Genesis Energy

What Genesis Energy does

Genesis Energy, L.P. is a publicly traded master limited partnership (MLP) headquartered in Houston, Texas (NYSE: GEL), that operates as a midstream energy infrastructure provider serving integrated and large independent energy companies developing large-reservoir, long-lived crude oil and natural gas properties in the Gulf of America. The partnership operates four interconnected business segments: Offshore Pipeline Transportation (approximately 2,400 miles of pipelines transporting crude oil and natural gas from deepwater Gulf of America reservoirs to Gulf Coast refineries); Marine Transportation (Genesis Marine, a Jones Act compliant fleet of inland and offshore boats and barges plus one ocean-going tanker with approximately 3.5 million barrels of capacity, serving Gulf Coast, East Coast, Great Lakes, Intracoastal Waterway, and major river systems); Sulfur Services, operating as TDC, which uses a proprietary closed-loop, non-combustion technology at 11 sulfur removal units to treat sour gas streams at host refineries while producing sodium hydrosulfide (NaHS) and caustic soda (NaOH) for copper mining, pulp and paper, and other industrial customers; and Onshore Transportation & Services, an integrated suite of approximately 4.2 million barrels of storage capacity, pipelines, trucks, terminals, and rail unloading facilities along the Gulf Coast that links offshore volumes to downstream demand.

Revenue is generated primarily through fee-based contractual arrangements rather than commodity exposure, with approximately 65% of offshore pipeline production committed under take-or-pay transportation agreements that provide stable, predictable cash flows. The partnership completed the $1.0 billion sale of its Alkali (soda ash) business in February 2025 and used proceeds for balance sheet strengthening and debt reduction; in early 2026 it executed a $750 million 6.75% senior notes issuance due 2034 to refinance higher-cost 7.75% notes due 2028, while also extending its $900 million revolving credit facility and repurchasing Series A convertible preferred units, actions expected to reduce annual financing costs by approximately $12 million. As of April 2026 the partnership's market capitalization was approximately $2.17 billion, full-year 2025 Adjusted EBITDA was approximately $544 million, Q1 2026 revenue was $446.55 million, and management is guiding to 15-20% Adjusted EBITDA growth in 2026 over normalized 2025 levels of approximately $500-510 million.

Name

Genesis Energy

Legal name

Genesis Energy, L.P.

Website

https://www.genesisenergy.com/

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Midstream Energy Infrastructure Services

NAICS

Pipeline Transportation of Crude Oil (4861), Pipeline Transportation of Refined Petroleum Products (486910), Pipeline Transportation of Natural Gas (4862), Pipeline Transportation of Crude Oil (486110)

SIC

Pipe Lines (No Natural Gas) (4610), Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

Oil & Gas Midstream & Pipeline O&M (Pipelines, Compressor Stations) (EUAEAGAF)

akta.pro secondary industries

Blending, Additization & Terminal Operations (In-Terminal Blending, Dyeing, Bio-blending) (EUALAEAJ), Upstream HSE, Regulatory Compliance & Emissions Management (Methane/Flare) (EUALAAAM)

Keywords

• Midstream energy infrastructure
• Offshore pipeline transportation
• Marine transportation services
• Sulfur recovery services
• Onshore crude logistics

Headquarters

HQ city

Seminole

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Supply Chain

Revenue model

1. Offshore Pipeline Transportation: Fee-based pipeline transportation services for crude oil and natural gas produced from deepwater Gulf of America reservoirs, providing critical infrastructure to energy companies. Approximately 65% of production is under take-or-pay transportation agreements providing stable cash flows.
2. Marine Transportation Services: Jones Act compliant marine transportation of crude oil and intermediate refined products along Gulf Coast, East Coast, Great Lakes, Intracoastal Waterway, and major river systems
3. Sulfur Services (TDC): Production and marketing of sodium hydrosulfide (NaHS) and caustic soda (NaOH) through proprietary emissions reduction technology at refineries. NaHS is sold to copper mining, pulp and paper, and other industrial customers.
4. Onshore Transportation & Services: Movement of crude oil volumes received from offshore pipeline infrastructure to refineries and other demand centers along the Gulf Coast using pipelines, trucks, terminals, and rail facilities

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Genesis Energy, L.P. provides fee-based midstream energy infrastructure services to integrated and large independent energy companies developing deepwater crude oil and natural gas properties in the Gulf of America. The partnership operates ~2,400 miles of offshore pipelines, a Jones Act-compliant marine fleet of ~3.5M barrels capacity, 11 sulfur removal units under the TDC brand that use proprietary closed-loop technology to produce sodium hydrosulfide and caustic soda, and an integrated onshore infrastructure footprint of ~4.2M barrels of storage.

Product overview

Genesis Energy, L.P. is a diversified midstream energy master limited partnership (MLP) providing critical infrastructure services to the oil and gas industry. The company operates four interconnected business segments: Offshore Pipeline Transportation (approximately 2,400 miles of pipelines in the Gulf of America), Marine Transportation (Jones Act compliant fleet with 3.5M barrels capacity), Sulfur Services operating as TDC (11 sulfur removal units producing sodium hydrosulfide and caustic soda), and Onshore Transportation & Services (pipelines, terminals, trucks, and rail with 4.2M barrels storage). These operations span the Gulf Coast region of the United States, providing integrated midstream services from offshore production through onshore refining.

Differentiator

Problem solved

Functional benefit

Brands

• TDC (Sulfur Services): Sulfur Services business operating as TDC, a leading emissions reduction partner to the refining industry that designs, engineers, constructs, and operates facilities to treat, process, and re-purpose sour gas streams.
• Genesis Marine

Products and services

• Offshore Pipeline Transportation Fee-based pipeline transportation of crude oil and natural gas produced from deepwater Gulf of America reservoirs to refinery-centric demand centers along the Gulf Coast. Approximately 2,400 miles of offshore pipelines serving integrated and large independent energy companies developing large-reservoir, long-lived crude oil and natural gas properties.
• Marine Transportation Jones Act-compliant marine transportation of crude oil and intermediate refined products operated through Genesis Marine, with a fleet of inland and offshore boats and barges plus one ocean-going tanker. Services cover Gulf Coast, East Coast, Great Lakes, Intracoastal Waterway, and major river systems in the United States.
• Sulfur Services (TDC) Operating as TDC, Genesis Energy's Sulfur Services business is an emissions reduction partner to the refining industry that designs, engineers, constructs, and operates facilities to treat, process, and re-purpose sour gas streams from refineries using proprietary closed-loop, non-combustion technology. Operates 11 sulfur removal units and produces sodium hydrosulfide (NaHS) and caustic soda (NaOH) for industrial customers.
• Onshore Transportation & Services Integrated suite of onshore crude oil and refined products infrastructure including pipelines, trucks, terminals, and rail unloading facilities, primarily moving crude oil from Genesis Energy's offshore pipeline infrastructure to refineries and demand centers along the Gulf Coast. Storage capacity of approximately 4.2 million barrels.
• Sodium Hydrosulfide (NaHS) Bulk specialty chemical produced and marketed by TDC, used primarily in copper mining (oxide mineral species flotation), pulp and paper, specialty chemicals, environmental applications, and emissions reductions. Distributed via tank trucks, tank cars, and oceangoing vessels; TDC is a leading producer and supplier of NaHS in North and South America.
• Caustic Soda (NaOH) Industrial alkaline chemical distributed by TDC for use in alumina extraction, chemical production, food processing, ore processing, petroleum gas sweetening, pulp and paper, pharmaceuticals, plastics, and water treatment. TDC serves as a leading purchaser and logistics provider of caustic soda.

Quantifiable outcome

• 65% of production under take-or-pay transportation agreements providing stable cash flows
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered minor.

• Indorama Ventures Public Company LimitedminorStrategic or Co-development Partner · 16 March 2026Partnership to build one of Africa's largest recycled PET production facilities in Lagos, Nigeria with planned capacity of 45,000 tons annually. Note: This appears to involve Genesis Power & Energy Solutions Limited, a related entity, not the U.S.-listed MLP.
• Nigerian Breweries PlcminorStrategic or Co-development Partner · 16 March 2026Partnership to establish food-grade recycled PET production facility in Nigeria with Nigerian Breweries holding 29% minority stake. Note: This appears to involve Genesis Power & Energy Solutions Limited, a related entity, not the U.S.-listed MLP.
• New Zealand Energy Corp.minorStrategic or Co-development Partner · 3 December 2025MOU signed to develop the Tariki gas storage project in New Zealand, with potential estimated annual gross revenue of NZ$60 million when operational.
• L&M Energy Ltd.minorStrategic or Co-development Partner · 3 December 2025MOU signed alongside New Zealand Energy Corp. to develop the Tariki gas storage project in New Zealand.
• Yinson RenewablesminorStrategic or Co-development Partner · 26 November 2025Exclusivity agreement for Genesis Energy to co-invest in wind projects in New Zealand as power off-taker or co-investor. Note: This appears to involve a New Zealand entity related to Genesis Energy.
• Contact EnergyminorStrategic or Co-development Partner · 5 November 2025Commerce Commission approved 'Strategic Energy Reserve Huntly Firming Option' agreement among Genesis, Contact, Meridian, and Mercury to secure electricity supply access to Huntly Power Station. Note: This appears to involve a New Zealand entity related to Genesis Energy.

Scale indicators14 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Enterprise Products Partners: One of the largest publicly traded midstream MLPs, Enterprise operates extensive natural gas, NGL, crude oil, and refined products pipelines and terminals across the Gulf Coast. Highly comparable to Genesis on business model (fee-based midstream), customer base (integrated and large independent E&Ps), and MLP structure.
• Energy Transfer: Large diversified midstream operator with crude oil, natural gas, NGL, and refined products pipelines including significant Gulf of Mexico and Gulf Coast infrastructure. Directly comparable to Genesis on geographic concentration and take-or-pay contract structures.
• Plains All American Pipeline: Pure-play crude oil midstream MLP operating pipelines, terminals, gathering systems, and storage across key U.S. producing basins including the Gulf of Mexico. Highly comparable to Genesis' offshore pipeline and onshore transportation segments.
• Kinder Morgan: Largest U.S. midstream operator with major natural gas, crude oil, refined products, and CO2 pipeline networks, including substantial Gulf Coast footprint. Comparable to Genesis on midstream asset base, contract structures, and customer mix.
• MPLX: Midstream MLP focused on crude oil, natural gas, and NGL gathering/processing, plus marine transportation (terminals and barges). Comparable to Genesis on the integration of pipelines, terminals, and marine services with take-or-pay contract structures.
• ONEOK: Midstream operator specializing in natural gas gathering/processing, NGL pipelines, and refined products/crude gathering, with operations concentrated in key U.S. producing basins. Recently acquired Magellan Midstream Partners, deepening Gulf Coast crude and refined product exposure comparable to Genesis.

Broad incumbents

• Williams Companies: Large natural gas-focused midstream operator with extensive gathering, processing, and transmission infrastructure, primarily onshore. Comparable to Genesis on take-or-pay contract structures and infrastructure scale, though less focused on Gulf of America crude oil transportation.
• Targa Resources: Midstream operator with gathering/processing, NGL pipelines, and export assets concentrated in the Permian and Gulf Coast. Comparable to Genesis on Gulf Coast exposure and contract structures, though more focused on NGL/value-chain processing than crude.
• Phillips 66: Integrated downstream energy company with refining, marketing, and midstream (formerly Phillips 66 Partners) operations concentrated along the Gulf Coast. Comparable to Genesis on Gulf Coast customer relationships and pipeline/terminal asset base, though diversified across refining.

Regional players

• Cheniere Energy: Largest U.S. LNG exporter with significant Gulf Coast infrastructure and offtake agreements. Comparable to Genesis on fee-based midstream business model and Gulf Coast operating geography, though focused on natural gas liquefaction rather than crude oil transport.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/genesis-energy-l.p.

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

Funding overview

Funding rounds8 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Genesis Energy