Genesis Energy has signed an agreement with Silver Creek Midstream to sell its Powder River Basin midstream assets for $300 million.
The assets include Genesis' Powder River Basin pipeline along with the associated crude oil gathering system and rail facility.
Proceeds from the sale will be used by Genesis to reduce the balance outstanding under its revolving credit facility.
Houston-based Genesis Energy's operations include offshore pipeline transportation, onshore facilities & pipeline transportation and marine transportation.
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