San Antonio’s NuStar’s Earnings Jumped 20% in 3Q
11.11.2019 - NEWS

November 11, 2019 [San Antonio Express News] – NuStar Energy on Tuesday reported strong third-quarter income from continuing operations of $53 million, up 20 percent from a year earlier as business for its pipeline systems picked up.

The San Antonio master-limited partnership said cash available to be distributed to limited partners in the quarter ended was also up. It said $88 million was available, a 14 percent increase from $77 million in last year’s third quarter.

“Our strong third quarter 2019 results were primarily driven by continued volume ramp on our Permian Crude System, as well as a contribution from our new Taft 30-inch pipeline utilized for crude exports out of our Corpus Christi North Beach terminal,” NuStar President and CEO Brad Barron said in a statement.

The company also cut its debt load in the quarter, which Barron attributed to the sale of NuStar’s St. Eustatius facility in the Caribbean in July.

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