Houston-based midstream company Easton Energy has signed a deal with the Texas Brine Company for expanded storage rights for natural gas liquids and olefins at the latter company’s salt caverns in Markham, Texas, US.
Easton Energy, which already had exclusive storage rights for natural gas liquids and olefins at the site, will also now have the rights for crude oil storage. Reuters reports that the company now has the storage rights to 13 caverns with a capacity of 50 million bbl.
The Markham site, created as a result of brine production by Texas Brine from natural salt deposits, has been in use for more than 40 years by various companies for storing natural gas liquids and olefins, and has all the necessary associated and supporting pipelines. It is located at a strategic point between the petrochemical markets in Houston and Corpus Christi, as well as being near enough to Freeport for crude oil. Texas Brine CEO Ted Grabowski said that the company was pleased to support Easton in the development of the Markham salt dome as a storage hub connecting several key markets.
‘The combination of expanding our NGL and olefin storage rights with the addition of crude oil storage, we believe, continues to make Markham a premium location for our customers to optimise their respective businesses. Further, as a function of our great working relationship with our sister company, Sentinel Midstream, we’ve been fortunate to develop a series of supporting pipeline and storage opportunities in the Gulf Coast crude oil markets around Markham, Texas, largely driven by our brine pond development and the remaining 40 million bbl of storage capacity,’ said Easton President and CEO, Joel McComas.