Genesis Energy L.P. Reports Oil Spill in Mississippi.Business/Energy Editors HOUSTON--(BUSINESS WIRE)--Dec. 21, 1999 Genesis Energy L.P. (NYSE NYSE See: New York Stock Exchange :GEL), an operator of crude oil pipelines in Mississippi, was notified of a potential oil spill oil spill: see water pollution. on their pipeline Right of Way south of Highway 28 in a rural area near Summerland, Miss. The crude oil was apparently released from an 8-inch pipeline near its crossing of the Leaf River Leaf River A river, about 290 km (180 mi) long, of southeast Mississippi flowing generally south to Hattiesburg. . The release entered the Leaf River and has been contained. The cause of the spill is unknown and is currently under investigation at this time. The Genesis Emergency Response Team was activated immediately to investigate and respond to the incident. Genesis is working with local, state and federal agencies to mitigate the incident as quickly and as safely as possible. Mark Gorman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said, "We regret this unfortunate incident. The team's primary objectives and responsibilities are the safety of the general public and the responders, and to minimize any impact to the environment resulting from this incident." Mr. Gorman added, "We do not believe that this incident will have a material financial impact on Genesis. We believe insurance will cover substantially all of the costs associated with this spill." Genesis Energy L.P., operates crude oil common carrier pipelines and is one of the largest independent gatherers and marketers of crude oil in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , with operations concentrated in Texas, Louisiana, Alabama, Florida, Mississippi, New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). , Kansas and Oklahoma. This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although Genesis believes that its expectations are based upon reasonable assumptions, it can give no assurance that its goals will be achieved. Important factors that could cause actual results to differ materially from those in the forward-looking statements herein include the timing and extent of changes in commodity prices for oil, ability to obtain adequate credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities , environmental risks, government regulation, the ability of the Company to meet its stated business goals and other risks noted from time to time in the Company's Securities and Exchange Commission filings. |
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