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NGL Acquires Crude Oil Terminal & Barge Business in South Texas

Source: www.gulfoilandgas.com 7/1/2013, Location: North America

NGL Energy Partners LP announced the acquisition of the assets of Crescent Terminals, LLC, a Delaware limited liability company, and the partnership interests of Cierra Marine, LP, a Delaware limited partnership, and its affiliated companies. The Cierra Marine, LP acquisition expands NGL’s crude oil logistics business by adding 4 additional tow boats and 7 crude oil barges, doubling NGL’s current fleet of marine equipment. The terminal facility will add 130,000 barrels of storage capacity in the rapidly developing Eagle Ford shale in South Texas, and the ability to throughput up to 20,000 barrels per day to markets along the Gulf Coast.

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Related Categories: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 

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