Wyoming oil terminal acquisition complete

USD Partners has completed the acquisition of the Casper, Wyoming, crude oil terminal for $225 million.
The terminal assets include a unit train capable rail loading terminal and 900,000 barrels of tank capacity for storage and blending operations. Additionally, USD Partners has also acquired a pipeline connection from Spectra Energy Partners’ Express crude oil pipeline, currently the primary source of crude oil delivered to the terminal.
The facility is supported by take-or-pay contracts with primarily investment grade refiners and is expected to contribute approximately $26 million of adjusted EBITDA in 2016.
Adam Altsuler, CFO, says: ‘We appreciate the support shown by our lender group.
‘The increased facility size reflects the partnership’s recent growth and will provide additional flexibility and liquidity as the partnership continues to execute on its plans.’