Houston-based USD Partners has agreed to acquire a crude oil terminal in Casper, Wyoming, from three other firms for $225 million. The Casper Crude to Rail facility is unit-train-capable with 100,000 barrels per day of capacity and dual loop tracks and has six storage tanks with 900,000 barrels of total capacity. The terminal also has a six-mile pipeline that connects to a Spectra Energy Partners pipeline that stretches from Hardisty, Alberta, to Casper.
USD said the terminal’s footprint and design allow for the addition of a second loading station and an additional 1.1 million barrels of storage capacity.
The terminal will be USD’s first acquisition since it went public in October 2014. The deal is expected to close in the fourth quarter of 2015.
USD is a master limited partnership formed by US Development Group to acquire, develop and operate energy-related rail terminals and other midstream infrastructure assets and businesses.
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