Toggle SGML Header (+)


Section 1: 8-K (8-K)

Document
false0001604665 0001604665 2020-08-27 2020-08-27


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): August 27, 2020

Westlake Chemical Partners LP
(Exact name of registrant as specified in its charter)

Delaware
 
001-36567
 
32-0436529
(State or other jurisdiction
of incorporation)
 
(Commission File Number)
 
(I.R.S. Employer
Identification No.)
2801 Post Oak Boulevard,
Suite 600
 
77056
Houston,
Texas
 
 
(Address of principal executive offices)
 
 
(Zip Code)
Registrant's telephone number, including area code: (713585-2900

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common units representing limited partnership interests
WLKP
The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company
 





If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

 







Item 8.01. Other Events.
On August 27, 2020, Westlake Chemical Partners LP issued a press release regarding Hurricane Laura, which made land fall near plants owned by Westlake Chemical OpCo LP in the Lake Charles, Louisiana area. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits

Exhibit No.
 
Description
 
 
99.1
 
104
 
The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.








SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
 
 
 
WESTLAKE CHEMICAL PARTNERS LP
 
 
 
 
By: Westlake Chemical Partners GP LLC
Date:
August 27, 2020
 
By:
/S/ ALBERT CHAO
 
 
 
 
Albert Chao
President and Chief Executive Officer







(Back To Top)

Section 2: EX-99.1 (EXHIBIT 99.1)

Exhibit


Exhibit 99.1
Westlake Chemical Partners Issues Statement on Lake Charles Operations
HOUSTON - August 27, 2020 - Westlake Chemical Partners LP (NYSE: WLKP) today issued a statement regarding Hurricane Laura, which made landfall near plants in the Lake Charles, Louisiana area owned by Westlake Chemical OpCo LP (“OpCo”), in which the Partnership owns a 22.8% interest.
The Partnership’s primary concern is for the safety of OpCo's employees. The employees who stayed at OpCo’s facilities during Hurricane Laura are safe. OpCo has been conducting equipment assessments, following Hurricane Laura’s overnight move through the area.
Following initial facility assessments, OpCo believes it has incurred limited physical damage. Restart of OpCo’s facilities, which OpCo shut down as a precautionary measure in advance of the storm, will primarily depend upon the availability of electricity, industrial gases, and other feedstocks.
“We do not expect any material impact to OpCo or to the Partnership as a result of Hurricane Laura as, pursuant to OpCo’s Ethylene Sales Agreement with affiliates of Westlake Chemical Corporation (“Westlake Sponsor”), Westlake Sponsor is obligated to pay a margin and fixed costs for 95% of OpCo’s budgeted ethylene production, even following a force majeure event,” said Albert Chao, president and chief executive officer of the Partnership’s general partner.
The statements in this release relating to matters that are not historical facts, such as the Partnership’s belief that OpCo’s facilities incurred limited physical damage and the anticipated restart of OpCo’s facilities, are forward-looking statements. These forward-looking statements could be adversely affected by a variety of known and unknown risks, uncertainties and other factors that are difficult to predict and many of which are beyond management’s control. The Partnership’s expectations may or may not be realized or may be based upon assumptions or judgments that prove to be incorrect. For more detailed information about the factors that could cause actual results to differ materially from the forward-looking statements contained herein, please refer to the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2019, which was filed with the SEC in February 2020 and Form 10-Q for the quarter ended March 31, 2020, which was filed with the SEC in May 2020.

About Westlake Chemical Partners LP
Westlake Chemical Partners is a limited partnership formed by Westlake Chemical Corporation to operate, acquire and develop ethylene production facilities and other qualified assets. Headquartered in Houston, the Partnership owns a 22.8% interest in Westlake Chemical OpCo LP. Westlake Chemical OpCo LP’s assets include three facilities in Calvert City, Kentucky, and Lake Charles, Louisiana which process ethane and propane into ethylene, and an ethylene pipeline. For more information about Westlake Chemical Partners LP, please visit http://www.wlkpartners.com.



(Back To Top)