NuStar Energy LP, an independent liquids terminal and pipeline operator, has said it has inked a deal to sell its 7.8-million-barrel storage terminal in Nova Scotia, Canada, to EverWind Fuels, for $60 million. In addition, NuStar has reiterated its earnings guidance for the current fiscal.
The transaction is expected to be closed in the first half of 2022. Brad Barron, CEO of NuStar, commented: “This divestiture, at an attractive valuation in line with prior transactions, is yet another step in our strategic plan to continue optimizing our business, building our financial flexibility and strengthening our balance sheet.”
NuStar now expects to spend $130 to $160 million on strategic capital and continues to expect to spend $35 to $45 million on reliability capital for the year, all of which will be funded by internally generated cash flows.
Texas-headquartered NuStar has reiterated its guidance for the year 2022. Accordingly, it expects adjusted EBITDA to be in the range of $700 – $750 million, whereas EBITDA from $660 million to $700 million.
For the current fiscal, the firm expects its net income to be $207 million to $225 million.
For more information visit www.nustarenergy.com
