USD Partners LP completed its $225 million acquisition of the Casper, Wyo., crude oil terminal, the company said Nov. 17.
The Casper terminal assets include a unit train-capable rail loading terminal, 900,000 barrels of tank capacity for storage and blending operations and a pipeline connection from Spectra Energy Partners LP’s Express crude oil pipeline, currently the primary source of crude oil delivered to the terminal.
The Casper terminal is supported by take-or-pay contracts and will probably contribute about $26 million of adjusted EBITDA in 2016 based on minimum contracted payments, USD said.
USD also said that on Nov. 13, the senior secured credit agreement was amended, increasing borrowing capacity to $400 million. Goldman Sachs Bank USA was added to the bank group of lenders. The ability to request an additional $100 million of incremental revolving credit facility commitments was also reset, but all other terms and conditions of the agreement remain unchanged.
USD Partners LP is based in Houston.
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