CVR Partners Announces Coffeyville Turnaround Deferral
25 Agosto 2021 - 5:15PM
CVR Partners, LP (“CVR Partners” or the “Partnership”) (NYSE: UAN)
today announced that it currently intends to defer the scheduled
turnaround at its Coffeyville, Kansas, nitrogen fertilizer facility
from October 2021 to the third quarter of 2022. CVR Partners now
expects its total forecasted turnaround spending for 2021 of
approximately $8 million to $10 million of expense for the
Coffeyville facility to be spent in 2022, which will be in addition
to the planned 2022 turnaround for the Partnership’s East Dubuque
nitrogen fertilizer facility.
“The health and safety of our employees,
contractors and communities remains our critical priority,” said
Mark Pytosh, President and Chief Executive Officer of CVR Partners’
general partner. “Between the recent spike in COVID-19 cases and
the addition of Louisiana to Kansas’ travel quarantine list, we
thought it prudent to reconsider the timing of this turnaround.
“Our proactive performance of maintenance
activities during recent downtime events together with a planned
short, opportunistic outage later in the year should enable us to
safely defer this turnaround and complete the installation of the
urea expansion project,” Pytosh said. “This turnaround deferral
should also position us to capitalize on the strong margin
environment we are currently seeing for both ammonia and UAN.”
CVR Partners will continue to monitor its
marketing and operating conditions and make adjustments, if needed,
to its turnaround and maintenance planning.
Forward-Looking Statements This
news release contains forward-looking statements. Statements
concerning current estimates, expectations and projections about
future results, performance, prospects, opportunities, plans,
actions and events and other statements, concerns, or matters that
are not historical facts are “forward-looking statements,” as that
term is defined under the federal securities laws. These
forward-looking statements include, but are not limited to,
statements regarding future: turnarounds and maintenance activities
including the cost, timing, impact and risks thereof; margin
environment and our ability to capitalize on same; continued safe,
reliable operations; and other matters. You can generally identify
forward-looking statements by our use of forward-looking
terminology such as “outlook,” “anticipate,” “believe,” “continue,”
“could,” “estimate,” “expect,” “explore,” “evaluate,” “intend,”
“may,” “might,” “plan,” “potential,” “predict,” “seek,” “should,”
or “will,” or the negative thereof or other variations thereon or
comparable terminology. These forward-looking statements are only
predictions and involve known and unknown risks and uncertainties,
many of which are beyond our control. Investors are cautioned that
various factors may affect these forward-looking statements,
including (among others) the health and economic effects of the
COVID-19 pandemic and any variant thereof, the rate of any economic
improvements, impacts of planting season on our business, general
economic and business conditions, and other risks. For additional
discussion of risk factors which may affect our results, please see
the risk factors and other disclosures included in our most recent
Annual Report on Form 10-K, any subsequently filed Quarterly
Reports on Form 10-Q and our other Securities and Exchange
Commission (“SEC”) filings. These and other risks may cause our
actual results, performance or achievements to differ materially
from any future results, performance or achievements expressed or
implied by these forward-looking statements. Given these risks and
uncertainties, you are cautioned not to place undue reliance on
such forward-looking statements. The forward-looking statements
included in this news release are made only as of the date hereof.
CVR Partners disclaims any intention or obligation to update
publicly or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except to
the extent required by law.
About CVR Partners, LP
Headquartered in Sugar Land, Texas, CVR Partners,
LP is a Delaware limited partnership focused on the
production, marketing and distribution of nitrogen fertilizer
products. It primarily produces urea ammonium nitrate (UAN) and
ammonia, which are predominantly used by farmers to improve the
yield and quality of their crops. CVR Partners’ Coffeyville,
Kansas, nitrogen fertilizer manufacturing facility includes a 1,300
ton-per-day ammonia unit, a 3,000 ton-per-day UAN unit and a
dual-train gasifier complex having a capacity of 89 million
standard cubic feet per day of hydrogen. CVR Partners’ East
Dubuque, Illinois, nitrogen fertilizer manufacturing facility
includes a 1,075 ton-per-day ammonia unit and a 1,100 ton-per-day
UAN unit.
For further information, please contact:
Investor Relations:Richard
RobertsCVR Partners,
LP281-207-3205InvestorRelations@CVRPartners.com
Media Relations:Brandee
StephensCVR Partners,
LP281-207-3516MediaRelations@CVRPartners.com
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