Empire Pipeline LLC ("Empire Pipeline" or the "Company") today announced it has acquired a crude oil terminal in Gibson, Louisiana (the “Gibson Terminal” or “Terminal”) from Equilon Enterprises LLC (d/b/a Shell Oil Products US) and Shell Oil Company. Located in Terrebonne Parish, the Gibson Terminal is situated on approximately 30 acres and connected to the Intracoastal Waterway. Specific terms of the transaction were not disclosed.
The 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 Gibson Terminal handles sweet and sour barrels via the Ship Shoal Pipeline System, the Atchafalaya Pipeline, and the Magellan Pipeline. Offtake from the Terminal is substantially directed by pipeline to the St. James Terminal located between New Orleans and Baton Rouge.
Everard W. Marks III, Founder of Empire Pipeline, commented, “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.
“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. 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.”
