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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 25, 2004
GENESIS ENERGY, L.P.
(Exact name of registrant as specified in its charter)
Delaware 1-12295 76-0513049
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
500 Dallas, Suite 2500, Houston, Texas 77002
(Address of principal executive offices) (Zip Code)
(713) 860-2500 (Registrant's
telephone number, including area code)
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Item 5. Other Events.
On June 25, 2004, Genesis Energy, L.P. ("GELP") announced a settlement with the
Justice Department, the U.S. Environmental Protection Agency, and the State of
Mississippi for penalties and natural resource restoration and damages resulting
from the Leaf River oil spill that occurred in Mississippi in December of 1999.
Genesis will incur penalties totaling $3.0 million consisting of a $1.0 million
civil penalty anticipated to be paid during the third quarter of 2004 and
performance during 2004 of a land acquisition and conservation supplemental
environmental project within the Leaf River watershed at a cost of at least $2.0
million. Additionally, Genesis will be responsible for performing natural
resource damage assessment projects, paying for governmental oversight and for
other special projects over the course of the next five years.
The terms of the settlement were anticipated by Genesis as it took charges in
2002 and 2003 for $3.0 million in penalties and associated costs related to the
spill. Genesis does not expect the conservation supplemental environmental
project to materially exceed $2.0 million. Substantially all other costs related
to the spill have been or are expected to be covered by insurance. Genesis
expects that there will be no financial reporting impact in 2004 resulting from
this settlement or from the spill.
This settlement resolves claims under the federal Clean Water Act and Oil
Pollution Act and the Mississippi Air and Water Pollution Control Law. This
settlement is in addition to more than $20 million that Genesis spent to clean
up the spill, substantially all of which was covered by insurance.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
99.1 Copy of Genesis Energy, L.P.'s press release dated
June 25, 2004
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GENESIS ENERGY, L.P.
(A Delaware Limited Partnership)
By: GENESIS ENERGY, Inc., as
General Partner
Date: June 28, 2004 By: /s/ ROSS A. BENAVIDES
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Ross A. Benavides
Chief Financial Officer
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