Buckeye Partners Company Research Report

Company Overview

• Name: Buckeye Partners

• Mission: To be the premier infrastructure and logistics provider for the world’s energy needs, both today and tomorrow.

• Founded: Established in 1886.

• Key People: No specific key people mentioned in the provided data.

• Headquarters: Houston, Texas

• Number of Employees: No information is available.

• Revenue: No information is available.

• Known For: Buckeye Partners is known for owning and operating a diversified global network of integrated assets providing midstream infrastructure and logistic solutions. The company specializes in the transportation, storage, processing, and marketing of liquid petroleum products, with a focus on sustainability and energy transition initiatives.

Products

• Liquid Petroleum Products Terminals

• Description: More than 130 terminals facilitating the storage and blending of petroleum products.

• Key Features: Aggregate tank capacity of approximately 125 million barrels, offer bulk storage and blending, truck and rail loading services.

• Pipeline Network

• Description: Over 5,000 miles of domestic pipelines, facilitating transportation of liquid petroleum products across the U.S.

• Key Features: Connects major refining centers and market centers, ensuring efficient delivery of over a million barrels of refined products daily.

• Buckeye Alternative Energy

• Description: A segment dedicated to energy transition-related opportunities, including renewables and cleaner fuels.

• Key Features: Investments in Swift Current Energy, OneH2, and Bear Head Energy, involvement in biofuels and sustainable aviation fuel projects.

• Buckeye Energy Services (BES)

• Description: A leading wholesale distributor of refined petroleum products.

• Key Features: Offers products like gasoline, ethanol, biofuels, with terminals in key markets, and creative risk management programs.

Recent Developments

• Acquisition of Elysian Carbon Management (July 17, 2023)

• Details: Buckeye Partners acquired Elysian to advance its carbon capture and storage solutions, supporting its energy transition and decarbonization strategy.

• Impact: Enhances Buckeye’s capabilities in providing lower-carbon solutions and aligns with the goal of achieving net zero emissions by 2040.

• Financial Strategy (December 2022)

• Events:

• Buckeye Partners announced early settlement dates and extensions of early expiration times for its Junior Subordinated Notes due 2078.

• Launched a cash tender offer and consent solicitation for the same notes to streamline financial commitments.

• Impact: These financial maneuvers are part of Buckeye’s strategy to maintain financial discipline and strategically manage their obligations to foster stability in a changing energy market.

Conclusion

The report reflects Buckeye Partners’ commitment to providing cutting-edge infrastructure and logistics solutions to meet the evolving energy needs of its customers. With significant investments in sustainability and renewable energy solutions, the company positions itself as a leader in the energy transition, while maintaining a robust operational platform across its diverse networks.