Shell Midstream Partners, L.P. (NYSE:RDS.A) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
Partnership) issued a press release relating to the events
described in Item 8.01 of this Current Report. The press release
is being furnished as Exhibit 99.1 to this Current Report and is
incorporated herein by reference.
release furnished as Exhibit 99.1) shall be deemed furnished and
shall not be deemed filed for the purposes of Section 18 of the
Exchange Act, nor shall it be incorporated by reference in any
filing made by the Partnership to the Securities Act of 1933,
except to the extent that such filing incorporates by reference
any or all of such information by express reference thereto.
agreements (the Purchase Agreements) with subsidiaries of BP (the
Seller), to acquire (the Acquisition) a 10.0% interest in Proteus
Oil Pipeline Company, LLC (Proteus), a 10.0% interest in Endymion
Oil Pipeline Company, LLC (Endymion), and a 1.0% interest in
Cleopatra Gas Gathering Company, LLC (Cleopatra). Proteus and
Endymion each own a crude oil pipeline located primarily in the
Mississippi Canyon area of the Gulf of Mexico, and Cleopatra owns
a gas gathering pipeline in the Southern Green Canyon area of the
Gulf of Mexico. On December 27, 2016, the Partnership completed
the Acquisition to the terms of the Purchase Agreements. The
Acquisition was funded with borrowings under the Partnerships
five year revolving credit facility.
warranties and covenants of the Seller and the Partnership. The
Seller, on the one hand, and the Partnership, on the other hand,
have agreed to indemnify each other and their respective
affiliates, officers, directors and other representatives against
certain losses resulting from any breach of their
representations, warranties or covenants contained in the
Purchase Agreements, subject to certain limitations.
Press Release dated December 28, 2016, issued by Shell
Midstream Partners, L.P.
About Shell Midstream Partners, L.P. (NYSE:RDS.A)
Royal Dutch Shell plc (Shell) is an independent oil and gas company. The Company explores for crude oil and natural gas across the world, both in conventional fields and from sources, such as tight rock, shale and coal formations. The Company is engaged in the principal aspects of the oil and gas industry in approximately 70 countries. The Company operates in three segments: Upstream, Downstream and Corporate. The Company’s Upstream segment focuses on exploration for new crude oil and natural gas reserves and on developing new projects. Its Downstream segment focuses on turning crude oil into a range of refined products, which are moved and marketed around the world for domestic, industrial and transport use. The Company sells various products, which include gasoline, diesel, heating oil, aviation fuel, marine fuel, liquefied natural gas (LNG) for transport, lubricants, bitumen and sulfur. It also produces and sells ethanol from sugar cane in Brazil. Shell Midstream Partners, L.P. (NYSE:RDS.A) Recent Trading Information
Shell Midstream Partners, L.P. (NYSE:RDS.A) closed its last trading session up +0.21 at 54.53 with 1,922,030 shares trading hands.