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May 28, 2015 9:26 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Buckeye Partners, L.P.

Company Overview

Buckeye Partners, L.P. owns and operates liquid petroleum products pipeline systems in the United States. The company operates through four segments: Pipelines & Terminals, Global Marine Terminals, Merchant Services, and Development & Logistics. The Pipelines & Terminals segment transports liquid petroleum products, including gasoline, jet fuel, diesel fuel, heating oil, and kerosene; and refined petroleum products, such as propane and butane, refinery feedstock, and blending components, as well as crude oil. This segment owns and operates approximately 6,000 miles of pipeline located primarily in the northeastern and upper midwestern portions of the United States, and services 110 delivery ...

One Greenway Plaza

Suite 600

Houston, TX 77046

United States

Founded in 1886

290 Employees

Phone:

832-615-8600

Key Executives for Buckeye Partners, L.P.

Chairman of Buckeye GP LLC, Chief Executive Officer of Buckeye GP LLC and President of Buckeye GP LLC
Age: 60
Total Annual Compensation: $756.7K
Chief Financial Officer of Buckeye Gp Llc and Executive Vice President of Buckeye Gp Llc
Age: 57
Total Annual Compensation: $482.7K
Senior Vice President of Buckeye GP LLC and President of Global Marine Terminals - Buckeye GP LLC
Age: 42
Total Annual Compensation: $412.0K
Senior Vice President of Buckeye GP LLC and President of Domestic Pipelines & Terminals Business Unit of Buckeye GP LLC
Age: 50
Total Annual Compensation: $412.0K
Senior Vice President of Buckeye GP LLC, General Counsel of Buckeye GP LLC and Secretary of Buckeye GP LLC
Age: 40
Total Annual Compensation: $349.8K
Compensation as of Fiscal Year 2014.

Buckeye Partners, L.P. Key Developments

Buckeye Partners Declares Quarterly Dividend, Payable on May 18, 2015

Buckeye Partners announced that its general partner declared a quarterly cash dividend of $1.15 per share, up from a previous distribution of $1.1375 per share. The dividend is payable on May 18, 2015 to holders of record on May 11, 2015.

Buckeye Partners, L.P. Announces Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2015; Provides Distributable Cash Flow Guidance for the Second Quarter, Third Quarter of 2015 and Maintenance Capital Spending Guidance for the Full Year of 2015

Buckeye Partners, L.P. announced unaudited consolidated financial results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenue of $1,088,100,000 against $1,991,829,000 a year ago. Operating income was $151,802,000 against $141,273,000 a year ago. Income from continuing operations before taxes was $112,260,000 against $101,462,000 a year ago. Income from continuing operations was $112,021,000 or $0.88 per diluted share against $101,539,000 or $0.87 per diluted share a year ago. Net income attributable to the company was $111,611,000 or $0.87 per diluted share against $90,468,000 or $0.78 per diluted share a year ago. Adjusted EBITDA from continuing operations was $212,910,000 against $188,624,000 a year ago. Maintenance capital was $19,430,000 compared with $18,704,000 a year ago. Distributable cash flow from continuing operations for the first quarter of 2015 was $155.7 million compared to $131.8 million for the first quarter of 2014. The company provided distributable cash flow guidance for the second quarter, third quarter of 2015 and maintenance capital spending guidance for the full year of 2015. Looking forward, the company expects lower coverage in the second and third quarter due to limited butane blending activity, combined with higher maintenance capital spend as weather conditions improve. For the full year of 2015, the company expects maintenance capital spending to be in the range of $90 million to $110 million with a return capital spending of $440 million to $480 million. Return capital spending includes construction of the new condensate splitter as well as the refrigerated LPG storage at its Texas processing facility, both of which the company expects to be operational in the third quarter of 2015.

Buckeye Partners, L.P. to Report Q1, 2015 Results on May 01, 2015

Buckeye Partners, L.P. announced that they will report Q1, 2015 results at 11:00 AM, US Eastern Standard Time on May 01, 2015

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