Pin Oak has acquired 236 acres near its terminal in Corpus Christi, Texas to further expand its storage operations.
The acquired land is located adjacent to the Kansas City Southern main rail line and Corpus Christi rail yard. The land can accommodate more than 10 million barrels of bulk liquids storage, as well as the construction and operation of a full unit train solution.
Pin Oak plans to connect the site through a shore distance pipeline to its main site on the Corpus Christ Ship Channel, offering its customers additional tank capacity, as well as rail loading and unloading capabilities through an operational Union Pacific connection and the KCS.
Mike Reed, CEO of Pin Oak Holdings, says: 'We are excited to be expanding our footprint through this acquisition which will bring incremental tankage and logistics solutions to our customers. Pin Oak is in a unique position to offer its customers a full logistics solution through its direct refinery connections, Suezmax vessel and barge dock capabilities, truck loading and unloading bays, and direct access to two Class 1 railroads.
The company's main terminal is currently under construction, with brownfield expansion of more than two million barrels of crude storage. All capacity is supported by long-term third-party customer contracts. The connection into the Gray Oak Pipeline is currently under construction and the terminal will be a necessary outlay for Permian and Eagle Ford crude.
Pin Oak also operates multiple pipeline connections to nearby refineries, nearly one million barrels of existing storage capacity as well as a polymer modified asphalt plant, rail loading and unloading facilities, and a truck rack.
A global storage hub networkOil price 'collapse' brings 2018 to a close A different energy system The economics of IMO 2020 Are energy companies prepared for a demand driven petrochemical market IFLEXX: standardised data communication in the downstream oil and gas sector Growing to meet Ghana's midstream needs Bridging Africa's infrastructure gap The storage outlook Safety at the touch of a button