USD Partners to buy crude-oil rail terminal in Wyoming
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.