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NuStar GP Holdings, LLC Reports Increase In Second Quarter 2013 Distributable Cash Flows

NuStar GP Holdings, LLC (NYSE: NSH) today announced that distributable cash flow available to unitholders for the second quarter of 2013 was $23.2 million, or $0.54 per unit, compared to $22.1 million, or $0.52 per unit, for the second quarter of 2012. In addition, the company announced that its board of directors has declared a second quarter distribution of $0.545 per unit. The second quarter 2013 distribution will be paid on August 14, 2013, to holders of record as of August 5, 2013.

The company reported second quarter net income of $12.6 million, or $0.29 per unit, compared to a net loss of $33.2 million, or $0.78 per unit, in the second quarter of 2012. Negative earnings in NuStar Energy’s asphalt and fuels marketing segment caused the second quarter 2012 net loss. Asset impairment charges associated with the company’s asphalt operations, in anticipation of the September 2012 sale of 50% of these operations to an affiliate of Lindsay Goldberg LLC were the primary cause of the second quarter 2012 loss.

“NuStar Energy L.P.’s large internal growth program for 2013, primarily in the Eagle Ford Shale region, should have a positive impact on the future growth of NuStar GP Holdings, LLC’s distributable cash flow and distributions,” said Curt Anastasio, President and Chief Executive Officer of NuStar Energy L.P. and NuStar GP Holdings, LLC.

A conference call with management is scheduled for 10:00 a.m. ET (9:00 a.m. CT) today, July 26, 2013, to discuss the financial results for the second quarter of 2013. Investors interested in listening to the presentation may call 800/622-7620, passcode 14958501. International callers may access the presentation by dialing 706/645-0327, passcode 14958501. The company intends to have a playback available following the presentation, which may be accessed by calling 800/585-8367, passcode 14958501. International callers may access the playback by calling 404/537-3406, passcode 14958501. A live broadcast of the conference call will also be available on the company’s Web site at

NuStar GP Holdings, LLC is a publicly traded limited liability company that owns the two percent general partner interest, a 13.0 percent limited partner interest and the incentive distribution rights in NuStar Energy L.P., one of the largest independent liquids terminal and pipeline operators in the nation. NuStar has operations in the United States, Canada, Mexico, the Netherlands, including St. Eustatius in the Caribbean, the United Kingdom and Turkey. For more information, visit NuStar GP Holdings, LLC’s Web site at

This release serves as qualified notice to nominees under Treasury Regulation Sections 1.1446-4(b)(4) and (d). Please note that 100% of NuStar’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of NuStar’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals and corporations, as applicable. Nominees, and not NuStar, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors.

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