Genesis Energy L.P. announces quarterly distribution.HOUSTON--(BUSINESS WIRE)--April 2, 1997--Genesis Energy, L.P. (NYSE NYSE See: New York Stock Exchange :GEL) announced today that it will pay its first quarterly distribution of $0.66 per Common Unit on May 15, 1997, to Common Unitholders of record at the close of business on April 30, 1997. Generally, the Minimum Quarterly Distribution is $0.50 per Common Unit. This first distribution, however, was increased to include twenty-nine days from December 3, 1996, the closing date of the Initial Public Offering. Future Minimum Quarterly Distributions are anticipated to be paid on or about 45 days after the end of each calendar quarter. Future record dates are anticipated to be on or about the last day of the month following the end of the calendar quarter. 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 Louisiana (ləwē'zēăn`ə, l  ē'–), state in the S central United States. It is bounded by Mississippi, with the Mississippi R. , Alabama Alabama, indigenous people of North AmericaAlabama (ăləbăm`ə), indigenous people of North America whose language belongs to the Muskogean branch of the Hokan-Siouan linguistic stock (see Native American languages). , 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. CONTACT: Genesis Energy L.P. Allyn R. Skelton II, 713/646-1223 |
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