HOUSTON—Liquids terminaling and logistics provider Moda Midstream, LLC April 28 announced it has placed into service the final 495,000-barrel tank from its 10 MMbbl crude oil expansions at the Moda Ingleside Energy Center (MIEC) in Ingleside, Texas and the Moda Taft Terminal in Taft, Texas. The completion of this storage expansion brings total storage capacity at MIEC and the Moda Taft Terminal to approximately 12 MMbbl.
“At a time when there is a pressing need for additional crude oil storage, the early delivery of the tanks is another example of Moda’s ability to consistently provide solutions to our customers,” said Moda President and CEO Bo McCall. “Bringing 10 million barrels of storage online in just over a year and a half is a major accomplishment.”
Construction has begun at MIEC on a new expansion phase of an additional 3.5 MMbbl of crude oil storage. Moda expects to begin placing storage tanks from this expansion into service later this year. MIEC will have total storage capacity in excess of 15.5 MMbbl upon completion of construction.
Moda also has obtained permits to construct additional crude oil storage capacity at both MIEC and the Moda Taft Terminal and is discussing further expansions with customers.
As the leading crude export facility in the United States, MIEC has direct connectivity to approximately 2.5 MMbbl/d of Permian and Eagle Ford crude supply from four long-haul pipelines. Two of these pipelines, the Gray Oak Pipeline and the EPIC Crude Oil Pipeline, recently commenced full service. In addition, MIEC will be able to receive deliveries from Harvest Midstream Co.’s Ingleside Pipeline, which is currently under construction and is expected to be placed into service later this year.
“I want to thank each and every member of the Moda team for their hard work and dedication in completing this expansion during the novel coronavirus pandemic as their efforts are critically important to our industry, our region and our country,” McCall said. “A special thanks also goes to our construction partners for the impressive job they did in completing the expansion safely and in accordance with our high standards.”
Recommended Reading
Beyond Energy: EnergyNet Expands Marketplace For Land, Real Assets
2024-09-03 - A pioneer in facilitating online oil and gas A&D transactions, EnergyNet is expanding its reach into surface land, renewables and other asset classes.
EnSight IV Energy Seller of Haynesville Assets to Quantent
2024-09-23 - EnSight said it had sold more than 7,000 net acres in Caddo, De Soto, Bossier and Red River parishes, Louisiana, to Quantent Energy Partners LLC for an undisclosed sum.
Glenfarne: Latest Customer Means Texas LNG is Ready for FID
2024-09-12 - Construction on Glenfarne’s Texas LNG is scheduled to begin this year, though the project is one of two LNG sites that had permits pulled after a court ruling in August.
Diamondback Subsidiary Viper Closes $900MM Midland Royalty Deal
2024-10-02 - Diamondback Energy’s Viper Energy closed the last of three acquisitions from Tumbleweed Royalty, owned by Double Eagle Energy’s founders, that together totaled about $1.1 billion.
SM Energy, NOG Close $2.6 Billion in Uinta Basin Acquisitions
2024-10-02 - SM Energy and Northern Oil and Gas have closed the acquisitions of XCL Resources and Altamont Energy, adding hundreds of locations and oil cuts of 86% to 87%.