics”) announced today the execution of a 12-year acreage dedication & crude oil gathering agreement for an additional 50,000 acres with an independent oil and gas producer. The additional acreage is supported by Delek Logistics’ Permian Gathering System (DPG) located in West Texas. This transaction also includes a minimum volume commitment and increases DPG’s total acreage dedication to over 350,000 acres. This agreement is immediately accretive to DKL’s EBITDA profile and provides opportunities for incremental value creation through operational efficiencies.
Delek Logistics Partners, LP (NYSEDKL) (“Delek Logistics”) today announced that the Partnership intends to issue a press release summarizing third quarter 2024 results before the U.S. stock market opens on Wednesday, November 6, 2024. A conference call to discuss these results is scheduled to begin at 10:30 a.m. CT (11:30 a.m. ET) on Wednesday, November 6, 2024.
Delek Logistics Partners, LP (NYSEDKL) (“Delek Logistics”) announced today the closing of the previously announced acquisition of H2O Midstream, a portfolio company of EIV Capital, LLC. The H2O Midstream operations include water gathering, transportation, recycling, storage and disposal services in the Midland Basin in Texas. Total consideration of $230 million consists of $160 million in cash at closing (excluding customary closing adjustments) and $70 million of convertible preferred redeemable equity. The transaction is being funded with cash and debt financing.
Delek Logistics Partners, LP (NYSEDKL) (“Delek Logistics”) announced today that it, along with Delek Logistics Finance Corp., a subsidiary of Delek Logistics (together with Delek Logistics, the “Issuers”), priced an upsized offering of $200 million in aggregate principal amount of additional 8.625% senior notes due 2029 (the “Additional Notes”) at an offering price equal to 103.250% of their face value, plus accrued interest from March 13, 2024. The aggregate principal amount of the offering was increased from the previously announced offering size of $100 million.
Delek Logistics Partners, LP (NYSEDKL) (“Delek Logistics”) announced today that it, along with Delek Logistics Finance Corp., a subsidiary of Delek Logistics (together with Delek Logistics, the “Issuers”), intends to offer $100 million in aggregate principal amount of additional 8.625% senior notes due 2029 (the “Additional Notes”) in a private placement to eligible purchasers, subject to market conditions. The Additional Notes will be issued under the same indenture as the $650 million in aggregate principal amount of 8.625% senior notes due 2029 issued by the Issuers on March 13, 2024 and the $200 million in aggregate principal amount of 8.625% senior notes due 2029 issued by the Issuers on April 12, 2024 (collectively, the “Existing Notes”) and will form a part of the same series of notes as the Existing Notes.
