Adams Resources & Energy, a US crude oil marketing and storage company, has completed its acquisition of the Victoria Express (VEX) pipeline and related pipeline terminal facilities in Texas, US, from EnLink Midstream Operating.
The 90 km, 12” VEX pipeline has a capacity of 90,000 bpd and connects the Eagle Ford Basin to the Gulf Coast. The system includes two eight-bay truck offload stations, access to two docks at the Port of Victoria and 350,000 bbl of storage at Cuero and the Port of Victoria. The pipeline can receive crude oil by pipeline as well as by truck, and the potential for further downstream connection opportunities beyond the two existing terminals.
Adams Resources and Energy bought the VEX system though its subsidiaries GulfMark Energy and GulfMark Terminals.
‘Over the last several years, the VEX Pipeline System has been integral to GulfMark’s crude oil supply and marketing business in the Eagle Ford and Gulf Coast region. As one of the system’s largest shippers, we look forward to fully integrating the VEX Pipeline System into our Gulf Coast marketing business, which will further strengthen our ability to provide excellent service to the producers in the region, as well as more effectively service our end-user markets along the Gulf Coast. As important, the VEX Pipeline System complements our existing storage terminal and dock at the Port of Victoria, where GulfMark will now control 450,000 barrels of storage with three docks,’ says Greg Mills, president of GulfMark.