Harvest Midstream purchased the remaining interest in Arrowhead Gulf Coast Holdings LLC, making Harvest the sole owner of the company, a press release announced on July 20.
Arrowhead's operations include 300 miles of pipelines and terminal assets in southern Louisiana used for the transport of crude oil and condensate, including the BOA/CAM pipelines that supply crude to the Valero Meraux and PBF Chalmette refineries.
The company's other pipeline and terminal assets include Golden Cocodrie, Atchafalaya, Eugene Island, Erath Tank Farm, Burns dock, Burns terminal and Sabine.
Prior to Harvest signing, funding and closing on the transaction, it held a 62.5% stake in the company, with BlackRock Real Assets owned the remaining 37.5% stake.
“Harvest has a long history of operating in southern Louisiana,” Harvest CEO Jason Rebrook said in the release. “The closing on [Arrowhead] is a continuation of our longstanding commitment to the region."
"It also shows the tremendous potential we see along the Louisiana Gulf Coast," he continued. "We are committed to providing best-in-class service to our customers as the region continues to grow.”
Houston-based Harvest is a midstream service provider with an interest in over 6,000 miles of pipeline across Alaska, Colorado, Louisiana, New Mexico, Ohio, Pennsylvania and Texas.
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