NuStar Energy LP (NYSE:NS) has announced a public offering of 4,400,000 of it’s common units. The offering is pursuant to an effective shelf registration statement was previously filed with the Securities and Exchange Commission. The underwriters of the offering have been granted a 30 day option for the purchase of an additional 660,000 common units. The company expects to sell 345,000 common units to William Greehey, NuStar GP, LLC’s Chairman of the Board, and 4,000 common units to Rodman Patton, NuStar GP, LLC member of the board. Joint book-running managers of the offering are Citigroup Global Markets, Inc., Barclays Capital, Inc., and JP Morgan Securities, Inc.
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NuStar Energy L.P. (NuStar Energy) is engaged in the terminalling and storage of petroleum products, the transportation of petroleum products and anhydrous ammonia and asphalt and fuels marketing. The Company operates in three segments: storage, transportation, and asphalt and fuels marketing. As of December 31, 2009, its assets included: 58 refined product terminal facilities providing approximately 61.4 million barrels of storage capacity and one crude oil terminal facility providing 4.9 million barrels of storage capacity; 60 crude oil storage tanks providing storage capacity of 12.5 million barrels; 5,605 miles of refined product pipelines with 21 associated terminals providing storage capacity of 4.6 million barrels and two tank farms providing storage capacity of 1.2 million barrels; 2,000 miles of anhydrous ammonia pipelines; 812 miles of crude oil pipelines with 16 associated storage tanks.
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