| Ticker: | GEL | One Allen Center, 500 Dallas, Suite 3200 | |
| Exchange: | New York Stock Exchange | Houston, Texas 77002 | |
| Industry: | Wholesale | (713) 646-5466 |
| Type of Shares: | Limited Partnership Interests | Filing Date: | 9/6/96 | |
| U.S. Shares: | 7,500,000 | Offer Date: | 11/26/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $20.25 - $21.00 | |
| Primary Shares: | 7,500,000 | Offer Price: | $20.63 | |
| Secondary Shares: | 0 | Gross Spread: | $1.41 | |
| Offering Amount: | $154,687,500 | Selling: | $0.85 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 12,250,000 |
| Manager | Tier | Phone |
| Salomon Brothers Inc. | Lead Manager | (212) 783-2947 |
| Dean Witter Reynolds | Co-manager | (212) 392-2222 |
| PaineWebber Incorporated | Co-manager | (212) 713-2626 |
| Prudential Securities Incorporated | Co-manager | (212) 214-3000 |
| Smith Barney Inc. | Co-manager | (718) 921-8473 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $4,045.45 | $2,258.78 | $1,893.73 | Assets: | $545.46 |
| Net Income: | $14.75 | $9.89 | $6.57 | Liabilities: | $463.28 |
| EPS: | $1.76 | $1.18 | $0.78 | Equity: | $82.18 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company was recently formed to acquire, own and operate the crude oil gathering, marketing and pipeline operations of Basis Petroleum, a unit of Salomon, Inc. and Howell Corp. Upon completion of the Transactions, the Partnership will be one of the largest independent gatherers and marketers of crude oil in North America. Genesis' operations are concentrated in Texas, Louisiana, Alabama, Florida, Mississippi, New Mexico, Kansa and Oklahoma. In its gathering and marketing business, Genesis is principally engaged in the purchase and aggregation of crude oil at the wellhead and the bulk purchase of crude oil at pipeline and terminal facilities for resale at various points along the crude oil distribution chain, which extends from the wellhead to aggregation and terminal stations, refineries and other end markets. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used by the partnership to purchase a portion of the combined operations from Basis and Howell Corporations. |
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