Transaction highlights:

  • Increases size, scale and growth capacity of USD Partners LP’s asset base.
  • Expected to provide double-digit accretion to USD Partners LP’s distributable cash flow per unit in 2023, improving the potential for distribution per unit growth.
  • Supports Management’s focus on delivering sustainable, long-term distributable cash flow to USD Partners LP’s unitholders by improving contract profile tenor, anchored by a long-term contract with ConocoPhillips.
  • Optimises operational and commercial synergies of Hardisty Terminal and consolidates benefits of blue-chip diluent recovery unit (DRU) asset growth at the MLP for the benefit of all of USD Partners LP’s unitholders.
  • Elimination of IDRs and economic GP interest simplifies USD Partners LP’s financial structure and better aligns the interests of its unitholders with USD Group LLC, who will continue to own a substantial number of common units post-transaction.