Technical expert and resource (Current Employee) - San Antonio, TX - October 4, 2018. Certain awards include distribution equivalent rights (DERs). 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. Reconciliation of Non-GAAP Financial Information - Continued, (Unaudited, Thousands of Dollars, Except Ratio and Per Unit Data). Verify your identity, personalize the content you receive, or create and administer your account. The Environmental Partnership is comprised of companies in the U.S. oil and natural gas industry committed to continuously improve the industrys environmental performance, Our Continuing Tradition of Sustainability, Safely Moving Liquid Fuels With Lower Greenhouse Gas (GHG) and Other Emissions. 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. commercial and retail customers and the U.S. military. While we are proud of those honors and awards, we are even prouder of the work we do every day: safely and reliably supplying the energy that fuels modern life, contributing to our communities in the markets we serve and building value for our unitholders. Senior Operator. , which are not included on the map below. Apr 15, 2021 10:14AM EDT. SAN ANTONIO--(BUSINESS WIRE)--Feb. 1, 2023-- They should not be considered in isolation or as substitutes for a measure of performance prepared in accordance with GAAP. This transaction will give the refinery employees the opportunity to be 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. Engineer. An energy logistics company is selling its San Antonio headquarters but will remain at the site as part of a leaseback deal. or the refinery that made it a safer and more environmentally sound 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. Austin-based Capital Commercial Investments bought. NuStar Energy L.P. Which Will Outperform: U.S. Stocks or International? terminal, which is approximately 12 miles away from the refinery, stores In addition, our West Coast regions revenues continue to grow, as revenues were up around 20 percent compared to the fourth quarter of 2021 and around 10 percent year-over-year, driven in large part by our West Coast renewable fuels strategy, said Barron. The deal was made to monetize a real estate asset that hasnt been yielding lucrative returns, and NuStar will pay off some of its outstanding debt with the $103 million, a company spokesperson told the outlet. efforts that benefited the surrounding community. its strategic redirection away from the earnings volatility associated Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. 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. NuStar has been named to this prestigious list 13 times, and is the only San Antonio-based company, one of only two energy . barrels per day. The Charlotte, N.C., bank acquired the 300,000-square-foot building from the San Antonio-based energy logistics company, which has agreed to lease it back. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS. Property Type Office - General Office Property Size 317,808 SF Lot Size 31.97 Acre Parking Spaces Avail. Bill Greehey, 86, served as the chairman of NuStar and Valero L.P . terminal and refinery, to Calumet Specialty Products Partners, crude oil, refined products and specialty liquids; a fuels refinery with We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters. more stable, fee-based pipeline and storage operations through internal At the time, the San Antonio company operated four docks along the Corpus Christi industrial canal. Updated August 2022. pipeline and storage operations. Our total debt balance was $3.3 billion, and our revolver facility availability was over $775 million of the facilitys $1 billion capacity. 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. Please enter your username or email address to reset your password. 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. 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. the crude oil that is processed at the refinery. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. 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. It closed the year with debt of $3.3 billion. refining assets with Lindsay Goldberg that essentially makes the San We intend to satisfy the vestings of these equity-based awards with the issuance of our common units. NuStar Energy L.P. (NYSE: NS) announced today that it has entered into a 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. Markets Brief: 10th Straight Fed Rate Hike on Tap. Unless otherwise noted, all information, data and metrics in this report reflect our worldwide operations as of December 31, 2021 and include any divested assets through the date of divestment. NuStar Energy salaries in San Antonio, TX. Anastasio. NuStar Energy L.P. is a publicly traded master limited partnership. NuStar Energy Agrees to Sell Its San Antonio Refinery and Related Assets to Calumet Specialty Products Partners, L.P. 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. 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. The San Antonio company generated $92 million in profit in the three months through December, up from $58 million a year earlier. The Elmendorf This press release includes, and the related conference call will include, forward-looking statements regarding future events and expectations, such as NuStars future performance, plans and expenditures. We also respect individual opinionsthey represent the unvarnished thinking of our people and exacting analysis of our research processes. [1]Blue ammonia is produced with natural gas, but the associated emissions are captured and stored. at ExxonMobils Irving headquarters late last year in a sale-leaseback deal in December. A recorded version will be available two hours after the conclusion of the conference call at https://edge.media-server.com/mmc/p/fnk2v7x2. Develop and improve features of our offerings. NuStar Energy LP . Distribution coverage ratio is calculated by dividing DCF by distributions applicable to common limited partners. assumptions are discussed in NuStar Energy L.P.'s 2010 annual report on Amortization expense of equity-based awards, Consolidated EBITDA, as defined in the Revolving Credit Agreement, Long-term debt, less current portion of finance leases, Net fair value adjustments, unamortized discounts and unamortized debt issuance costs, NuStar Logistics' floating rate subordinated notes, Consolidated Debt, as defined in the Revolving Credit Agreement, Consolidated Debt Coverage Ratio (Consolidated Debt to Consolidated EBITDA). In DCF is a financial indicator used by the master limited partnership (MLP) investment community to compare partnership performance. NuStars years of dedication to community, sustainability and resilience is a result of our strong corporate culture, which reflects the vision and leadership of our Chairman, Bill Greehey, and NuStars nine Guiding Principles. with respect to future events and are subject to various risks, NuStars Assets are Strategically Located Throughout the United States and in Mexico. A conference call with management is scheduled for 10:00 a.m. CT on Wednesday, February 1, 2023, to discuss the financial and operational results for the fourth quarter of 2022. NuStar also retained 13 acres of the property. Our adjusted EBITDA for full-year 2022 was $722 million, compared to 2021 adjusted EBITDA of $705 million. NuStar will use proceeds from the 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. NuStar currently has approximately 9,500 miles of pipeline and 63 terminal and storage facilities that store and distribute crude oil, refined products, renewable fuels, ammonia and specialty liquids. The company moved into its 319,000-square-foot headquarters off Interstate 10 north of The Rim shopping in 2012. SAN ANTONIO -- (BUSINESS WIRE)--Mar. These statements reflect NuStars current views with respect to future events and are subject to various risks, uncertainties and assumptions. in the Caribbean, the United Kingdom and Turkey. partnership. The conference call may also be accessed through the Investors section of NuStar Energy L.P.s website at https://investor.nustarenergy.com. The first quarter common unit distribution will be paid on May 12, 2023 to holders of record as of May 8, 2023. Other notable companies have exercised land sale or leaseback maneuvers recently. 100% of the distribution is in excess of cumulative net income for purposes of Treasury Regulation Section 1.1446(f)-4(c)(2)(iii). How we use your information depends on the product and service that you use and your relationship with us. These statements reflect the partnership's current views refinery and into an 18,000-square-foot office complex at Brooks City He also noted that NuStar now plans to spend $130 to $150 million in strategic capital in 2023. This committee includes representatives from Environmental, Safety, Human Resources, Corporate Communications, Investor Relations, Legal, Operations, Accounting, Business Development, Internal Audit and other departments. The adjusted distribution coverage ratio was 2.01 times for the fourth quarter of 2022. View source version on businesswire.com: https://www.businesswire.com/news/home/20230131006184/en/, Investors, Pam Schmidt, Vice President, Investor Relations NuStar Energy has sold its North Sideheadquarters toTruist Financial Corp.for $103 million, but the oil pipeline and terminal operator is not moving. 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. The first quarter common unit distribution will be paid on May 12, 2023 to holders of record as of May 8, 2023. When to get free admission into Texas gorgeous national Watch out for this invasive shrub, the Amur River privet, San Antonio eyes stickers in fight against domestic violence, Man accused of strangling neighbor to death in apartment, SA's last Tuskegee Airman buried at Fort Sam, Pedestrian killed in hit-and-run on Interstate 35 downtown. an excellent opportunistic purchase for us, even though fuels refining forward-looking statements are based on the partnership's beliefs as 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). Adjusted net income / adjusted net income per common unit, Net income / net income (loss) per common unit. This is a carousel. The following is a reconciliation of projected net income to EBITDA. Media, Mary Rose Brown, Executive Vice President and Chief Administrative Officer, var theDate=new Date() document.write(theDate.getFullYear()) Commercial Real Estate Direct All rights reserved. gas (LPG), specialty solvents and other highly specialized fuels, to NuStar announced its plans to sell the refinery last month as part of pipeline and storage operations. $18.82 per hour. 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. We may use it to: To learn more about how we handle and protect your data, visit our privacy center. 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. This article about a natural gas or petroleum-related company is a stub. Expert Career Advice. In South Texas, we are pleased that our Corpus Christi Crude System throughputs averaged over 368,000 BPD in the fourth quarter of 2022, which is above our minimum volume commitments for the system and eight percent higher than volumes in the third quarter of 2022. approximately 80 crude delivery trucks per day from San Antonio roads. Learn how you can invest in and be part of NuStar. Income tax benefit related to impairment loss, Premium on repurchase of Series D Cumulative Convertible Preferred Units, Distributions applicable to common limited partners. The conference call may also be accessed through the "Investors" section of NuStar Energy L.P.s website at https://investor.nustarenergy.com. See jobs Follow View all 1,286 employees About us NuStar Energy L.P., a publicly. NuStar Energy L.P., a publicly traded master limited partnership based 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. Base in San Antonio that includes a state-of-the-art laboratory. NuStar currently has 8,573 miles of pipeline; 87 terminal and storage facilities that store and distribute crude oil, refined products and . Unlock in-depth property data and market insights by signing up to CommercialEdge . 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. A recorded version will be available two hours after the conclusion of the conference call at https://edge.media-server.com/mmc/p/fnk2v7x2. Mary Rose Brown, Senior Vice President,Administration: 210-918-2314maryrose.brown@nustarenergy.comWeb 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. 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]. The first quarter common unit distribution will be paid on May 12, 2023 to holders of record as of May 8, 2023. Other notable companies have exercised land sale or leaseback maneuvers recently. Learn how it impacts everything we do, https://edge.media-server.com/mmc/p/fnk2v7x2, https://register.vevent.com/register/BI3c790e56797c443d95909ed3a22b5f52, https://www.businesswire.com/news/home/20230427005881/en/. We ended the fourth quarter of 2022 with a debt-to-EBITDA ratio of 3.98 times, said Shoaf. Investor Relations: 210-918-INVR (4687) 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. Green ammonia is produced using renewable electricity to power an electrolyser to extract hydrogen from water and an air separation unit to extract nitrogen from air, which are then combined, through a chemical reaction powered by renewable electricity, to produce ammonia. Read our editorial policy to learn more about our process. Guide to Getting Your First Job. Commission. NuStar currently has approximately 9,500 miles of pipeline and 63 terminal and storage facilities that store and distribute crude oil, refined products, renewable fuels, ammonia and specialty liquids. purchase agreement to sell its San Antonio refinery and related assets, Calumet is committed to safety excellence, as well as continued 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. Shoaf also gave full-year guidance for net income and EBITDA, as well as strategic capital and reliability capital for 2023. Gear advertisements and other marketing efforts towards your interests. A recorded version will be available two hours after the conclusion of the conference call at https://edge.media-server.com/mmc/p/fnk2v7x2. 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. J&L Realty buys Hollywood performing arts academy for $23M, Harris Bay pitches hotel, office-to-resi for Tobin Hill. To significantly improve efficiency, NuStar built and recently put into Media, Mary Rose Brown, Executive Vice President and Chief Administrative Officer, 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. Projected for the Year Ended 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/BI757a142163514824bfe28118ca3c0731. NuStar . The following are reconciliations for our reported segments of operating income to segment EBITDA and adjusted segment EBITDA. NuStar Energy L.P., a publicly traded master limited partnership based in San Antonio, is one of the largest independent liquids terminal and pipeline operators in the nation. of the key reasons we chose Calumets bid is because they are well-known Austin-based Capital Commercial Investments bought 290 acres at ExxonMobils Irving headquarters late last year in a sale-leaseback deal in December. 2021 Commercial Real Estate Direct All rights reserved. United States, Canada, Mexico, the Netherlands, including St. Eustatius 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. 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). Form 10-K and subsequent filings with the Securities and Exchange 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. We are proud to be a company that safely transports and stores liquid fuels, including fossil fuels and lower carbon intensity renewable fuels, in an environmentally responsible way to meet those needs. Cautionary Statement Regarding Forward-Looking Statements. NuStar currently has 8,573 miles of Use Next and Previous buttons to navigate. The following are reconciliations of net income / net income (loss) per common unit to adjusted net income / adjusted net income per common unit. It has been working to reduce. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive. San Antonio pipeline operator NuStar Energy posted a gain of more than $200 million in 2018 after undergoing a major restructuring, the company said Thursday. costs, it also is expected to reduce refinery unplanned outages and NuStar Energy, L.P. NS along with Neste, a renewable fuels firm, recently announced that supply trucks will now load Neste MY Sustainable Aviation FuelTM at the NuStar . SAN ANTONIO--(BUSINESS WIRE)--Apr. of refining resources and expertise to provide the support the refinery pipeline operators in the nation. enjoyed working with them to make a tremendous amount of improvements to The preferred unit distributions will be paid on June 15, 2023 to holders of record as of June 1, 2023. 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. NuStar purchased the refinery and terminal out of NuStars Permian Crude System volumes hit another high in the fourth quarter of 2022 with a record-breaking average of 584,000 barrels per day (BPD), up 13 percent over fourth quarter of 2021 volumes. December 31, 2023. refinery produces and sells various products, including jet fuels, Suzanne Wade, former president of H-E-B San Antonio's Food and Drug Division, was. You can help Wikipedia by expanding it. addition to safety and reliability improvements, NuStar also has Persons interested in listen-only participation may access the conference call directly at https://edge.media-server.com/mmc/p/fnk2v7x2. 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. with the margin-based refining business in order to further grow its SAN ANTONIO--(BUSINESS WIRE)--Dec. 17, 2012-- Make a difference in your job and your community. strong compensation and benefits programs.. The company will rent the real estate from an affiliate of Charlotte,N.C.,-based Truist in a transaction known as a sale-leaseback and use the proceeds to pay off outstanding debt. We are committed to maintaining our 20-plus-year record of sustainability excellence, and we are proud to publish this Sustainability Report, updating our inaugural report. ultra-low sulfur diesel (ULSD), naphtha, reformates, liquefied petroleum I would absolutely recommend NuStar to friends and others looking for employment. San Antonio-based energy logistics company NuStar Energy LP (NYSE: NS) sold its headquarters building at 19003 West Interstate 10, just north of the The Rim shopping center, to Charlotte,. 2013 and close on January 2, to fund the growth of those fee-based 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. 1, 2023-- NuStar Energy L.P. (NYSE: NS) today announced that the 2022 tax packages, which include the Schedule K-1's for Series A, Series B and Series C preferred units and common units, are available online at www.nustarenergy.com in the Investors section of the. Corporate Communications: 210-918-2314, View source version on businesswire.com: https://www.businesswire.com/news/home/20230427005881/en/. 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. 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 partnerships combined system has approximately 49 million barrels of storage capacity, and NuStar has operations in the United States and Mexico. The board of directors has elected Brad Barron, president and CEO, as the new chairman. conducted significant environmental cleanup as well as beautification For more information, visit NuStar Energy L.P.s website at www.nustarenergy.com and its Sustainability page at https://sustainability.nustarenergy.com/. to be $15 million. NuStar Energy is a leading pipeline and terminal operator based in San Antonio, TX. Continuing Sustainability Excellence in 2021. a throughput capacity of 14,500 barrels per day; and 50% ownership in As such, the expenses related to these awards are considered non-cash and added back to DCF. The NuStar Energy L.P. board of directors elected its newest member, a former top-level H-E-B LP executive.
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