USD Group LLC and Pinto Realty Partners LP said Oct. 8 they formed a joint venture to develop a premier U.S. Gulf Coast destination terminal on the Houston Ship Channel.
USD Group will co-lead commercialization efforts for the 988-acre property. It includes TDWP Terminals, which are capable of supporting a multiple unit-train per day rail terminal for liquid hydrocarbons, in addition to storage, blending and export operations.
The advantaged location offers direct inbound pipeline access and service from two Class 1 railroads. This includes potential for outbound pipeline and barge connectivity to major Gulf Coast refining centers and deepwater dock connectivity to international markets, the release said.
“We believe this site is uniquely positioned to provide our customers with flexible market access to key demand centers—both domestic and abroad—and we look forward to working closely with Pinto to execute on this tremendous opportunity,” said Dan Borgen, USD Group CEO, in a statement.
The site currently supports rail storage operations and is served by the Burlington Northern Sante Fe and Union Pacific railroads. Included in the property are numerous pipeline rights-of-way and a substantial dredge material storage facility, which is capable of supporting future development needs and may also provide an economical disposal option for others along the ship channel.
U.S. Energy Corp. Declares Quarterly Cash Dividend
2023-05-09 - The dividend of $0.0225 per share will be payable on May 30.
DT Midstream Announces Quarterly Dividend
2023-05-08 - DT Midstream’s board of directors declared a $0.69 per share quarterly dividend on its common stock.
EQT Declares Quarterly Cash Dividend
2023-04-20 - EQT Corp.'s board of directors declared a quarterly cash dividend of $0.15 per share, to be paid out on June 1.
Baytex Raises Capital for $2.5 Billion Ranger Oil Deal
2023-04-27 - Canada’s Baytex Energy Corp. moved a step closer toward finalizing its purchase of Ranger Oil Corp. with the closing of its private offering of $800 million aggregate principal amount of senior unsecured notes.
Matador Declares $0.15 Per Share Quarterly Cash Dividend
2023-04-20 - Matador Resources’ quarterly cash dividend of $0.15 per share will be payable on June 1 to shareholders on record as of May 11.