Showing 1-10 of about 28 articles.
Buckeye Partners, L.P.
Buckeye Partners, L.P. Reports 2013 First Quarter Results; Increases Quarterly Cash Distribution
HOUSTON, May 3, 2013 (GLOBE NEWSWIRE) -- Buckeye Partners, L.P. ("Buckeye") (NYSE:BPL) today reported net income attributable to Buckeye's unitholders for the first quarter of 2013 of $89.3 million, or $0.86 per diluted unit, compared to net income attributable to Buckeye's unitholders for the first quarter of 2012 of $52.0 million, or $0.54 per diluted unit. Buckeye's Adjusted EBITDA (as defined below) for the first quarter of 2013 was $158.8 million compared with Adjusted EBITDA of $115.0 million for the first quarter of 2012. Operating income for the first quarter of 2013 was $119.1 million compared to $80.7 million for the first quarter of 2012.
Buckeye Partners, L.P.
FERC Confirms Buckeye's Current Tariff Rates and Authorizes Future Changes Under FERC Standard Ratemaking Methods, Sending NYC Airport Rates to Settlement Process
HOUSTON, Feb. 25, 2013 (GLOBE NEWSWIRE) -- Buckeye Partners, L.P. (NYSE:BPL) ("Buckeye") announced that, on February 22, 2013, the Federal Energy Regulatory Commission ("FERC") issued two orders related to previously announced proceedings pending before FERC involving one of Buckeye's operating subsidiaries, Buckeye Pipe Line Company, L.P. ("Buckeye Pipe Line"). The first order (the "Ratemaking Methodology Order") permits Buckeye Pipe Line to continue charging its current tariff rates and gives Buckeye Pipe Line full market-based-rate authority in markets FERC previously found to be competitive. This change allows Buckeye Pipe Line to set future rates in these markets based solely on competitive forces, without the limits that had been imposed under its previous unique ratemaking program. The order, which discontinues that earlier program, also authorizes Buckeye Pipe Line to file future rates in its remaining markets pursuant to any of the methodologies permitted by FERC regulations, including in accordance with the generic FERC index. The second order (the "Airline Complaint Order") relates to the complaint filed by several airlines challenging Buckeye Pipe Line's rates for transportation of jet fuel to three New York City area airports. This order sets the matter for hearing, but orders that such hearing be held in abeyance pending the outcome of FERC-ordered settlement discussions between the parties, which are to be facilitated by a FERC-appointed settlement judge.
Buckeye Partners, L.P.
Buckeye Partners, L.P. Reports 2012 Fourth Quarter and Full Year Earnings Results and Declares Cash Distribution
HOUSTON, Feb. 8, 2013 (GLOBE NEWSWIRE) -- Buckeye Partners, L.P. ("Buckeye") (NYSE:BPL) today reported its financial results for the fourth quarter and full year 2012. Buckeye reported net income attributable to Buckeye's unitholders for the fourth quarter of 2012 of $94.9 million, or $0.96 per diluted unit (excluding a non-cash impairment charge of $60.0 million related to the ceasing of operations of a portion of Buckeye's NORCO pipeline system in January 2013), compared to net income attributable to Buckeye's unitholders for the fourth quarter of 2011 of $59.7 million, or $0.64 per diluted unit. Buckeye's Adjusted EBITDA (as defined below) for the fourth quarter of 2012 was $172.0 million compared to $121.5 million for the fourth quarter of 2011. Operating income for the fourth quarter of 2012, excluding the impairment charge, was $122.4 million compared to $87.7 million for the fourth quarter of 2011. Including the impairment charge, net income attributable to Buckeye's unitholders and operating income for the fourth quarter of 2012 were $35.0 million, or $0.35 per diluted unit, and $62.5 million, respectively.
Buckeye Partners, L.P.
Buckeye Partners, L.P. Prices Offering of Limited Partnership Units
HOUSTON, Jan. 24, 2013 (GLOBE NEWSWIRE) -- Buckeye Partners, L.P. ("Buckeye") (NYSE:BPL) announced today that it has priced a public offering of 6,000,000 limited partnership units representing limited partner interests ("LP Units") pursuant to an effective shelf registration statement at $52.54 per unit. The underwriters have been granted an option to purchase up to 900,000 additional LP Units. Buckeye intends to use the net proceeds from this offering to reduce the indebtedness outstanding under its revolving credit facility.
Buckeye Partners, L.P.
Buckeye Partners, L.P. to Offer Limited Partnership Units
HOUSTON, Jan. 23, 2013 (GLOBE NEWSWIRE) -- Buckeye Partners, L.P. ("Buckeye") (NYSE:BPL) announced today that it has commenced a public offering of 6,000,000 limited partnership units representing limited partner interests ("LP Units") pursuant to an effective shelf registration statement. Buckeye expects to grant the underwriters an option to purchase up to 900,000 additional LP Units. Buckeye intends to use the net proceeds from this offering to reduce the indebtedness outstanding under its revolving credit facility.
Showing 1-10 of about 28 articles.