Cenovus Energy Inc. closed its purchase of Canexus Corp.’s North American Terminal Operations (NATO) crude-by-rail transloading facility, the company said Aug. 31. The terminal will be renamed the Bruderheim Energy Terminal.
The terminal in Bruderheim, Alberta, has connections to the Cold Lake and Access crude oil pipeline systems, and links to the Canadian Pacific and Canadian National rail lines. Cenovus, which began moving its oil through the facility in 2014, currently transports crude from its Foster Creek steam-assisted gravity drainage operation to Bruderheim on the Cold Lake Pipeline.
Cenovus said there is potential to expand the acquired facility relatively low cost. Undeveloped land was included in the transaction. The company is evaluating several possible value-added projects.
Rail transportation provider and terminal operator Savage was contracted to work with its onsite management team on the terminal’s day to day operations, the company added.
Cenovus is based in Calgary, Alberta.
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