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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 1/16/20 Genesis Energy LP 8-K:1,8,9 1/16/20 14:939K Donnelley … Solutions/FA |
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EX-5.1 |
Exhibit 5.1
Genesis Energy, L.P.
Genesis Energy Finance Corporation
919 Milam, Suite 2100
Re: | Genesis Energy, L.P. |
Genesis Energy Finance Corporation
Registration Statement on Form S-3
Ladies and Gentlemen:
We have acted as counsel to Genesis Energy, L.P., a Delaware limited partnership (the “Partnership”), and Genesis Energy Finance Corporation, a Delaware corporation (“Finance Corp” and, together with the Partnership, the “Issuers”), in connection with the registration, pursuant to a Registration Statement on Form S-3 (File No. 333-224380) (the “Registration Statement”), filed with the Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “Act”), of the offering and sale by the Issuers of $750,000,000 aggregate principal amount of 7.750% Senior Notes due 2028 (the “Notes”), including the guarantees (the “Guarantees”) of the Notes by the Partnership’s subsidiaries (the “Subsidiary Guarantors” and, together with the Issuers, the “Obligors”) listed on Schedule I hereto (including the Specified Guarantors (as defined below)), to be issued under an Indenture (the “Base Indenture”) dated as of May 21, 2015, among the Partnership, Finance Corp, the Subsidiary Guarantors and U.S. Bank, National Association, as Trustee (the “Trustee”), as supplemented by the Fourteenth Supplemental Indenture thereto dated as of January 16, 2020, among the Partnership, Finance Corp, the Subsidiary Guarantors and the Trustee (the “Fourteenth Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), and sold pursuant to the terms of an underwriting agreement (the “Underwriting Agreement”), dated January 16, 2020, among the Obligors and BMO Capital Markets Corp., as representative of the underwriters named therein (the “Underwriters”). For purposes of this opinion letter, the term “Specified Guarantors” means the Subsidiary Guarantors other than (i) Genesis Pipeline Alabama, LLC, (ii) Red River Terminals, L.L.C. and (iii) TDC, L.L.C. This opinion is being furnished in accordance with the requirements of Item 601(b)(5) of Regulation S-K under the Act.
We have examined originals or certified copies of such corporate or other entity records of the Issuers and the Specified Guarantors and other certificates and documents of officials of the Issuers and the Specified Guarantors, public officials and others as we have deemed appropriate for purposes of this letter. We have assumed the genuineness of all signatures, the legal capacity of all natural persons, the authenticity of all documents submitted to us as originals, the conformity to authentic original documents of all copies submitted to us as conformed, certified or reproduced copies and that the Notes will conform to the specimen thereof we have reviewed. We have also assumed the existence and entity power to execute and deliver the Indenture of, and the due authorization, execution and delivery of the Indenture by, each of the parties thereto other than the
Issuers and the Specified Guarantors, and that the Indenture is a valid and binding obligation of the Trustee, enforceable against the Trustee in accordance with its terms. As to various questions of fact relevant to this letter, we have relied, without independent investigation, upon certificates of public officials and certificates of officers of the Issuers and the Specified Guarantors, all of which we assume to be true, correct and complete.
Based upon the foregoing and subject to the assumptions, exceptions, qualifications and limitations set forth herein, we are of the opinion that, when the Notes have been duly executed by the Issuers, duly authenticated by the Trustee in accordance with the terms of the Indenture, and issued and delivered by or on behalf of the Issuers to and paid for by the Underwriters pursuant to the terms of the Underwriting Agreement, (i) the Notes will be valid and binding obligations of the Issuers, enforceable against the Issuers in accordance with their terms, and (ii) the Guarantees of the Subsidiary Guarantors will be valid and binding obligations of the Subsidiary Guarantors, enforceable against the Subsidiary Guarantors in accordance with their terms.
The opinions and other matters in this letter are qualified in their entirety and subject to the following:
A. | We express no opinion as to the laws of any jurisdiction other than the laws of (i) the Revised Uniform Limited Partnership Act of the State of Delaware, (ii) the Delaware Limited Liability Company Act, (iii) the Business Organizations Code of the State of Texas, (iv) the laws of the State of New York, and (v) the General Corporation Law of the State of Delaware. |
B. | The matters expressed in this letter are subject to and qualified and limited by (i) applicable bankruptcy, insolvency, fraudulent transfer and conveyance, reorganization, moratorium and similar laws affecting creditors’ rights and remedies generally; (ii) general principles of equity, including without limitation, concepts of materiality, reasonableness, good faith and fair dealing and the possible unavailability of specific performance or injunctive relief (regardless of whether considered in a proceeding in equity or at law); and (iii) securities laws and public policy underlying such laws with respect to rights to indemnification and contribution. |
C. | This opinion letter is limited to the matters expressly stated herein and no opinion is to be inferred or implied beyond the opinion expressly set forth herein. We undertake no, and hereby disclaim any, obligation to make any inquiry after the date hereof or to advise you of any changes in any matter set forth herein, whether based on a change in the law, a change in any fact relating to the Obligors or any other person or any other circumstance. |
We hereby consent to the filing of this opinion as an exhibit to a Current Report on Form 8-K filed by the Partnership with the Commission on or about the date hereof, to the incorporation by reference of this opinion into the Registration Statement and to the use of our name in the Preliminary Prospectus Supplement dated January 8, 2020 and the Final Prospectus Supplement dated January 9, 2020 forming a part of the Registration Statement under the caption “Legal Matters.” In giving this consent, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Act and the rules and regulations thereunder.
Very truly yours, |
/s/ Akin, Gump, Strauss, Hauer, & Feld, LLP |
AKIN, GUMP, STRAUSS, HAUER, & FELD, LLP |
Schedule I
Guarantors
Subsidiary Guarantor |
State or
other | |
AP Marine, LLC | Delaware | |
BR Port Services, LLC | Delaware | |
Cameron Highway Oil Pipeline Company, LLC | Delaware | |
Cameron Highway Pipeline GP, L.L.C. | Delaware | |
Cameron Highway Pipeline I, L.P. | Delaware | |
Casper Express Pipeline, LLC | Delaware | |
Davison Petroleum Supply, LLC | Delaware | |
Davison Transportation Services, Inc. | Delaware | |
Davison Transportation Services, LLC | Delaware | |
Deepwater Gateway, L.L.C. | Delaware | |
Flextrend Development Company, L.L.C. | Delaware | |
GEL CHOPS GP, LLC | Delaware | |
GEL CHOPS I, L.P. | Delaware | |
GEL CHOPS II, L.P. | Delaware | |
GEL Deepwater, LLC | Delaware | |
GEL IHUB, LLC | Delaware | |
GEL Louisiana Fuels, LLC | Delaware | |
GEL Odyssey, LLC | Delaware | |
GEL Offshore Pipeline, LLC | Delaware | |
GEL Offshore, LLC | Delaware | |
GEL Paloma, LLC | Delaware | |
GEL Pipeline Offshore, LLC | Delaware | |
GEL Poseidon, LLC | Delaware | |
GEL Sekco, LLC | Delaware | |
GEL Tex Marketing, LLC | Delaware | |
GEL Texas Pipeline, LLC | Delaware | |
GEL Wyoming, LLC | Delaware | |
Genesis BR, LLC | Delaware | |
Genesis CHOPS I, LLC | Delaware | |
Genesis CHOPS II, LLC | Delaware | |
Genesis Crude Oil, L.P. | Delaware | |
Genesis Davison, LLC | Delaware | |
Genesis Deepwater Holdings, LLC | Delaware | |
Genesis Energy, LLC | Delaware | |
Genesis Free State Holdings, LLC | Delaware | |
Genesis GTM Offshore Operating Company, LLC | Delaware | |
Genesis IHUB Holdings, LLC | Delaware | |
Genesis Marine, LLC | Delaware | |
Genesis NEJD Holdings, LLC | Delaware | |
Genesis Odyssey, LLC | Delaware |
Subsidiary Guarantor |
State or
other | |
Genesis Offshore, LLC | Delaware | |
Genesis Offshore Holdings, LLC | Delaware | |
Genesis Pipeline Alabama, LLC | Alabama | |
Genesis Pipeline Texas, L.P. | Delaware | |
Genesis Pipeline USA, L.P. | Delaware | |
Genesis Poseidon, LLC | Delaware | |
Genesis Poseidon Holdings, LLC | Delaware | |
Genesis Rail Services, LLC | Delaware | |
Genesis Sailfish Holdings, LLC | Delaware | |
Genesis Sekco, LLC | Delaware | |
Genesis SMR Holdings, LLC | Delaware | |
Genesis Syngas Investments, L.P. | Delaware | |
Genesis Texas City Terminal, LLC | Delaware | |
High Island Offshore System, L.L.C. | Delaware | |
Manta Ray Gathering Company, L.L.C. | Texas | |
Matagorda Offshore, LLC | Texas | |
Milam Services, Inc. | Delaware | |
Poseidon Pipeline Company, L.L.C. | Delaware | |
Red River Terminals, L.L.C. | Louisiana | |
Sailfish Pipeline Company, L.L.C. | Delaware | |
Seahawk Shoreline System, LLC | Texas | |
Southeast Keathley Canyon Pipeline Company, L.L.C. | Delaware | |
TDC Services, LLC | Delaware | |
TDC, L.L.C. | Louisiana | |
Texas City Crude Oil Terminal, LLC | Delaware | |
Thunder Basin Holdings, LLC | Delaware |
This ‘8-K’ Filing | Date | Other Filings | ||
---|---|---|---|---|
Filed on / For Period end: | 1/16/20 | |||
1/9/20 | 8-K | |||
1/8/20 | 424B5, 8-K, EFFECT | |||
5/21/15 | 8-K | |||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/23/24 Genesis Energy LP 10-K 12/31/23 142:21M 2/24/23 Genesis Energy LP 10-K 12/31/22 144:22M 2/24/22 Genesis Energy LP 10-K 12/31/21 144:60M 3/01/21 Genesis Energy LP 10-K 12/31/20 143:17M 12/14/20 Genesis Energy LP 424B5 1:1.4M Donnelley … Solutions/FA 12/10/20 Genesis Energy LP 424B5 1:1.4M Donnelley … Solutions/FA |