USD Partners LP has completed the sale of its Hardisty Rail Terminal, an origination terminal in Canada and the company’s last remaining operating asset. (Source: Shutterstock)
Houston-based USD Partners LP has completed the sale of its Hardisty Rail Terminal, the company’s last remaining operating asset, according to an April 10 press release.
USD was obligated to sell the Hardisty Terminal, in Alberta, Canada, after entering a forbearance agreement with its lenders on June 21, 2024.
The forbearance agreement resulted from USD’s failure to meet certain milestones under its revolving credit facility.
“The sale of the Hardisty Rail Terminal was the result of an extensive and broadly marketed process conducted by an independent investment bank approved by the lenders under the revolving credit facility,” USD said in its release.
In operation since 2014, the Hardisty receives crude oil from the Western Canada Sedimentary Basin through Enbridge’s Mainline system and the Athabasca crude gathering system, as well as blends of crude oil from Cenovus.
A sale price or buyer for the system was not disclosed.
Recommended Reading
Vertice Oil Tools Acquires Greenwell Engineering
2025-04-15 - Vertice is expanding its presence across unconventional oil & gas markets with its purchase of Greenwell Engineering Inc.
US Energy Development Acquires 20,000 Acres in Permian
2025-04-15 - U.S. Energy Development Corp.’s deal to buy 20,000 net acres in the Permian is the largest acquisition in the company’s 45-year history.
NextDecade, TotalEnergies Enter 20-Year Supply Deal for Rio Grande LNG
2025-04-14 - TotalEnergies Gas & Power North America will purchase 1.5 million tons per annum of LNG from Rio Grande’s Train 4, which has yet to reach FID.
ArcLight Acquires NatGas Asset Kleen Energy Systems
2025-04-14 - ArcLight Capital Partners is acquiring Kleen Energy Systems LLC, a natural gas-fired power generation asset in New England, from Osaka Gas USA Corp. and Kyuden International Americas Inc.
ADNOC Explores $9B Acquisition of Aethon’s Haynesville Assets—Report
2025-04-11 - Abu Dhabi National Oil Co. (ADNOC) is evaluating an acquisition of natural gas assets from Aethon Energy Management valued at around $9 billion, Bloomberg reported April 11.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.