Empire Pipeline LLC acquired a crude oil terminal in Gibson, La., expanding the New Orleans-based company’s midstream business into crude oil terminating and blending operations.
Though specific terms of the transaction were not disclosed, Empire Pipeline said in a statement on June 25 it acquired the asset from affiliates of Royal Dutch Shell Plc—Equilon Enterprises LLC (d/b/a Shell Oil Products US) and Shell Oil Co.
Commenting on the transaction, Everard W. Marks III, founder of Empire Pipeline, said: “Our acquisition of the Gibson Terminal marks an initial expansion into crude oil terminalling and is another important step in our long-term plans to selectively grow our portfolio of midstream businesses. The terminal’s location and operational capabilities are extremely attractive, and we look forward to providing additional market optionality for crude oil transport and blending capacity through our planned installation of a bi-directional pipeline connection to the Zydeco pipeline.”
The Gibson terminal is primarily comprised of 300,000 barrels of crude oil tankage for storage or blending services, three docks for barge unloading and loading, and a truck receiving station. The terminal handles sweet and sour barrels via the Ship Shoal Pipeline System, the Atchafalaya Pipeline and the Magellan Pipeline.
Located in Louisiana’s Terrebonne Parish, the Gibson terminal is situated on approximately 30 acres and connected to the Intracoastal Waterway. Offtake from the terminal is substantially directed by pipeline to the St. James terminal located between New Orleans and Baton Rouge.
“Being a local business, we look forward to economic development and job creation for our local communities through our further development of the terminal’s capabilities and its resulting position as a critical crude oil hub,” Marks continued. “Leveraging the extensive experience of our current and recently expanded management team, we look forward to adding more terminalling facilities and other critical oil and gas infrastructure assets to our midstream portfolio in the future.”
Through its affiliated companies, Empire Pipeline owns crude oil pipelines in the Gulf of Mexico and an operational and financial interest in TROO Clean Environmental LLC, which provides filtration and recycling services for oil and gas flowback and produced water in the northeastern U.S.
Victory Elements has commercially released its water dissolvable ceramic tooling for hydraulic fracturing and maintenance of oil and gas wells, the company said on Jan. 5.
In this case study, Salem Thyne, CEO of ESal, discusses a revolutionary method developed by the Fort Worth, Texas-based firm that helped an E&P company dramatically increase its oil reserves while still reducing operating costs.
An all-composite plug reduces the volume of composite material in the plug construction by 35%.