NGL Energy Partners (NGL) Acquires Point Comfort Terminal Assets
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NGL Energy Partners LP (NYSE: NGL) announced that it has acquired a crude oil and condensate marine terminal project and related assets (“Terminal”) from Pelorus Terminal: Point Comfort, LLC (“Pelorus”). The Terminal is located at the Port of Point Comfort in Point Comfort, TX and will include 350,000 shell barrels of storage capacity, multiple truck unloading bays and capabilities of loading both inland and ocean going vessels from three docks at the port. NGL’s Point Comfort facility will have an initial truck receipt capacity of at least 30,000 barrels per day and a marine loading capacity of up to 20,000 barrels per hour. NGL expects the terminal to be ready for commercial service in April of 2017. The Terminal can be expanded to meet future market demand.
“We are pleased to add the Point Comfort Terminal to our strategic footprint and expand our supply chain presence in the Gulf Coast. The Terminal is backed by long-term, fee-based contracts and will enhance our ability to service additional markets for the export of crude oil and condensate via the Gulf of Mexico,” said Don Robinson, Executive Vice President of NGL.
Inquiries about the terminal capabilities and throughput service options available should be directed to Alan Raymond at (713) 496-3977.
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Related EntitiesCrude Oil, Definitive Agreement
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