On April 26, 2018, USD Partners LP (the “Partnership”) issued a press release announcing that the board of directors of USD Partners GP LLC, acting in its capacity as the general partner of the Partnership, declared a quarterly cash distribution of $0.3525 per unit for the first quarter of 2018 ($1.41 per unit on an annualized basis), representing an increase of $0.0025 per unit or 0.7% over the prior quarter and 5.2% over the first quarter of 2017. The distribution is payable on May 11, 2018, to unitholders of record at the close of business on May 7, 2018.

Recent Commercial Developments

Additionally, the Partnership announced that during March and April 2018, the initial customer of the Stroud Terminal ("Stroud Customer"), an investment grade multi-national energy company, secured the remaining available capacity at the Stroud terminal from USD Marketing LLC for periods beginning in the second quarter of 2018 and ending in June 2019 and January 2020, to the Marketing Services Agreement established with the Partnership at the time of the Stroud acquisition.

Similarly, the Partnership obtained origination capacity from customers of the Hardisty terminal and immediately contracted with the Stroud customer for this capacity at the same economic terms as the initial customer agreements. Consistent with the new agreements for destination capacity at the Stroud terminal, the Hardisty origination capacity was contracted for corresponding periods beginning in the second quarter of 2018 and ending in June 2019 and January 2020 (the later representing a seven month extension over the original Hardisty contract term). As a result, the Stroud customer increased its contracted position from approximately 25% to nearly half of the existing capacity at the Hardisty terminal.

The terminalling services agreements related to the portion of the Stroud customer’s origination and destination capacity through June 2019 contemplate a deadline of August 31, 2018, to extend the terms of these agreements at both the Hardisty and Stroud terminals.

First Quarter 2018 Earnings Release Date and Conference Call Information

The Partnership also announced that it plans to report first quarter 2018 financial and operating results after market close on Monday, May 7, 2018. The Partnership will host a conference call and webcast regarding its first quarter 2018 results at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) on Tuesday, May 8, 2018. Information on how to access the conference call and webcast can be found in the press release.

A copy of the Press Release is attached hereto as Exhibit 99.1. The information in this report and the exhibit attached to this report are not deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that Section, and are not incorporated by reference into any registration statement or other filing under the Securities Act of 1933 (the “Securities Act”) or the Exchange Act, unless the Partnership expressly states that such information is considered to be “filed” under the Exchange Act or incorporates such information by specific reference in a Securities Act or Exchange Act filing.

Item 7.01

Financial Statements and Exhibits.

(d)Exhibits

The following “Index of Exhibits” is hereby incorporated into this Item.

EXHIBIT INDEX


USD Partners LP Exhibit
EX-99.1 2 ex991q12018distributionpre.htm EXHIBIT 99.1 DISTRIBUTION PRESS RELEASE Exhibit Exhibit 99.1April 26,…
To view the full exhibit click here

About USD Partners LP (NYSE:USDP)

USD Partners LP (USD Partners) is a fee-based, master limited partnership formed by US Development Group LLC (USD) to acquire, develop and operate energy-related logistics assets, including rail terminals and other midstream infrastructure. The Company conducts its business through two segments: Terminalling services and Fleet services. Its Terminalling services segment consists operations of Hardisty terminal, Casper terminal and Ethanol terminals. The Fleet services segment provides railcars and fleet services related to the transportation of liquid hydrocarbons and biofuels by rail. Its fleet consists of approximately 3,310 railcars, which it leased from various railcar manufacturers and financial entities. The Company’s principal assets consist of a crude oil origination terminal in Hardisty, Alberta, Canada; a crude oil terminal in Casper, Wyoming, and two unit train-capable ethanol destination terminals in San Antonio, Texas and West Colton, California.

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