Genesis Energy LP said Tuesday that a secondary public offering of about 6.3 million common units in the company was priced at $20.50 per unit.
The units are owned by Denbury Onshore LLC and Denbury Gathering & Marketing Inc., affiliates of Denbury Resources Inc., James E. Davison, one of the directors of Genesis' general partner and two other Davison family members.
Genesis will not receive any of the offering's proceeds and the number of its outstanding units will stay the same.
The underwriters were given a 30-day option to buy up to 937,500 additional units owned by the Davisons.
Genesis Energy is a limited partnership company that operates oil and gas storage facilities, refineries, barges and trucks. Most of its businesses in Gulf states.
