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.
Recommended Reading
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%.
Tailwater Buys Interests Across 5,000 Acres in Permian Core
2024-10-02 - Tailwater Capital's purchase of non-op working interests from Accelerate Resources includes future inventory held by Diamondback, EOG Resources, Devon and several other E&Ps.
Enbridge Closes $3.1B Deal for Public Service Co. of North Carolina
2024-10-01 - With the deal’s closing, Enbridge said the company is, by volume, the largest gas utility in North America, delivering 9 Bcf/d of natural gas to a base of about 7 million customers.
ADNOC Drilling, SLB and Patterson-UTI Form JV Turnwell Industries in UAE
2024-10-01 - Their joint venture Turnwell Industries LLC has been contracted to drill an initial 144 wells in the United Arab Emirates, scheduled for completion by the end of 2025.
Chesapeake, Southwestern Complete Merger to Create Largest US Natgas Co.
2024-10-01 - Chesapeake Energy Corp. has closed on its $7.4 billion takeover of Southwestern Energy Co. to create Expand Energy.