USD Partners to buy crude-oil rail terminal in Wyoming……………10/13/2015

USD Partners to buy crude-oil rail terminal in Wyoming

10/13/2015
By OGJ editors

USD Partners LP, Houston, reported plans to acquire 100% of the equity interests in a railroad terminal named Casper Crude to Rail LLC in Casper, Wyo., from Stonepeak Infrastructure Partners, Cogent Energy Solutions, and the Granite Peak Group for $225 million, subject to closing adjustments.

Assets include a terminal with 100,000 b/d of loading capacity and dual loop tracks as well as six storage tanks with 900,000 bbl capacity.

The transaction also includes a 6-mile, 24-in. pipeline with a direct connection from Spectra Energy Partners LP’s Express crude-oil pipeline, which runs from Hardisty, Alta., to Casper and provides access to multiple grades of Canadian crude oil.

The terminal’s modular design allows for the addition of a second loading station and an additional 1.1 million bbl of storage capacity.

“The terminal’s high-quality customer base and strategic location ensures competitive, sustainable market access as well as provide an additional platform for heavy crude oil,” said USD Partners Chief Executive Officer Dan Borgen.

Online Article Here