UPDATE 1-Genesis Energy increases quarterly distribution

* Raises quarterly distribution by about 11 pct to $0.4074
per share

* Says will expand Texas crude oil pipeline, terminaling

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April 11 (Reuters) – Genesis Energy raised its
quarterly distribution and said it will expand its crude oil
pipeline and terminaling capabilities in Texas.

The company will pay a regular quarterly distribution of
$0.4075 per share for the quarter ended March 31, about 11
percent higher than the last year.

Separately, Genesis said it acquired three above-ground
storage tanks in Texas City, with an aggregate capacity of about
230,000 barrels, and has commenced work to convert them into
crude oil-capable tanks.

The Houston-based company also plans to construct a truck
station, tankage and possible pipeline interconnects at West
Columbia, Texas.

The terminal will be able to provide increased
transportation services for the Eagle Ford shale and other Texas
production facilities, the company said.

Genesis will be able to handle about 40,000 barrels per day
of crude oil through the terminal, after the expected completion
in the fourth quarter of 2012.

Shares of the company closed at $27.66 on Friday on the New
York Stock Exchange.
(Reporting by Mayuresh Tungare in Bangalore; Editing by Maju

UPDATE 1-Genesis Energy increases quarterly distribution