Buckeye Partners, L.P. is a publicly traded partnership (NYSE: BPL) that owns and operates one of the largest independent refined petroleum products pipeline systems in the United States in terms of volumes delivered, with approximately 5,400 miles of pipeline; owns 64 active refined petroleum products terminals; operates and maintains approximately 2,200 miles of pipeline under agreements with major oil and chemical companies; owns a major natural gas storage facility in northern California; and markets refined petroleum products in certain of the geographic areas served by its pipeline and terminal operations.
Buckeye GP Holdings, L.P. (NYSE: BGH) owns and controls the general partner of Buckeye Partners. Please see the Buckeye GP Holdings website at www.buckeyegp.com for more information.
April 30, 2009 . . . Buckeye Partners, L.P. (NYSE: BPL) (“Buckeye”) today reported its financial results for the first quarter of 2009. Net income attributable to Buckeye’s unitholders for the first quarter of 2009 was $53.8 million, or $0.87 per LP unit, compared with net income attributable to Buckeye’s unitholders of $42.8 million, or $0.72 per LP unit, for the first quarter of 2008.
April 24, 2009 . . . Buckeye Partners, L.P. (NYSE: BPL) (“Buckeye”) today announced that the underwriters of its recent equity offering have exercised their option in full to purchase an additional 390,000 limited partnership units. This sale is part of Buckeye’s equity offering that was priced on March 26, 2009. The underwriters had a 30-day option to purchase up to 390,000 additional limited partnership units. Buckeye intends to use the net proceeds from this offering to reduce the indebtedness outstanding under its revolving credit facility.