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Terminal News

Andeavor acquires Permian Basin storage assets

Andeavor acquires Permian Basin storage assets
Andeavor plans to acquire Rangeland Energy II, including pipeline and storage assets in the Delaware and Midland Basins.

The assets include a recently-constructed crude oil pipeline, three crude oil storage terminals and a frac sand storage and truck loading facility.

The company plans to integrate the acquired 110-mile crude oil pipeline and crude oil storage terminals with its nearby Conan crude oil gathering system, which is currently being built.

Once fully integrated, the combination of the two systems will provide producers with access to multiple markets by connecting to existing takeaway pipeline systems.

This will also support Andeavor's development of additional gathering systems in the area, as well as enhancing commercial opportunities by providing direct access to the Midland market hub.



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