Core Viewpoint - Genesis Energy, L.P. has increased its cash tender offer for its 7.750% Senior Notes due 2028 from a maximum of $490 million to any and all of the Notes, allowing for the purchase of all tendered Notes without proration [1] Group 1: Tender Offer Details - The maximum aggregate principal amount of Notes accepted for purchase has been increased to any and all of the Notes, eliminating the previous limit [1] - Notes tendered by the Early Tender Deadline will receive a purchase price of $1,001.25 per $1,000 principal amount, including an early tender payment of $30.00 [1] - Notes tendered after the Early Tender Deadline but before the Expiration Time will receive a purchase price of $971.25 per $1,000 principal amount [1] Group 2: Timeline and Conditions - The Early Tender Deadline is set for 5:00 p.m. on March 3, 2026, with settlement expected on March 5, 2026 [1] - The Expiration Time for the tender offer is 5:00 p.m. on March 18, 2026, with settlement expected on March 20, 2026 [1] - The tender offer is contingent upon the receipt of net proceeds from one or more offerings of senior notes sufficient to fund the purchase of all Notes accepted [1] Group 3: Redemption Plans - The company intends to call for redemption any outstanding Notes following the completion or termination of the tender offer [1] - The company reserves the right to purchase or redeem any remaining outstanding Notes at its discretion [1] Group 4: Company Overview - Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas, with operations primarily in the Gulf Coast region of the United States [2]

Core Insights - Genesis Energy, L.P. has filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, with the SEC, which can be accessed on the company's website [1] - The company reported a net income of $19.9 million for Q4 2025, a significant improvement compared to a net loss of $49.4 million in Q4 2024 [1] - Cash flows from operating activities for Q4 2025 were $110.8 million, up from $74.0 million in the same quarter of the previous year [1] - The Board of Directors declared a quarterly cash distribution of $0.18 per common unit, amounting to an annualized distribution of $0.72 per common unit [1] - Genesis Energy will participate in upcoming investor conferences, including the BofA Securities 2025 Leveraged Finance Conference and the Wells Fargo 24th Annual Energy and Power Symposium [1]

Core Viewpoint - The Kitsault Energy (KE) project, led by Dr. Krishnan Suthanthiran, aims to develop a dual-energy pipeline corridor from Dawson Creek to Observatory Inlet, which is expected to generate significant revenue for Enbridge and tax revenues for various Canadian provinces and First Nations communities along the pipeline route [1]. Group 1: Project Overview - Kitsault, owned by Dr. Suthanthiran, was originally a mining community and is strategically located for energy development, with existing infrastructure that other projects lack [1]. - The KE project proposes a dedicated port and terminal at Observatory Inlet, which is well-suited for large-vessel navigation and is only 50 kilometers from international waters [1]. - The project is expected to generate billions of dollars in revenue for Enbridge and tax revenues for Canada, Alberta, Saskatchewan, British Columbia, and First Nations communities [1]. Group 2: Strategic Importance - Enbridge's acquisition of Spectra Energy adds strategic value, as Spectra had previously invested billions to secure a permit for a dual pipeline corridor that can be renewed [1]. - The experience from the Northern Gateway pipeline setback has led Enbridge to consider alternative routes, with Kitsault being recommended by the late Alberta Premier Jim Prentice [1]. - The collaboration between Enbridge and KE is seen as an opportunity to leverage U.S.-based Spectra Energy expertise for developing the dual pipelines [1]. Group 3: Economic Impact - The KE project is projected to bring tens of billions of dollars in investments, benefiting the economies of Alberta, British Columbia, Saskatchewan, and First Nations along the pipeline route [1]. - The establishment of a floating butanol manufacturing facility at Observatory Inlet is part of the plan to export liquid butanol to India, further enhancing the project's economic potential [1].

Core Viewpoint - DNOW Inc. has scheduled a conference call to discuss its financial results for the fourth quarter and full-year 2025, indicating a proactive approach to investor communication and transparency [1]. Group 1: Conference Call Details - The conference call is set for February 20, 2026, at 8:00 am (US Central Time) [1]. - Financial results for the fourth quarter and the year ending December 31, 2025, will be released before the market opens on the same day [1]. - The call will be available via the Investor Relations link on DNOW's website and will be listen-only [1]. Group 2: Company Overview - DNOW Inc. is a leading provider of energy and industrial solutions with over 160 years of experience in distributing pipe, valves, fittings (PVF), gas products, pumps, and fabricated equipment [1]. - The company is headquartered in Houston, Texas, and employs approximately 5,300 individuals, supported by a global distribution and engineering network [1]. - DNOW offers a comprehensive range of supply chain solutions and technical product expertise, enhanced by advanced digital offerings [1].

Core Insights - LSU Athletics has announced a historic multi-year partnership with Woodside Energy, marking a first-of-its-kind jersey patch deal that will feature the Woodside Energy logo on all 21 of LSU's competition apparel starting from the 2026-2027 athletic season [1] - This partnership aims to align athletic excellence with community impact, emphasizing Woodside's commitment to Louisiana and its investment in local communities [1] - Woodside Energy has made a significant investment in Louisiana, including a $17.5 billion final investment decision on its Louisiana LNG project, showcasing its long-term commitment to the state [1] LSU Athletics - LSU Athletics serves as the athletic department for Louisiana State University, competing in Division I and being a member of the Southeastern Conference, with a history of 53 team national championships [1] - The partnership with Woodside Energy is seen as a transformational moment for LSU Athletics, reinforcing its position at the forefront of collegiate athletics [1] Woodside Energy - Woodside Energy is a global energy company with operations across three continents, focusing on oil, gas, and new energy projects, including the Louisiana LNG project [1] - The company has a strong history of community investment and aims to support student-athletes across all 21 varsity sports at LSU [1] - Woodside will also have prominent signage at all athletic venues and a diverse mix of marketing assets across LSU sports channels, highlighting its commitment to the Baton Rouge community and the state of Louisiana [1]

Dividend Announcement - Murphy USA Inc. declared a quarterly cash dividend of $0.63 per share, which annualizes to $2.52 per share, marking a 29% increase from the Q1 2025 dividend [1][1][1] Company Overview - Murphy USA Inc. operates over 1,800 stores primarily in the Southwest, Southeast, Midwest, and Northeast United States, serving approximately two million customers daily [1][1][1] - The company ranks 231 among Fortune 500 companies and employs around 16,900 individuals [1][1][1] Financial Performance - For Q4 2025, Murphy USA reported a net income of $141.9 million, or $7.53 per diluted share, slightly down from $142.5 million, or $6.96 per diluted share, in Q4 2024 [1][1][1] - The full-year net income for 2025 was $470.6 million, or $24.10 per diluted share [1][1][1] Board of Directors Update - Michael G. Kulp has been appointed as an independent director, bringing extensive experience in retail food service operations and leadership in scaling multi-unit businesses [1][1][1]

Core Points - Black Stone Minerals, L.P. declared a cash distribution of $0.30 per common unit for the fourth quarter of 2025, consistent with the previous quarter [1] - The earnings call to discuss the fourth quarter and full-year 2025 results is scheduled for February 24, 2026, at 9:00 a.m. Central time [1] - The company owns mineral and royalty interests in 41 states across the continental United States, positioning itself as one of the largest owners in the sector [1] Financial Highlights - Mineral and royalty production for the third quarter of 2025 was 34.7 MBoe/d, reflecting a 5% increase from the prior quarter [1] - Total production, including working-interest volumes, reached 36.3 MBoe/d for the quarter [1] - Net income for the third quarter was reported at $91.7 million [1] Development Agreement - Black Stone Minerals entered into a development agreement covering 220,000 gross acres with Caturus Energy, aimed at advancing the development of its acreage [1] - The agreement supports a multi-year drilling program to meet the growing demand for natural gas in the Gulf Coast region [1]

Core Viewpoint - Geospace Technologies reported a significant decline in revenue and a net loss for the first quarter of fiscal year 2026, reflecting challenges in the operating environment, including economic uncertainty and rising costs [1][2]. Financial Performance - Revenue for the first quarter ended December 31, 2025, was $25.6 million, down from $37.2 million in the same quarter of the previous year, representing a decrease of 31% [1][4]. - The net loss for the quarter was $9.8 million, or $(0.76) per diluted share, compared to a net income of $8.4 million, or $0.65 per diluted share, for the same period in 2024 [1][4]. Segment Performance Smart Water Segment - Revenue from the Smart Water segment was $5.8 million, down 21% from $7.3 million in the prior year, attributed to seasonal demand fluctuations [1][4]. - The segment continues to face challenges such as rising operating costs and evolving compliance requirements [1]. Energy Solutions Segment - Revenue for the Energy Solutions segment totaled $14.6 million, a decrease of 40% from $24.3 million in the previous year, influenced by lower utilization of the OBX rental fleet and a significant prior year sale [1][4]. - The segment remains impacted by geopolitical events and inflationary pressures [1]. Intelligent Industrial Segment - Revenue from the Intelligent Industrial segment was $5.1 million, down 8% from $5.6 million in the same quarter last year, primarily due to lower demand for industrial sensor products [2][4]. - The segment's growth is supported by increased demand for contract manufacturing services [2]. Balance Sheet and Liquidity - As of December 31, 2025, the company had $10.6 million in cash and cash equivalents, with total working capital of $52.2 million [2]. - The company anticipates a capital expenditure budget of $5 million for fiscal year 2026 [2]. Management's Outlook - Management expressed optimism about the company's ability to navigate the current challenges and emphasized a focus on long-term strategic initiatives and operational discipline [1][2]. - The company plans to continue evaluating opportunities carefully and avoid speculative investments [1].

Financial Results - Adjusted EBITDA from continuing operations for Q3 Fiscal 2026 was $172.5 million, up from $158.0 million in Q3 Fiscal 2025, representing a growth of 9.4% [1] - Income from continuing operations for Q3 Fiscal 2026 was $48.2 million, compared to $23.7 million in Q3 Fiscal 2025, indicating a significant increase of 103.8% [1] - Total revenues for Q3 Fiscal 2026 were $909.8 million, compared to $982.4 million in Q3 Fiscal 2025 [5] Water Solutions Segment - Paid and physically disposed water volumes reached 3.13 million barrels per day in Q3 Fiscal 2026, a 7% increase from the previous year [1] - Record produced water volumes disposed of were approximately 3.07 million barrels per day, growing 17.1% from Q3 Fiscal 2025 [1] - Operating income for the Water Solutions segment increased by $32.8 million compared to the same quarter last year, driven by higher disposal revenues and increased water pipeline revenue [2] Equity Transactions - The company repurchased 1,611,088 common units during the quarter, totaling 8,698,477 units repurchased at an average price of $5.6963 [1] - In October, NGL purchased an additional 18,506 Class D preferred units, bringing the total redeemed to approximately 15% of the originally outstanding units [1] Capitalization and Liquidity - Total liquidity as of December 31, 2025, was approximately $331.1 million, with borrowings on the asset-based revolving credit facility totaling about $92.0 million [2] - The company is in compliance with all debt covenants and has no upcoming debt maturities [2] Forward-Looking Statements - The company reaffirmed its full-year guidance for Adjusted EBITDA between $650 million to $660 million and anticipates Fiscal 2027 Adjusted EBITDA to exceed $700 million [1]

Delek US Holdings to Host Fourth Quarter 2025 Conference Call on February 27thJan 30, 2026 4:30 PM Eastern Standard Time# Delek US Holdings to Host Fourth Quarter 2025 Conference Call on February 27thShare---BRENTWOOD, Tenn.--([BUSINESS WIRE])--Delek US Holdings, Inc. (NYSE: DK) ("Delek US†) today announced that the Company intends to issue a press release summarizing fourth quarter 2025 results before the U.S. stock market opens on Friday, February 27, 2026. A conference call to discuss these results is ...