NuStar Energy L.P. Announces Pricing of Public Offering of Common Units

2009-11-10 15:24:21 -

NuStar Energy L.P. (NYSE:NS) announced today it has priced a public offering of 5,000,000 common units representing limited partner interests at $52.45 per common unit. Net proceeds from the offering, including the general partner’s proportionate capital contribution, are expected to be used by NuStar Energy L.P. for general partnership purposes, including potential future acquisitions and growth capital expenditures. Pending the

use of the proceeds for other purposes, the partnership intends to apply some or all of the net proceeds to reduce outstanding borrowings under its revolving credit facility. The offering is scheduled to close November 13, 2009. NuStar Energy L.P. also granted to the underwriters a 30-day option to purchase up to an additional 750,000 common units.

Morgan Stanley & Co. Incorporated, UBS Securities LLC, Credit Suisse Securities (USA) LLC and Wells Fargo Securities, LLC are acting as joint book-running managers of the offering. Barclays Capital Inc., Citigroup Global Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities Inc., Deutsche Bank Securities Inc., Oppenheimer & Co. Incorporated, Raymond James & Associates, Inc. and Tudor, Pickering, Holt & Co. Securities, Inc. are acting as co-managing underwriters of the offering.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement.

A copy of the prospectus supplement and the prospectus relating to this offering may be obtained from any of the underwriters, including Morgan Stanley & Co. Incorporated, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, email: prospectus@morganstanley.com : mailto:prospectus@morganstanley.com , telephone: 866-718-1649; UBS Securities LLC, Attn: Prospectus Dept., 299 Park Avenue, New York, NY 10171, telephone: 888-827-7275; Credit Suisse Securities (USA) LLC, Attn: Prospectus Dept., One Madison Avenue, 1B, New York, NY 10010, telephone: 800-221-1037; or Wells Fargo Securities, LLC, Attn: Equity Syndicate Dept., 375 Park Avenue, New York, NY 10152, email: equity.syndicate@wachovia.com : mailto:equity.syndicate@wachovia.com , telephone: 800-326-5897.

You may also obtain these documents for free when they are available by visiting the Securities and Exchange Commission’s website at www.sec.gov : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. .

NuStar Energy L.P. is a publicly traded, limited partnership based in San Antonio, with 8,417 miles of crude oil and refined product pipelines; 82 terminal facilities that store and distribute crude oil, refined products and specialty liquids; four crude oil storage tank facilities; and two asphalt refineries with a combined throughput capacity of 104,000 barrels per day. The partnership’s combined system has over 91 million barrels of storage capacity. One of the largest asphalt refiners and marketers in the U.S. and the second largest independent liquids terminal operator in the nation, NuStar has operations in the United States, the Netherlands Antilles, Canada, Mexico, the Netherlands and the United Kingdom.

This press release includes forward-looking statements regarding future events. All forward-looking statements are based on the partnership’s beliefs as well as assumptions made by and information currently available to the partnership. These statements reflect the partnership’s current views with respect to future events and are subject to various risks, uncertainties and assumptions. These risks, uncertainties and assumptions are discussed in NuStar Energy L.P.’s 2008 annual report on Form 10-K and subsequent filings with the Securities and Exchange Commission. NuStar Energy L.P. undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.


NuStar Energy, L.P., San AntonioInvestors, Mark Meador, Vice

President,Investor Relations: 210-918-2895orMedia,
Mary Rose Brown, Senior Vice President,Corporate Communications:

210-918-2314Web site: www.nustarenergy.com : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww ..