CALGARY, Alberta—Canadian midstream company Gibson Energy is loading 60 unit trains per month at the Hardisty, Alberta, crude-by-rail terminal and that will go up to 90 trains per month by the end of the summer, CEO Steve Spaulding said on May 24.
Each unit train can carry around 75,000 barrels. The Hardisty terminal is owned by USD Partners LP and used exclusively by Gibson.
Since September, when it exited bankruptcy court, Halcón has staked out a 41,600 net acre position in the Delaware through acquisitions that have cost as little as $11,000 an acre.
The equity deal will see the two related MLPs save money by streamlining costs and completing projects with improved economics.
With 120,000 net acres and an estimated 4,200 locations, the new company also meshes with Kingfisher Midstream to offer a potential spinoff IPO for development cash.