Q2 2021 BP Midstream Partners LP Earnings Call

Interest payments and lower maintenance capital expenditures during the quarter.

Our distribution coverage ratio for the second quarter was around 1.2 times.

This reflected a second quarter declared distribution of $34.75 per unit consistent with the distribution level for the first quarter 2021.

With this coverage ratio, we continue to build cash, adding around $8 million to our cash balance during the quarter.

We continued to progress our organic growth projects during the quarter commencing construction activities that will increase the capacity of the river Rouge onshore pipeline.

In light of this morning's announcement and our temporary suspension of forward guidance. The Q&A portion of our call today will be limited to our operational and financial performance for the second quarter.

We will not be able to elaborate further regarding BP pipelines is offer and we will not be able to take questions relating to future guidance or expectations for future performance.

You again for joining our call today, we will now take your questions.

Ladies and gentlemen at this time well begin the question and answer session.

To ask a question you May press Star and then 1 on your Touchtone telephone. If you are using a speaker phone. We do ask you. Please pickup your handset before pressing the keys.

To withdraw your questions you May press star into once again that is star and then 1 particularly on the question queue.

We will pause momentarily to assemble the roster.

And our first question today comes from Ryan Levine from Citi. Please go ahead with your question.

Hi, good morning.

To the extent, you're not sure if you're going to be able to answer it but procedurally realizing recognizing your limitations around the transaction that was announced.

Does the partnership have a voting procedure or can you speak to what's in the partnership agreement around requirements for voting from unit holders or the port.

Thanks, Bryan Unfortunately.

And thanks for the question as I mentioned earlier, we won't be able to elaborate any further.

Today on the offer that BP has offered and it's really too early at this point to speak to this the offer was just received yesterday.

We would expect each party to look to the partnership agreement in the performance and requirements of their duties with respect to the offer.

Okay.

That's all from me thanks.

Once again, if you would like to ask a question. Please press star and then 1.

Withdraw your question you May press Star 2.

And ladies and gentlemen, im showing no additional questions. We'll end today's question and answer session as well as today's webcast. We do thank you for joining today's presentation. You may now disconnect.

Your lives.

Okay.

[music].