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July 30, 2015 4:24 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Martin Operating Partnership L.P.

Company Overview

Martin Operating Partnership L.P., doing business as Martin Lubricants Martin Operating GP LLC, is a holding company. The company, through its subsidiaries, refines and markets oil and natural gas. The company also operates and manages natural gas storage facilities. In addition, it manufactures grease and sulfur. The company was founded in 2002 and is based in Kilgore, Texas. Martin Operating Partnership L.P. operates as a subsidiary of Martin Midstream Partners LP.

4200 Stone Road

Kilgore, TX 75662

United States

Founded in 2002





Key Executives for Martin Operating Partnership L.P.

Chief Financial Officer, Executive Vice President, and Treasurer
Age: 56
General Manager
Marketing Distribution Manager
Compensation as of Fiscal Year 2015.

Martin Operating Partnership L.P. Key Developments

Martin Operating Partnership L.P. and Martin Midstream Partners L.P. Enter into Fourth Amendment to the Third Amended and Restated Credit Agreement

On June 23, 2015, Martin Operating Partnership L.P., Martin Midstream Partners L.P. and certain of their subsidiaries entered into a Fourth Amendment to the Third Amended and Restated Credit Agreement (Credit Agreement Amendment), which amended that certain Third Amended and Restated Credit Agreement, dated as of March 28, 2013, by and among the Operating Partnership, as the borrower, the Partnership, certain of their subsidiaries, Royal Bank of Canada, as administrative agent and collateral agent for the Lenders and as L/C Issuer and a Lender, and the other Lenders as set therein, as amended. The Credit Agreement Amendment amends the Credit Agreement to, among other things, amend the definition of Consolidated EBITDA to include cash interest payments received by the Operating Partnership in respect of subordinated debt owed to it by Martin Energy Trading LLC. Additionally, the Credit Agreement Amendment permits the Partnership to purchase, redeem or otherwise acquire up to $25 million of its common units and/or senior unsecured notes, subject to compliance with certain minimum liquidity, maximum leverage and other conditions set in the Credit Agreement Amendment. The Credit Agreement and its revolving credit facility are the Partnership's primary source of liquidity and matures March 28, 2018.

Martin Operating Partnership L.P. Enters into Second Amendment to Third Amended and Restated Credit Agreement

On May 5, 2014, Martin Operating Partnership L.P. (operating partnership) and Martin Midstream Partners L.P (partnership) entered into a second amendment to third amended and restated credit agreement, which amended that certain third amended and restated credit agreement, dated as of March 28, 2013, by and among the operating partnership, as the borrower, the partnership, and Royal Bank of Canada, as administrative agent and collateral agent for the lenders and as L/C Issuer and a lender, and the other lenders party thereto, as amended.

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