Organization

12 Months Ended

Dec. 31, 2011

Organization [Abstract]

Organization

1. Organization

We are a growth-oriented limited partnership focused on the midstream segment of the oil and gas industry in the Gulf Coast region of the United States, primarily Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida and in the Gulf of Mexico. We have a diverse portfolio of assets, including pipelines, refinery-related plants, storage tanks and terminals, barges and trucks. We were formed in 1996 and are owned 100% by our limited partners. Genesis Energy, LLC, our general partner, is a wholly-owned subsidiary. Our general partner has sole responsibility for conducting our business and managing our operations. We conduct our operations and own our operating assets through our subsidiaries and joint ventures. We manage our businesses through the following three divisions that constitute our reportable segments:

• Pipeline transportation of crude oil and carbon dioxide (or "CO₂");

• Refinery services involving processing of high sulfur (or "sour") gas streams for refineries to remove the sulfur, and sale of the related by-product, sodium hydrosulfide (or "NaHS", commonly pronounced nash); and

• Supply and logistics services, which includes terminaling, blending, storing, marketing, and transporting crude oil, and petroleum products and, on a smaller scale, CO₂.

On December 28, 2010, we permanently eliminated our incentive distribution rights ("IDRs") and converted our 2% general partner interest into a non-economic interest, which we refer to as our IDR Restructuring. We issued Class A Units, Class B Units and Waiver Units to the former stakeholders of our general partner in exchange for the elimination of our IDRs. See Note 11 for additional discussion of our capital structure.