or growth projects and acquisitions, especially in the Eagle Ford Shale 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. Corporate Communications: 210-918-2314, NuStar Energy L.P. Declares First Quarter 2023 Common Unit Distribution and Series A, Series B and Series C Preferred Units Distributions, Copyright NuStar Energy L.P. All Rights Reserved, https://edge.media-server.com/mmc/p/fnk2v7x2, https://register.vevent.com/register/BI3c790e56797c443d95909ed3a22b5f52, https://www.businesswire.com/news/home/20230427005881/en/. How we use your information depends on the product and service that you use and your relationship with us. forward-looking statements are based on the partnership's beliefs as At NuStar Energy L.P., we firmly believe that if you take care of the employees, they will take care of the company, its customers, investors and communities. Our Guiding Principles are the foundation of everything we do: how we treat each other, the environment, our communities, our customers and business partners. 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. It acquired about 37acres there in 2010. To further enhance the safety of refinery NuStar Energy Careers and Employment 2023 | Indeed.com NuStar reported net income of $92 million for the fourth quarter of 2022, or $0.18 per unit, compared to net income of $58 million, or $0.19 per unit, for the fourth quarter of 2021. 100% of the distribution is in excess of cumulative net income for purposes of Treasury Regulation Section 1.1446(f)-4(c)(2)(iii). Payments made in connection with DERs are deducted from DCF. NuStar's lease is for 20 years, but it can be [] He also noted that NuStars Mid-Continent refined product systems once again delivered solid, dependable revenue contribution in the fourth quarter of 2022. Summers at MIC: Be Careful in the Stock Market, 2 Undervalued Stocks From the Morningstar Wide Moat Focus Index, Maybe 2022 Was the Start of the Return to Normal, Aswath Damodaran Says, First-Quarter Returns Positive Despite Banking Crisis and Fears of Recession, What Fund Investors Did With Their Money in the First Quarter, The Best iShares ETFs and BlackRock Funds, 20 Best Healthcare Companies to Invest In, Best Financial-Services Companies to Own: 2023 Edition, Undervalued Communication Services Stocks, Transparency is our policy. 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. 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. Actual results may differ materially from those described in the forward-looking statements. They should not be considered in isolation or as substitutes for a measure of performance prepared in accordance with GAAP. As such, the expenses related to these awards are considered non-cash and added back to DCF. an excellent opportunistic purchase for us, even though fuels refining Note 1: NuStar Energy L.P. utilizes financial measures, such as earnings before interest, taxes, depreciation and amortization (EBITDA), distributable cash flow (DCF) and distribution coverage ratio, which are not defined in U.S. generally accepted accounting principles (GAAP). 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. Highest Fourth Quarter Net Income and Adjusted EBITDA in Company History, Permian Crude System Volumes Hit Record-Breaking Average of 584,000 Barrels Per Day/13 Percent Above 4Q 2021, Operations Performing Well Across all Systems, Fuels Marketing Segment Up Almost $23 Million Year-Over-Year. In As a result of our strong culture and our Guiding Principles, NuStar has received numerous awards including being named to FORTUNE Magazines 100 Best Companies to Work For list 12 times, FORTUNE Magazines Best Workplaces for Millennials list five times and Latino Leader Magazines Best Companies for Latinos to Work list two times. ultra-low sulfur diesel (ULSD), naphtha, reformates, liquefied petroleum We intend to satisfy the vestings of these equity-based awards with the issuance of our common units. the crude oil that is processed at the refinery. strong compensation and benefits programs.. 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. 2013 and close on January 2, to fund the growth of those fee-based And Houston-based natural gas company Tellurian is selling land in Louisiana as part of a $1 billion lease back, the outlet reported. Certain awards include distribution equivalent rights (DERs). NuStar plays a vital role in helping toensure Americas food supply from fueling for tractors, to supplying the ammonia Americas farmers use to fertilize their fields and increase crop yields, to fueling the trucks that transport food from the farm to your table, NuStar plays an integral part in bringing affordable, healthy foods to our communities, throughout the Midwest and across the country. 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. Other notable companies have exercised land sale or leaseback maneuvers recently. 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. Property Type Office - General Office Property Size 317,808 SF Lot Size 31.97 Acre Parking Spaces Avail. 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. NuStar Energy has sold its North Sideheadquarters toTruist Financial Corp.for $103 million, but the oil pipeline and terminal operator is not moving. This site is protected by reCAPTCHA and the Google Adjusted distributable cash flow (DCF) was $89 million for the fourth quarter of 2022, compared to fourth quarter of 2021 DCF of $63 million. The 32-acre property was recently valued at about $49 million, according to the Bexar County Appraisal District. SAN ANTONIO--(BUSINESS WIRE)--Apr. $18.82 per hour. 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. terminal and refinery, to Calumet Specialty Products Partners, In November, we were able to repurchase about one-third of our Series D preferred units while keeping our debt-to-EBITDA ratio under 4 times for year-end 2022. 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. Expert Career Advice. The conference call may also be accessed through the Investors section of NuStar Energy L.P.s website at https://investor.nustarenergy.com. Continuing Sustainability Excellence in 2021. As of December 31, 2015, NuStar GP, LLC had 1,251 domestic employees and certain of their wholly owned subsidiaries had 393 employees performing services for their international operations. All forward-looking statements are based on NuStars beliefs as well as assumptions made by and information currently available to NuStar. NuStar Energy sells its headquarters building to Truist Bank, leases it Mary Rose Brown, Senior Vice President,Administration: 210-918-2314maryrose.brown@nustarenergy.comWeb events and the future financial performance of NuStar Energy L.P. All 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. This release serves as qualified notice to nominees under Treasury Regulation Sections 1.1446-4(b)(4) and (d) and 1.1446(f). 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. [2] Our commitment to making a difference not only ensures that NuStar continues to provide our communities with safe, reliable and affordable access to fuels, but also ensures that we continue to support our employees and build value for our investors. Our Guiding Principles are the foundation of everything we do: how we treat each other, the environment, our communities, our customers and business partners. 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. The company moved into its 319,000-square-foot headquarters off Interstate 10 north of The Rim shopping in 2012. NuStar Energy L.P. is a publicly traded master limited partnership. In 2019, we formed an ESG Task Force to focus on sustainability reporting and build upon our best practices. These adjustments represent the pro forma effects of the dispositions of the Point Tupper terminal, which was sold in April 2022, and the Eastern U.S. terminals, which were sold in October 2021. Shoaf also gave full-year guidance for net income and EBITDA, as well as strategic capital and reliability capital for 2023. a throughput capacity of 14,500 barrels per day; and 50% ownership in 730 I would absolutely recommend NuStar to friends and others looking for employment. Our total debt balance was $3.3 billion, and our revolver facility availability was over $775 million of the facilitys $1 billion capacity. You can help Wikipedia by expanding it. For more information, visit NuStar Energy L.P.s website at www.nustarenergy.com and its Sustainability page at https://sustainability.nustarenergy.com/. 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. The conference call may also be accessed through the "Investors" section of NuStar Energy L.P.s website at https://investor.nustarenergy.com. 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. More >> Express-News file photo Show More Show Less 2 of 14. NuStar Energy careers in San Antonio, TX | Indeed.com well as assumptions made by and information currently available to the 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). enjoyed working with them to make a tremendous amount of improvements to Nustar Energy. Terms of Service apply. Income tax benefit related to impairment loss, Premium on repurchase of Series D Cumulative Convertible Preferred Units, Distributions applicable to common limited partners. In 2020, we created our Sustainability Working Committee to enhance our sustainability disclosures. NuStar Energy - Wikipedia DCF is used by the MLP investment community, in part, because the value of a partnership unit is partially based on its yield, and its yield is based on the cash distributions a partnership can pay its unitholders. with the margin-based refining business in order to further grow its region and other U.S. shale plays, where NuStar already has extensive approximately $54 million since then on improvements to the refinery. addition to safety and reliability improvements, NuStar also has NuStar Energy Corporate Headquarters Off-Market 19003 Interstate 10 Frontage Road, San Antonio, TX 78257 This property is off-market. Media, Mary Rose Brown, Executive Vice President and Chief Administrative Officer, The adjusted distribution coverage ratio was 2.01 times for the fourth quarter of 2022. Nustar Energy Company Profile - Craft The first quarter common unit distribution will be paid on May 12, 2023 to holders of record as of May 8, 2023. "NuStar's earnings grew in third quarter, despite drop in shale production", "Inter Pipeline announces the acquisition of European bulk liquid storage business", "NuStar receives the first shipment of long-haul Permian Crude at Corpus Christi terminal", "Plans To Build New Petrochemical Tanks In Rodeo Face Pushback Following NuStar Fire", https://en.wikipedia.org/w/index.php?title=NuStar_Energy&oldid=1084603172, This page was last edited on 25 April 2022, at 13:59.