KNOT Offshore Partners: Gains as operations remain unaffected by oil price crash

KNOT Offshore Partners LP

08/04/2020 14:27

** Tanker operator's shares  KNOP.N  up ~20% at $11.5
premarket
    ** KNOP said after Tuesday market hours that operations have
not taken any material hit from oil price crash or coronavirus
pandemic since it filed its annual report
    ** Says vessels operated throughout Q1 2020 with 99.6%
utilization for scheduled operations  urn:newsml:reuters.com:*:nBw9Fq2nxa
    ** Vessels operate in areas where the oil being produced
typically has a lower marginal cost - KNOP
    ** Company also declares a qtrly cash distribution of $0.52
per common share, with respect to quarter ended March 31
    ** Says it is well-positioned to navigate the uncertainty of
the current environment partially because vessels remain an
essential part of its customers' supply chain
    ** Stock down ~51% YTD as of last close 

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com; +1 646 223 8780 Ext:
2776; Reuters Messaging:
arundhati.sarkar.thomsonreuters.com@reuters.net))