Empire Acquires Louisiana Terminal from Equilon
Empire Pipeline LLC reported last week that it has acquired a crude oil terminal in Gibson, La., from Equilon Enterprises LLC (d/b/a Shell Oil Products US) and Shell Oil Co.
“Our acquisition of the Gibson Terminal marks an initial expansion into crude oil terminalling and is another important step in our long-term plans to selectively grow our portfolio of midstream businesses,” commented Everard W. Marks III, Empire Pipeline’s founder, in a written statement emailed to Rigzone. “The terminal’s location and operational capabilities are extremely attractive, and we look forward to providing additional market optionality for crude oil transport and blending capacity through our planned installation of a bi-directional pipeline connection to the Zydeco pipeline.”
Empire did not disclose specific terms of the transaction for the terminal, located in Terrebonne Parish near the Intracoastal Waterway.
Previously known as the Houston-to-Houma (“Ho-Ho”) pipeline, Shell’s Zydeco Pipeline carries crude from the Eagle Ford, Permian Basin and Bakken to Louisiana refiners. Empire noted the Gibson Terminal boasts 300,000 barrels of crude oil tankage for storage or blending services, along with three docks for barge unloading and loading and a truck receiving station. The firm added the facility handles sweet and sour barrels via the Ship Shoal Pipeline System, the Atchafalaya Pipeline and the Magellan Pipeline. Moreover, it stated that much of the Gibson facility’s offtake travels via pipeline to the St. James Terminal along the Mississippi River between Baton Rouge and New Orleans.
“Being a local business, we look forward to economic development and job creation for our local communities through our further development of the terminal’s capabilities and its resulting position as a critical crude oil hub,” stated Marks. “Leveraging the extensive experience of our current and recently expanded management team, we look forward to adding more terminalling facilities and other critical oil and gas infrastructure assets to our midstream portfolio in the future.”
To contact the author, email email@example.com.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.