GENESIS ENERGY LP
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 5, 2026
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14. Transactions with Related Parties
- Transactions with Related Parties
The transactions with related parties were as follows:
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Revenues and billings: | ||||
| Charges for products and services provided to Poseidon(1) | $5,382 | $4,661 | $17,339 | $12,978 |
| Costs and expenses: | ||||
| Amounts paid to our CEO in connection with the use of his aircraft | $165 | $165 | $495 | $495 |
| Charges for products purchased from Poseidon(1) | 1,412 | 266 | 5,148 | 808 |
(1)We own a 64% interest in Poseidon.
Our CEO, Mr. Grant E. Sims, owns an aircraft which is used by us for business purposes in the course of operations. We pay Mr. Sims a fixed monthly fee and reimburse the aircraft management company for costs related to our usage of the aircraft, including fuel and the actual out-of-pocket costs. Based on current market rates for chartering of a private aircraft under long-term, priority arrangements with industry recognized chartering companies, we believe that the terms of this arrangement reflect what we would expect to obtain in an arms-length transaction.
Transactions with Unconsolidated Affiliates
Poseidon
We provide management, administrative and pipeline operator services to Poseidon under an Operation and Management Agreement. Currently, that agreement automatically renews annually unless terminated by either party (as defined in the agreement). Our revenues for the three and nine months ended September 30, 2026 includes $2.7 million and $8.2 million, respectively, of fees we earned through the provision of services under that agreement. Our revenues for the three and nine months ended September 30, 2025 includes $2.7 million and $8.0 million, respectively, of fees we earned through the provision of services under that agreement. At September 30, 2026 and December 31, 2025, Poseidon owed us $4.1 million and $4.3 million, respectively, for services rendered.
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