---
schema_version: "secwatch.filing_event.v1"
accession: "0001022321-22-000036"
form_type: "8-K"
ticker: "GEL"
cik: "0001022321"
company_name: "GENESIS ENERGY LP"
filed_at: "2022-05-04T23:59:59+00:00"
generated_at: "2026-06-26T00:19:31.555265+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# GEL Q1 net loss narrows to $5.3M; announces $500M Gulf of Mexico pipeline expansion

## Summary
- Net loss attributable to GEL of $5.3M vs $34.2M loss in Q1 2021; Adjusted EBITDA $143.1M.
- Total Segment Margin $157.5M; Available Cash before Reserves $55.7M, coverage 3.03x on $0.15/unit distribution.
- Entered agreements to transport crude from two deepwater developments (160K bbl/d capacity); expects ~$500M capex for CHOPS expansion & SYNC pipeline.
- Sold Independence Hub platform for $40M gross ($32M net to GEL); combined with prior CHOPS sale pre-funds most expansion capex.
- Raises 2022 guidance to high end: Segment Margin $620-640M, Adjusted EBITDA $565-585M (excl. Independence Hub gain).

## SEC filing metadata
- accession: 0001022321-22-000036
- form_type: 8-K
- ticker: GEL
- cik: 0001022321
- company_name: GENESIS ENERGY LP
- filed_at: 2022-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1022321/000102232122000036/0001022321-22-000036-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1022321/000102232122000036/gel-20220504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001022321-22-000036
- JSON: https://secwatch.observer/filing/0001022321-22-000036.json
- Plain text: https://secwatch.observer/filing/0001022321-22-000036.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.