Genesis Energy, L.P. Completes Public Offering of 5.175M Units

Genesis Energy, L.P. GEL announced today that it has completed its previously announced underwritten public offering of common units. Including the overallotment option, which was exercised in full by the underwriters, the Partnership sold a total of 5,175,000 common units at $23.58 per common unit. Total net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses and including our general partner's proportionate capital contribution to maintain its 2% general partner interest, were approximately $119 million. The Partnership intends to use the net proceeds from the offering to reduce outstanding borrowings under its credit facilities, which may be re-borrowed to fund a portion of the purchase price for our previously announced pending acquisition of a 50% equity interest in the Cameron Highway Oil Pipeline Company. As a result of the offering, the Partnership now has 44,760,692 common units outstanding.