Acquired crude oil transportation and logistics business
In a strategic move, Seminole Energy Services LLC has taken on the crude oil transportation and logistics business of Houston-based Native American Marketing LLC.
The acquisition includes most of Native American's assets, including its transportation fleet and marketing services. With the move, Native American becomes part of North American Crude Logistics Services (NACLS) LLC, a fully owned subsidiary Seminole, based in Tulsa, Okla.
Native American’s wide range of services includes purchasing, transportation and marketing of crude oil. Native American's current president and chief executive, Larry LeBarre, will serve as NACLS president.
"This acquisition not only supports the targeted growth planned for Native American but also allows us to offer expanded, complete services to our crude oil customers, enhancing the value we provide,” LeBarre said. “It's truly a win-win for everyone involved."
Seminole is a major player in the U.S. midstream market, with more than 44,000 hp compression, rail terminal services, 1,000 miles of pipeline, and rail terminal services. The company serves more than 500 producers and 90,000 retail customers in 23 states.
Seminole provides comprehensive energy services for both the natural gas and crude oil industries including risk management, marketing, transportation and other energy management tools.
Seminole President and CEO Jason Few called the move an “essential element” the company’s long-term business structure.
"With this acquisition, we can provide our crude oil customers an immediate solution for getting their oil production to market quickly while simultaneously implementing longer term infrastructure solutions,” he said.
Native American was founded in 2008 with headquarters in Houston. Post-acquisition, North American operations will remain in Houston with continued focus in Oklahoma, Texas, Ohio and West Virginia.