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Oiltanking Partners L.P. (OILT) |
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Oiltanking Partners L.P. (NYSE:OILT) is a limited partnership which runs a oil and petroleum transportation, storage, and terminaling system. The company primarily operates in the Gulf Coast area and owns pipelines which are used to transport crude oil and petroleum from their source to storage facilities and then distributed. Oiltanking Partners makes money by charging a fees through long term contracts with oil and gas clients which need their goods offloaded, stored, and transported. Most of the revenue comes from customers who reserve space to store their oil and gas in Oiltanking Partners' facilities [1]
Business Overview
For the full year 2010, the total revenue was $116M, a 16% increase over the previous year. For the same period, the net income was $38M.[2]
New Updates
The company's initial public offering of stock on the NYSE occurred on July 13, 2011. The company offered 10M shares each for $21.5. This was just above the proposed price range of $19-$21. The deal raised a total of $215M. The lead underwriters were Citigroup (C), Barclays (BCS), J P Morgan Chase (JPM), and Morgan Stanley (MS).[3]
Trends & Forces
Reliance on marine crude oil supplies
Oiltanking Partners' facilities are built to take crude oil and petroleum off tanker ships, store them, and distribute them throughout the Gulf region. However, this means that the company is reliant on the continued inflow of oil and gas from marine sources. If the region begins to generate oil and gas via land rigs or decreases marine fuel demand for another reason, Oiltanking Partners would be negatively effected. This drop in offshore drilling along the coast could also be caused by natural disasters such as hurricanes or government regulation.[4]
- ↑ OILT S-1/A 2011 PROSPECTUS SUMMARY "Overview" pg 1-2
- ↑ OILT S-1/A 2011 PROSPECTUS SUMMARY "Summary Historical and Pro Forma Financial and Operating Data" pg 15-16
- ↑ Renaissance Capital - IPO Home "Oiltanking Partners prices IPO at $21.50, above the range"
- ↑ OILT S-1/A 2011 PROSPECTUS SUMMARY "Risk Factors" pg 6
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