Criterion News

• 4/11/2022 - Delek Logistics... (subscriber access)
• 5/19/2020 - Delek US Dropping Down... (subscriber access)
• 4/2/2020 - Delek US Drops Down... (subscriber access)
• 5/28/2019 - Delek Acquires 33%... (subscriber access)
• 8/1/2018 - American Midstream... (subscriber access)
• 5/8/2018 - Delek Logistics Closes... (subscriber access)
• 2/27/2018 - Delek Logistics Acquiring Big Spring Logistics Assets for $315 Million in a Dropdown Deal
• 2/20/2018 - Delek Logistics Forms JV with Green Plains Midstream Partners; Acquiring Assets from American Midstream
• 1/2/2018 - Delek Logistics Seeking Minimum Volume Commitments on Paline Pipeline in Texas
• 8/14/2017 - Delek Logistics Reports... (subscriber access)
• 8/14/2017 - Delek Logistics Reports... (subscriber access)
• 5/24/2017 - Delek Logistics Partners... (subscriber access)
• 5/16/2017 - Delek Logistic Partners... (subscriber access)
• 2/28/2017 - Delek Logistics' Caddo... (subscriber access)
• 2/28/2017 - Delek Logistics Ends... (subscriber access)
• 2/28/2017 - Delek Logistics Posts... (subscriber access)
• 11/1/2016 - Caddo Pipeline Project... (subscriber access)
• 11/1/2016 - Delek Logistics Ends... (subscriber access)
• 11/1/2016 - Delek Logistics Posts... (subscriber access)

Press Releases

1/25/2021 - Delek Logistics Partners, LP Increases Quarterly Cash Distribution to $0.91 per Common Limited Partner Unit
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Delek Logistics Partners, LP Increases Quarterly Cash Distribution to $0.91 per Common Limited Partner Unit
Source: PR Newswire
Orignial Article: https://contentapi.cision...
BRENTWOOD, Tenn., Jan. 25, 2021 /PRNewswire/ -- Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") today declared its quarterly cash distribution for the fourth quarter 2020 of $0.91 per common limited partner unit, or $3.64 per common limited partner unit on an annualized basis. This distribution represents a 0.6 percent increase from the distribution for the third quarter 2020 of $0.905 per common limited partner unit ($3.62 per common limited partner unit annualized) and a 2.8 percent increase over Delek Logistics' distribution for the fourth quarter 2019 of $0.885 per common limited partner unit ($3.54 per common limited partner unit annualized). The fourth quarter 2020 cash distribution is payable on February 9, 2021 to unitholders of record on February 2, 2021.
"This marks the 31st consecutive quarterly increase in the cash distribution and demonstrates stability of the business despite a difficult macro energy environment. We delivered on our 5 percent distribution growth target for 2020, while exceeding our year-end guidance levels for both distribution coverage and leverage ratios," said Uzi Yemin, Chairman, President and Chief Executive Officer of Delek Logistics.
About Delek Logistics Partners, LP

Delek Logistics Partners, LP, headquartered in Brentwood, Tennessee, was formed by Delek US Holdings, Inc. (NYSE: DK) ("Delek US") to own, operate, acquire and construct crude oil and refined products logistics and marketing assets.
Safe Harbor Provisions Regarding Forward-Looking Statements

This press release contains forward-looking statements that are based upon current expectations and involve a number of risks and uncertainties. Statements regarding Delek Logistics' future distributions, including the amounts and timing thereof, and other statements concerning current estimates, expectations and projections about future results, performance, prospects, opportunities, plans, actions and events and other statements, concerns, or matters that are not historical facts are "forward-looking statements," within the meaning of federal securities laws. Investors are cautioned that the following important factors, among others, may affect these forward-looking statements: the fact that a substantial majority of Delek Logistics' contribution margin is derived from Delek US, thereby subjecting it to Delek US' business risks; risks and uncertainties related to the effects of the COVID-19 pandemic; risks and costs relating to the age and operational hazards of our assets including, without limitation, costs, penalties, regulatory or legal actions and other effects related to releases, spills and other hazards inherent in transporting and storing crude oil and intermediate and finished petroleum products; the impact of adverse market conditions affecting the business of Delek Logistics, including margins generated by its wholesale fuel business; adverse changes in laws including with respect to tax and regulatory matters and other risks as disclosed in our annual report on Form 10-K, quarterly reports on Form 10-Q and other reports and filings with the United States Securities and Exchange Commission.  
Forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events, and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the statements. There can be no assurance that actual results will not differ from those expected by management or described in forward-looking statements. Delek Logistics undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or which Delek Logistics becomes aware of, after the date hereof.
Tax Considerations

This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that 100 percent of Delek Logistics Partners, LP's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Delek Logistics Partners, LP's distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate for individuals or corporations, as applicable. Nominees, and not Delek Logistics Partners, LP, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors. 
Information about Delek Logistics Partners, LP can be found on its website (www.deleklogistics.com), investor relations webpage (ir.deleklogistics.com), news webpage (www.deleklogistics.com/news) and its Twitter account (@DelekLogistics).

View original content to download multimedia:http://www.prnewswire.com/news-releases/delek-logistics-partners-lp-increases-quarterly-cash-distribution-to-0-91-per-common-limited-partner-unit-301214010.html
SOURCE Delek Logistics

Article Date
1/25/2021
Close
1/12/2021 - Delek Logistics Partners, LP to Host Fourth Quarter 2020 Conference Call on February 24
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Delek Logistics Partners, LP to Host Fourth Quarter 2020 Conference Call on February 24
Source: PR Newswire
Orignial Article: https://contentapi.cision...
BRENTWOOD, Tenn., Jan. 12, 2021 /PRNewswire/ -- Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") today announced that the Partnership intends to issue a press release summarizing fourth quarter 2020 results after the U.S. stock market closes on Tuesday, February 23, 2021. A conference call to discuss fourth quarter 2020 results is scheduled to begin at 7:30 a.m. CT (8:30 a.m. ET) on Wednesday, February 24, 2021.
The live broadcast of this conference call will be available online by going to www.DelekLogistics.com and clicking on the webcasts section of the website. The online replay will be available on the website for 90 days.
Investors may also wish to listen to Delek US Holdings, Inc.'s (NYSE: DK) ("Delek US") fourth quarter 2020 earnings conference call on Wednesday, February 24, 2021 at 8:30 a.m. CT (9:30 a.m. ET) and review Delek US' earnings press release. Market trends and information disclosed by Delek US may be relevant to Delek Logistics, as it is a consolidated subsidiary of Delek US. Investors can find information related to Delek US and the timing of its earnings release online by going to www.DelekUS.com.
About Delek Logistics Partners, LP

Delek Logistics Partners, LP, headquartered in Brentwood, Tennessee, was formed by Delek US Holdings, Inc. (NYSE: DK) to own, operate, acquire and construct crude oil and refined products logistics and marketing assets.
About Delek US Holdings, Inc.

Delek US Holdings, Inc. is a diversified downstream energy company with assets in petroleum refining, logistics, asphalt, renewable fuels and convenience store retailing.  The refining assets consist of refineries operated in Tyler and Big Spring, Texas, El Dorado, Arkansas and Krotz Springs, Louisiana with a combined nameplate crude throughput capacity of 302,000 barrels per day.
The logistics operations consist of Delek Logistics. Delek US and its affiliates also own the general partner and an approximate 80 percent limited partner interest in Delek Logistics. Delek Logistics is a growth-oriented master limited partnership focused on owning and operating midstream energy infrastructure assets.
The convenience store retail business operates approximately 253 convenience stores in central and west Texas and New Mexico.
Information about Delek Logistics Partners, LP can be found on its website (www.deleklogistics.com), investor relations webpage (ir.deleklogistics.com), news webpage (www.deleklogistics.com/news) and its Twitter account (@DelekLogistics).
 

 
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SOURCE Delek Logistics

Article Date
1/12/2021
Close
9/11/2020 - Alerian Index Series September 2020 Index Review
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Alerian Index Series September 2020 Index Review
Source: PR Newswire
DALLAS, Sept. 11, 2020 /PRNewswire/ -- Alerian announced the results of the September quarterly review for the Alerian Index Series. All changes will be implemented as of the close of business on Friday, September 18, 2020.              
• Alerian Midstream Energy Index (AMNA). Summit Midstream Partners (NYSE: SMLP), Green Plains Partners (NASDAQ: GPP), Altus Midstream Co. (NASDAQ: ALTM), and Tidewater Midstream and Infrastructure Ltd. (TSX: TWM) will be removed.
• Alerian US Midstream Energy Index (AMUS). Summit Midstream Partners (SMLP), Green Plains Partners (GPP), and Altus Midstream Co. (ALTM) will be removed.
• Alerian Midstream Energy Select Index (AMEI). PBF Logistics (NYSE: PBFX) and Delek Logistics Partners (NYSE: DKL) will be added.
• Alerian MLP Index (AMZ). Martin Midstream Partners (NASDAQ: MMLP) will be removed.
• Alerian MLP Equal Weight Index (AMZE). Martin Midstream Partners (MMLP) will be removed.
• Alerian Energy Infrastructure Capital Strength Select Index (AMCS). Rattler Midstream (NASDAQ: RTLR) and EnLink Midstream (NYSE: ENLC) will be added.
There are no constituent changes to the Alerian MLP Infrastructure Index (AMZI) and the Alerian Natural Gas MLP Index (ANGI).
Each index will be rebalanced in accordance with its existing methodology. Constituent additions to and deletions from an index do not reflect an opinion by Alerian on the investment merits of the respective securities.
About Alerian
Alerian is a leading independent index provider focused on building innovative, index-based investment strategies. Through indexing, benchmarking and calculation services, Alerian serves the global investment community. Built on a foundation of data rigor and specialty research, Alerian's comprehensive family of indexes includes the leading energy, thematic and smart-beta indexes, such as the first real-time MLP index – The Alerian MLP Index, S-Network Closed-End Fund Index Series, S-Network Global Benchmark Family, S-Network Dividend and Income Indexes and S-Network Renewable and Natural Resources Indexes. Today, Alerian has over $23 billion in total assets tracking its indexes and has over 200 customers world-wide.
View original content:http://www.prnewswire.com/news-releases/alerian-index-series-september-2020-index-review-301128140.html
SOURCE Alerian

Article Date
9/11/2020
Close
6/12/2020 - Cushing® Asset Management and Swank Capital Announce Rebalancing of The Cushing® 30 MLP Index
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Cushing® Asset Management and Swank Capital Announce Rebalancing of The Cushing® 30 MLP Index
Source: PR Newswire
DALLAS, June 12, 2020 /PRNewswire/ -- Cushing^® Asset Management, LP, and Swank Capital, LLC, announce today the upcoming rebalancing of The Cushing^® 30 MLP Index (the "Index") as part of normal index operations. After the markets close on June 19, 2020, the 30 constituents of the Index will be rebalanced, and the following changes will become effective on June 22, 2020:
Constituents added:
Delek Logistics Partners, LP (NYSE: DKL)
PBF Logistics LP (NYSE: PBFX)
Constituents removed:
Oasis Midstream Partners LP (NASDAQ: OMP)
Tellurian Inc. (NASDAQ: TELL)
ABOUT THE CUSHING^® 30 MLP INDEX
The Cushing^® 30 MLP Index tracks the performance of 30 publicly traded midstream energy infrastructure companies, including master limited partnerships (MLPs) and non-MLP energy midstream corporations (each, a "Midstream Company" and collectively, "Midstream Companies"). Constituents of the Index are selected by using a formula-based proprietary valuation model developed by Cushing^® Asset Management, LP to rank Midstream Companies for potential inclusion in the Index. The Index price level is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker "MLPX".
ABOUT CUSHING^® ASSET MANAGEMENT AND SWANK CAPITAL
Cushing^® Asset Management, LP ("Cushing"), a subsidiary of Swank Capital, LLC, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts, providing active management in markets where inefficiencies exist.
Cushing is also dedicated to serving the needs of investors by sponsoring a variety of benchmarks, including The Cushing^® 30 MLP Market Cap Index (Bloomberg Ticker: CMCI) and The Cushing^® MLP High Income Index (Bloomberg Ticker: MLPY). For more information, please visit http://www.cushingasset.com/indices.
Contact:
Jon Abel
214-692-6334
www.cushingasset.com
The Cushing^® 30 MLP Index (the "Index") is the exclusive property of Swank Capital, LLC, and Cushing Asset Management, LP, which have contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices") to calculate and maintain the Index. S&P^® is a registered trademark of Standard & Poor's Financial Services LLC ("SPFS"); Dow Jones^® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and, these trademarks have been licensed to S&P Dow Jones Indices. "Calculated by S&P Dow Jones Indices" and its related stylized mark(s) have been licensed for use by Cushing Asset Management, LP. Neither S&P Dow Jones Indices, SPFS, Dow Jones nor any of their affiliates sponsor and promote the Index and none shall be liable for any errors or omissions in calculating the Index.
 
View original content:http://www.prnewswire.com/news-releases/cushing-asset-management-and-swank-capital-announce-rebalancing-of-the-cushing-30-mlp-index-301074825.html
SOURCE Cushing® Asset Management, LP and Swank Capital, LLC

Article Date
6/12/2020
Close
12/2/2019 - Delek Group Announces Consolidated Third Quarter 2019 Results
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Delek Group Announces Consolidated Third Quarter 2019 Results
Source: PR Newswire
TEL AVIV, Israel, Dec. 2, 2019 /PRNewswire/ -- Delek Group Ltd. (TASE: DLEKG), (TASE: US) and (ADR: DGRLY) (hereinafter: "Delek Group" or "The Group") announced on November 28, 2019 its results for the third quarter period ended September 30, 2018. The full financial statements are available in English on Delek Group's website at: www.delek-group.com  
Third Quarter 2019 Highlights
• Net income amounted to NIS 65 million, compared with NIS 323 million in Q3 2018; the E&P sector contributed NIS 101 million to net income
• The Leviathan project is fully complete, with domestic gas sales and exports to Egypt and Jordan scheduled to begin in the coming weeks
• With the acquisition of Chevron's North Sea assets and the full divestiture of the Phoenix Insurance Company, Delek Group has achieved its strategy of transforming itself into a pure-play international energy firm
Group revenues for 9M19 totaled NIS 6.1 billion, flat with NIS 6.1 billion in 9M18. In the third quarter of 2019, revenues totaled NIS 2.0 billion compared with NIS 2.2 billion in 3Q18, a decrease of 9%. This was mainly driven by lower contribution from Ithaca Energy. These results do not include revenue from the recently acquired Chevron North Sea assets, which will begin to appear on Ithaca's P&L as of 4Q19.    
Group operating profit for 9M19 totaled NIS 1.0 billion, lower than NIS 1.2 billion in 9M18. In the third quarter of 2019 operating profit totaled NIS 306 million compared with NIS 397 million in 3Q18, a decrease of 23%.
Net income for 9M19 totaled NIS 545 million, lower than NIS 736 million in 9M18. In the third quarter of 2019 net income was NIS 65 million compared with NIS 323 million in 3Q18. The difference is due mainly to a large upward revaluation of the Pheonix Insurance Company that occurred in the same period last year. The current cash balance as of November 28, 2019 was approximately NIS 1.0 billion, including unutilized credit lines and marketable securities.
Management Comment
Mr. Asaf Bartfeld, President and CEO of Delek Group, commented, "The sale of the Pheonix Insurance Company, purchase of Chevron's North Sea Assets, and the commencement of gas sales from Leviathan represent the full implementation of Delek Group's strategy, and position it as a leading international energy firm for the next decade."
 
Main Business Highlights
Contribution of Principal Operations to Net Income* (NIS millions)
	Q3	Q3	FY
	2019	2018	2018
Oil and Gas E&P Operations in Israel and its Surroundings	99	123	437
Oil and Gas E&P Operations in the North Sea	2	88	283
Fuel Operations in Israel	30	34	70
Contribution to continuing operations before discontinued operations and capital and other gains	131	245	790
Finance Expenses & Others	(66)	78	(273)
Net Income (Loss) Attributed to Group's Shareholders	65	323	517
 
Oil and Gas Exploration & Production
Delek Group's strategy is to focus on the development of its core assets in the Eastern Mediterranean and the UK's North Sea. Having divested the last of its non-core assets, the Company is now set on becoming a key player in the international energy industry with operational capabilities.
Tamar & Leviathan
Tamar's sold 2.8BCM of natural during 3Q19. The Leviathan project is almost complete, with first commercial gas expected in the next few weeks, and inspections of the undersea EMG pipeline connecting Israel and Egypt have been completed successfully. The pipeline to Jordan is functioning, and the transfer of ownership in EMG shares to the partnership taking control of the infrastructure has been concluded. This means that along with supply to domestic Israeli customers, Leviathan will begin gas exports to Egypt and Jordan by the end of this year.
Ithaca Energy
Ithaca contributed NIS 54 million to Delek Group's operating income in the quarter, compared with a NIS 151 million contribution in 2018. Cashflow from operations stood at a healthy NIS 119 million for the quarter.
Production volumes were impacted by maintenance on the production platform at Stella, and reached 15,700 barrels of oil equivalent per day during 3Q19, below the 16,500 boed seen in the third quarter of 2018. Quartely production costs were USD20.6/boe, up from USD17.1/boe last year. Lower gas prices also had an impact during the quarter, though Ithaca's hedges at average levels of approximately USD 65 per barrel of oil and USD 6.90 per mmbtu of gas mitigated this to some extent.
On a pro-forma basis, taking into account the acquisition of Chevron assets, full year 2019 production is expected to average approximately 75,000 boepd, approximately 60% liquids.  Ithaca's expected average production over the final quarter of the year will be approximately 80,000 boepd.
Downstream Energy Sector
Delek – the Israel Fuel Company Ltd. (fully held by Delek Group); operating profit contribution in the third quarter of 2018 amounted to NIS 41 million compared with NIS 51 million in the third quarter of 2018.
Other Assets
Non-core assets completely divested Delek Group its remaining 32.5% of the Phoenix Insurance Company on November 4, 2019, generating NIS 1.33 billion in cash. On November 10, 2019, Ithaca completed the acquisition of Chevron's North Sea assets, for a total sum of USD 1.67 billion. With these two transactions, the Company has achieved its strategy of transforming itself into a pure-play international E&P firm, with 95% of assets now linked to energy. The focus of the coming year will be the integration of the Chevron assets into Ithaca, with the ultimate goal of launching Ithaca's IPO in London as soon a practically possible.
 
 
Net Financial Debt*
As at 28 November, 2019	NIS Millions
Liabilities
Debentures	6,360
Bank and other loans	2,653
Other liabilities	94
Total liabilities	9,107
Assets
Cash and deposits	453
Pledged deposits	265
Financial investments	381
Loans	490
Seller's loan for the sale of The Phoenix	235
Loans to Ithaca	900
Other payables	38
Treasury shares	207
Total Assets	2,969
Net Financial Debt	6,138
 
*This table, including full notes, is contained in financial reports that will be available on the Group's website at www.delek-group.com
Conference Call Details
The Company will be hosting a conference call in English today on Monday, December 2, 2019 at 3:30pm (Israel Time), 8:30am (ET), 1:30pm (UK). To participate in the conference call, please dial:
Israel:               03-918-0610   
The USA:          1-888-668-9141   
The UK:            0-800-917-5108   
International:     +972-3-918-0610
 
A day following the conference calls, a recording of both the calls will be hosted on the Company's website at: http://ir.delek-group.com.
About The Delek Group
The Delek Group, Israel's dominant integrated energy company, is the pioneering leader of the natural gas exploration and production activities that are transforming the Eastern Mediterranean's Levant Basin into one of the energy industry's most promising emerging regions. Having discovered Tamar and Leviathan, two of the world's largest natural gas finds since 2000, Delek and its partners are now developing a balanced, world-class portfolio of exploration, development and production assets. Ithaca Energy, Delek Group's North Sea operator, concluded the acquisition of Chevron's North Sea assets for USD 1.67 billion in November 2019. The assets include 10 fields producing 60 kboe per day, with 131 mboe of 2P reserves and 45 mboe of 2C reserves.
For more information, please visit www.delek-group.com or email: investor@delek-group.com
 
Contact Information
Yonah Weisz Head of Investor Relations Delek Group Ltd. Tel: +972 9 863 8443 Email: investor@delek-group.com
 
 
View original content:http://www.prnewswire.com/news-releases/delek-group-announces-consolidated-third-quarter-2019-results-300967262.html
SOURCE Delek Group Ltd

Article Date
12/2/2019
Close
8/29/2019 - Delek Group Announces Consolidated Second Quarter 2019 Results
X
Delek Group Announces Consolidated Second Quarter 2019 Results
Source: PR Newswire
TEL AVIV, Israel, Aug. 29, 2019 /PRNewswire/ -- Delek Group Ltd. (TASE: DLEKG) (US ADR: DGRLY), ("Delek Group" or "The Group") this morning reported its results for the second quarter ending June 30, 2019. The full financial statements will be available in English on Delek Group's website at: www.delek-group.com
2Q 2019 Highlights
-  Net income for 2Q19 amounted to NIS 190 million, up 12% compared with NIS 170 million in 2Q18; the E&P sector contributed NIS 85 million to net income
-  The Leviathan project is 90% complete, and remains on schedule for gas sales to begin during 4Q19;  completion of the EMG pipeline transaction is scheduled for the end of September 2019
-  The acquisition of Chevron's North Sea assets is expected to close during 4Q19, marking a significant step in Delek Group's strategy of becoming a pure-play international energy firm
Group revenues in 2Q19 totaled NIS 2,103 million compared with NIS 2,074 million in the same period last year, an increase of 19%. Revenues from Tamar were slightly lower year-on-year, while fuel retail sales demonstrated greater strength.
Group operating profit in 2Q19 totaled NIS 246 million, compared with NIS 459 million in 2Q18, a decrease of 46%. A number of one-off expenses related to Tamar and planned maintenance at Ithaca contributed the drop in profits, which was in part offset by a stronger performance in the downstream sector.
Net income for 2Q19 was NIS 190 million compared with NIS 170 million in the same period last year. The current cash balance as of June 30, 2019 was NIS 1.4 billion, including unutilized credit lines and marketable securities.
Management Comment
Mr. Asaf Bartfeld, President and CEO of Delek Group, commented, "In the coming months, Delek Group will achieve a number of significant and positive milestones. This includes the completion of the sale of the Phoenix Insurance Compay for approximately ILS 1.64 billion, the commencement of gas production at the Leviathan field, and the acquisition of Chevron's North Sea assets. These will strengthen the Group's financial position and cash flow, and increase the potential for returns to shareholders."
Main Business Highlights
Contribution of Principal Operations to Net Income* (NIS millions)
	2Q	2Q	FY
	2019	2018	2018
Oil and Gas E&P Operations in Israel and its Surroundings	58	106	437
Oil and Gas E&P Operations in the North Sea	27	(32)	283
Fuel Operations in Israel	39	27	70
Contribution to continuing operations before discontinued	124	101	790
operations and capital and other gains
Finance Expenses, Asset Sales, and Others	66	69	(273)
Net Income (Loss) Attributed to Group's Shareholders	190	170	517
 
*The full report, including the full notes for the above items, will be available on the Group's website at www.delek-group.com
Oil and Gas Exploration & Production
Delek Group's strategy is to focus on the development of its core assets in the Eastern Mediterranean E&P and expand its activities in global E&P markets, with the goal of becoming a key international player in the energy industry with full operational capabilities.
Tamar & Leviathan
Tamar's gas sales reached 2.4 BCM during 2Q19, slightly lower than 2.6 BCM in the prior period.  A number of one-off expenses reduced Tamar's profits during the second quarter of 2019. These include charges for planned maintenance, higher depreciation, and the loss of an arbitration case with a customer.
The development of the Leviathan project is approximately 90% complete, with the platform and all undersea infrastructure in place. The project remains on schedule for first gas to be delivered by the end of 2019. Inspections of the undersea EMG pipeline connecting Israel and Egypt have been completed successfully, and the Israeli Competition Authority has authorized gas exports to Egypt. Efforts are still ongoing to complete the transfer of ownership in EMG shares to the partnership taking control of the infrastructure, and the acquisition is expected to complete by the end of September 2019. Once concluded, gas exports to Egypt within the context of the Dolphinus sales agreement are set to begin in tandem with the commissioning of Leviathan, expected during 4Q19.
Ithaca Energy
Ithaca, a wholly-owned subsidiary of Delek Group, contributed NIS 49 million to Delek Group's operating income in 2Q19, compared with NIS 78 million in the similar period last year. Profits were lower due to a four week period of planned maintenance during the quarter. Production during 2Q19 was 15,200 barrels of oil equivalent per day (boepd), 19% higher than the 12,800 boepd seen during 1Q18; production for 1H19 was 18,100 boepd compared to 15,500 in 1H18. In total, Ithaca produced approximately 1.4m barrels of oil equivalent this quarter, and 3.3m boe in 1H19.
Following the consolidation of 100% of assets in the Greater Stella Area (GSA) purchased during 4Q18, Ithaca's fixed costs increased, escalating the financial impact of the shutdown for planned maintenance. Per barrel production costs this quarter were USD 27 due to lower output; costs were USD 23 per barrel in 2Q18.
Delek Group and Ithaca continue to secure financing for the acquisition Chevron's North Sea assets. The transaction has an effective date of January 1, 2019 and is expected to close during 4Q19. Accounting for cashflows generated over this period, a net price of approximately USD 1.65 billion is anticipated, along with a payment of USD150m for working capital in place. In addition to this amount, Ithaca will be refinancing its existing debt of approximately USD 550 million. RBLs and bonds with a total value of USD 1.55 billion have already been arranged. Delek Group is negotiating an additional equity inflow of approximately USD 300 million through the issuance of preferred Ithaca shares, and is also seeking a USD150 million advance payment from commodity traders as part of a long-term offtake agreement for Ithaca's oil production. Taking into account a USD200 million deposit already paid to Chevron on the date of signing, Delek Group and Ithaca expect to allocate an additional USD200 million of their own funds to complete the transaction.
Gulf of Mexico
Drilling at the Tau prospect concluded during 1Q19. No discovery of hydrocarbons was made, though the presence of exploitable hydrocarbons was detected. Due to the complex geology of the prospect and the need for specialized drilling equipment, the Group is assessing the conditions for proceeding further at this location.
Downstream Energy Sector
Delek – the Israel Fuel Company Ltd. (fully held by Delek Group): Operating profit in 2Q19 amounted to NIS 67 million compared with NIS 42 million in the same period last year. The improvement was due to the implementation of efficiency measures, as well as a positive revaluation of inventory made during the quarter.
Other Assets
Delek Group's transformation into a global energy firm shifts into high gear. During 2019, Delek Group has made significant strides in disposing non-core operations. During 1Q19, the Group sold 30% of its share in IDE for NIS 530 million. In addition, Delek Group reached an agreement during 2Q19 for the sale of a 32.5% stake in the Phoenix Insurance Company for NIS 1.64 billion, with good progress being made on completion of this transaction. With the acquisition of Chevron's North Sea assets, the Group is delivering on its strategy of becoming a pure-play energy firm in the global E&P sector.
Net Financial Debt*
As at 30 June, 2019	NIS Millions
Liabilities
Debentures	7,242
Bank and other loans	948
Other liabilities	181
Total liabilities	8,371
Assets
Cash and deposits	370
Pledged deposits from swap transactions	168
Financial investments	328
Loans	1,023
Deposit for acquisition of Chevron North Sea	535
Other assets	104
Treasury shares	155
Total Assets	2,683
Net Financial Debt	5,688
*This table, including full notes, is contained in financial reports that will be available on the Group's website at www.delek-group.com
Conference Call Details
The Company will be hosting a conference call in English today on Thursday, August 29, 2019 at 3:30pm (Israel Time), 8:30am (ET), 1:30pm (UK). To participate in the conference call, please dial:
Israel:               03-918-0601
The USA:          1-888-668-9141
The UK:            0-800-917-5108
International:     +972-3-918-0601
A day following the conference calls, a recording of both the calls will be hosted on the Company's website at: http://ir.delek-group.com.
About The Delek Group
Delek Group is an independent E&P and the pioneering visionary behind the development of the East Med. With eight consecutive finds in the Levant Basin, Delek is leading the region's development into a major natural gas export hub. In addition, Delek has embarked on an international expansion with a focus on high-potential opportunities in the North Sea and North America. Delek Group is one of Israel's largest and most prominent companies with a consistent track record of growth. Its shares are traded on the Tel Aviv Stock Exchange (TASE:DLEKG) and are part of the TA 35 Index.
For more information, please visit www.delek-group.com or email: investor@delek-group.com
Contact Information
Yonah Weisz Head of Investor Relations Delek Group Ltd. Tel: +972 9 863 8443 Email: investor@delek-group.com
 
View original content:http://www.prnewswire.com/news-releases/delek-group-announces-consolidated-second-quarter-2019-results-300909054.html
SOURCE Delek Group Ltd

Article Date
8/29/2019
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8/9/2019 - Alerian Reports June 30, 2019 Index Linked Product Positions
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Alerian Reports June 30, 2019 Index Linked Product Positions
Source: PR Newswire
DALLAS, Aug. 9, 2019 /PRNewswire/ -- Alerian reported, as of June 28, 2019, total products directly tied to and tracking the Alerian indices was $13.7 billion.
Exchange traded funds, exchange traded notes, return of capital notes, and variable insurance portfolios represent $12.7 billion of the total $13.7 billion. Below is a list of energy master limited partnership (MLP) positions, as of June 28, 2019, in the $12.7 billion of such assets tracking Alerian's indices.
Ticker	Exposure in Alerian Linked-Products ($)	Exposure in Alerian Linked-Products (Units)		Ticker	Exposure in Alerian Linked-Products ($)	Exposure in Alerian Linked-Products (Units)
AM	2,402,831	209,671		HESM	7,694,422	394,586
AMID	4,919,211	951,492		MMLP	5,598,671	784,128
ANDX	403,075,523	11,094,840		MMP	1,276,581,260	19,946,582
BPL	782,332,474	19,058,038		MPLX	1,273,711,451	39,568,545
BPMP	18,205,543	1,176,069		NBLX	89,522,800	2,691,606
CEQP	220,495,699	6,164,263		NGL	214,053,630	14,492,460
CNXM	14,513,491	1,032,989		NS	331,580,260	12,217,401
CQP	214,074,794	5,075,268		OMP	5,663,726	263,429
DCP	329,731,673	11,253,641		PAA	1,305,749,277	53,624,200
DKL	6,791,101	212,222		PAGP	7,638,294	305,899
ENBL	153,164,680	11,171,749		PBFX	16,284,545	770,319
ENLC	327,210,823	32,429,219		PSXP	342,743,828	6,945,164
EPD	1,277,755,891	44,258,950		SHLX	319,209,192	15,405,849
EQM	462,044,829	10,341,200		SMLP	7,589,588	1,020,106
ET	1,262,122,882	89,639,409		TCP	253,540,259	6,739,507
GEL	298,090,775	13,611,451		TGE	419,509,147	19,872,532
GPP	3,882,098	277,293		USDP	3,861,679	342,044
HEP	156,422,759	5,688,100		WES	773,416,245	25,135,400
About Alerian
Alerian equips investors to make informed decisions about energy infrastructure and Master Limited Partnerships (MLPs). Its benchmarks are widely used by industry executives, investment professionals, research analysts, and national media to analyze relative performance. As of June 28, 2019, nearly $14 billion of products, including exchange traded funds and notes, are directly tied to and tracking the Alerian Index Series. Visit alerian.com to learn more.
View original content:http://www.prnewswire.com/news-releases/alerian-reports-june-30-2019-index-linked-product-positions-300899499.html
SOURCE Alerian

Article Date
8/9/2019
Close
12/14/2018 - Alerian Index Series December 2018 Index Review
X
Alerian Index Series December 2018 Index Review
Source: PR Newswire
DALLAS, Dec. 14, 2018 /PRNewswire/ -- Alerian announced the results of the December quarterly review for the Alerian Index Series. All changes will be implemented as of the close of business on Friday, December 21, 2018.
• Alerian Midstream Energy Index (AMNA). Altus Midstream (NASDAQ: ALTM) and Equitrans Midstream (NYSE: ETRN) will be added.
• Alerian US Midstream Energy Index (AMUS). Altus Midstream (ALTM) and Equitrans Midstream (ETRN) will be added.
• Alerian Midstream Energy Select Index (AMEI). CNX Midstream Partners (NYSE: CNXM) will be added.
• Alerian MLP Index (AMZ) and Alerian MLP Equal Weight Index (AMZE). Antero Midstream GP (NYSE: AMGP), American Midstream Partners (NYSE: AMID), CNX Midstream Partners (CNXM), Delek Logistics Partners (NYSE: DKL), EnLink Midstream LLC (NYSE: ENLC), EQGP Holdings (NYSE: EQGP), Green Plains Partners (NASDAQ: GPP), Hess Midstream Partners (NYSE: HESM), Martin Midstream Partners (NASDAQ: MMLP), Oasis Midstream Partners (NYSE: OMP), PBF Logistics (NYSE: PBFX), Sanchez Midstream Partners (NYSEAMERICAN: SNMP), TransMontaigne Partners (NYSE: TLP), USD Partners (NYSE: USDP), and Western Gas Equity Partners (NYSE: WGP) will be added.
AmeriGas Partners (NYSE: APU), Alliance Resource Partners (NASDAQ: ARLP), GasLog Partners (NYSE: GLOP), Golar LNG Partners (NASDAQ: GMLP), Hi-Crush Partners (NYSE: HCLP), Suburban Propane Partners (NYSE: SPH), Sunoco (NYSE: SUN), Teekay LNG Partners (NYSE: TGP), USA Compression Partners (NYSE: USAC), and Viper Energy Partners (NASDAQ: VNOM) will be removed.
• Alerian Energy Infrastructure Capital Strength Select Index (AMCS). Buckeye Partners (NYSE: BPL), Equitrans Midstream (ETRN), and HollyFrontier (NYSE: HFC) will be added. EQGP Holdings (EQGP) will be removed.
There are no constituent changes to the Alerian MLP Infrastructure Index (AMZI) or the Alerian Natural Gas MLP Index (ANGI).
In addition, each index will be rebalanced in accordance with its existing methodology. Constituent additions to and deletions from an index do not reflect an opinion by Alerian on the investment merits of the respective securities.
About Alerian
Alerian equips investors to make informed decisions about energy infrastructure and Master Limited Partnerships (MLPs). Its benchmarks are widely used by industry executives, investment professionals, research analysts, and national media to analyze relative performance. As of November 30, 2018, over $13 billion is directly tied to the Alerian Index Series through exchange-traded funds and notes, separately managed accounts, and structured products. Visit alerian.com to learn more.
View original content:http://www.prnewswire.com/news-releases/alerian-index-series-december-2018-index-review-300765593.html
SOURCE Alerian

Article Date
12/14/2018
Close
6/28/2017 - Alon USA Energy Stockholders Approve Merger Transaction
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Alon USA Energy Stockholders Approve Merger Transaction
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
DALLAS, June 28, 2017 /PRNewswire/ -- Alon USA Energy, Inc. (NYSE: ALJ) ("Alon") today announced that the stockholders of Alon have approved all proposals related to the previously announced merger transaction pursuant to which Delek US Holdings, Inc. ("Delek") will acquire all of the outstanding shares of Alon common stock which it does not already own in an all-stock transaction. At a special meeting held today by Alon, approximately 89% of Alon's outstanding shares and 79% of Alon's outstanding shares beneficially owned by holders of Alon common stock other than Delek and its affiliates voted to approve the adoption of the previously disclosed merger agreement and the transaction. Of the shares voted, approximately 99% were cast in favor of the proposal. The closing of the transaction is subject to approval by the stockholders of Delek at a special meeting of Delek stockholders on June 29, 2017. Alon expects the transaction to close effective as of July 1, 2017.
About Delek US Holdings, Inc.
Delek US Holdings, Inc. (NYSE: DK) is a diversified downstream energy company with assets in petroleum refining and logistics. The refining segment consists of refineries operated in Tyler, Texas and El Dorado, Arkansas with a combined nameplate production capacity of 155,000 barrels per day. Delek and its affiliates also own approximately 63 percent (including the 2 percent general partner interest) of Delek Logistics Partners, LP. Delek Logistics Partners, LP (NYSE: DKL) is a growth-oriented master limited partnership focused on owning and operating midstream energy infrastructure assets. Delek currently owns approximately 47 percent of the outstanding common stock of Alon.
About Alon USA
Alon USA Energy, Inc., headquartered in Dallas, Texas, is an independent refiner and marketer of petroleum products, operating primarily in the South Central, Southwestern and Western regions of the United States. Alon owns 100% of the general partner and 81.6% of the limited partner interests in Alon USA Partners, LP (NYSE: ALDW), which owns a crude oil refinery in Big Spring, Texas, with a crude oil throughput capacity of 73,000 barrels per day and an integrated wholesale marketing business. In addition, Alon directly owns a crude oil refinery in Krotz Springs, Louisiana, with a crude oil throughput capacity of 74,000 barrels per day. Alon also owns crude oil refineries in California, which have not processed crude oil since 2012. Alon owns a majority interest in a renewable fuels facility in California, with a throughput capacity of 3,000 barrels per day. Alon is a leading marketer of asphalt, which it distributes primarily through asphalt terminals located predominately in the Southwestern and Western United States. Alon is the largest 7-Eleven licensee in the United States and operates approximately 300 convenience stores which also market motor fuels in Central and West Texas and New Mexico.
Safe Harbor Provisions Regarding Forward-Looking Statements
This press release contains forward-looking statements that are based upon current expectations and involve a number of risks and uncertainties. Statements concerning current estimates, expectations and projections about future results, performance, prospects, opportunities, plans, actions and events and other statements, concerns, or matters that are not historical facts are "forward-looking statements," as that term is defined under the federal securities laws. These forward-looking statements include, but are not limited to, statements regarding the proposed merger with Alon, integration and transition plans, synergies, opportunities, anticipated future performance and financial position, and other factors.
Investors are cautioned that the following important factors, among others, may affect these forward-looking statements. These factors include but are not limited to: risks and uncertainties related to the expected timing and likelihood of completion of the proposed merger, including the timing, terms and conditions of any required governmental and regulatory approvals of the proposed merger that could reduce anticipated benefits or cause the parties to abandon the transaction, the ability to successfully integrate the businesses, the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, the possibility that stockholders of Delek may not approve the issuance of new shares of common stock in the merger, the risk that the parties may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all, risks related to disruption of management time from ongoing business operations due to the proposed transaction, the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of Delek's common stock or Alon's common stock, the risk that the proposed transaction and its announcement could have an adverse effect on the ability of Delek and Alon to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally, the risk that problems may arise in successfully integrating the businesses of the companies, which may result in the combined company not operating as effectively and efficiently as expected, the risk that the combined company may be unable to achieve cost-cutting synergies or it may take longer than expected to achieve those synergies, uncertainty related to timing and amount of future share repurchases and dividend payments, risks and uncertainties with respect to the quantities and costs of crude oil we are able to obtain and the price of the refined petroleum products we ultimately sell; gains and losses from derivative instruments; management's ability to execute its strategy of growth through acquisitions and the transactional risks associated with acquisitions and dispositions; acquired assets may suffer a diminishment in fair value as a result of which we may need to record a write-down or impairment in carrying value of the asset; changes in the scope, costs, and/or timing of capital and maintenance projects; operating hazards inherent in transporting, storing and processing crude oil and intermediate and finished petroleum products; our competitive position and the effects of competition; the projected growth of the industries in which we operate; general economic and business conditions affecting the southern United States; and other risks contained in Delek's and Alon's filings with the United States Securities and Exchange Commission.
Forward-looking statements should not be read as a guarantee of future performance or results and will not be accurate indications of the times at or by which such performance or results will be achieved. Forward-looking information is based on information available at the time and/or management's good faith belief with respect to future events, and is subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Delek and Alon undertake no obligation to update or revise any such forward-looking statements, except as required by applicable law or regulation.
Alon USA Investor/Media Relations Contacts:
Stacey Morris, Investor Relations Manager
Alon USA Energy, Inc.
972-367-3808
Investors: Jack Lascar
Dennard § Lascar Associates, LLC
713-529-6600
Media: Blake Lewis
Three Box Strategic Communications
214-635-3020
 
SOURCE Alon USA Energy, Inc.

Article Date
6/28/2017
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