Subsequent Events

9 Months Ended

Sep. 30, 2020

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

We have evaluated subsequent events through the issuance of these condensed consolidated financial statements. Based on this evaluation, it was determined that no subsequent events occurred, other than the items noted below, that require recognition or disclosure in the condensed consolidated financial statements.

Distribution

On October 15, 2020, we declared a cash distribution of $0.3475 per limited partner unit to unitholders of record on October 29, 2020, for the three months ended September 30, 2020. The distribution, combined with distributions to our General Partner, will be paid on November 12, 2020, and will total $37.6 million, with $16.6 million distributed to our non-affiliated common unitholders, and $21.0 million, including $1.2 million for IDRs distributed to our Parent in respect of its ownership of our common units, subordinated units and IDRs.

Throughput and Deficiency Agreements

On November 3, 2020, the Partnership entered into throughput and deficiency agreements with BP Products with respect to volumes transported on the following lines (i) BP2 crude oil pipeline system and related assets; (ii) River Rouge refined products pipeline system and related assets; and (iii) Diamondback diluent pipeline system and related assets. These new agreements have a term of three years beginning January 1, 2021 and expiring December 31, 2023. The Partnership has existing agreements on the same pipelines with BP Products that expire on December 31, 2020.