US company Harvest Midstream has completed its transaction to buy the remaining interest of Arrowhead Gulf Coast Holdings (AGCH) from BlackRock Real Assets.
Arrowhead has a critical network of almost 300 miles (483 km) of crude and condensate pipelines and several terminals serving the Louisiana refinery market and regional production. The assets include the BOA/CAM pipelines serving the Valero Meraux and PBF Chalmette refineries, Golden Cocodrie, Atchafalaya, Eugene Island, Erath Tank Farm, Burns dock, Burns terminal, and Sabine. Prior to the completion of the deal, BlackRock Real Assets held a 37.5% stake and Harvest owned the remaining 62.5%.
‘Harvest has a long history of operating in southern Louisiana,’ says Harvest CEO Jason Rebrook. ‘The closing on AGCH is a continuation of our longstanding commitment to the region. It also shows the tremendous potential we see along the Louisiana Gulf Coast. We are committed to providing best-in-class service to our customers as the region continues to grow.’
Earlier in 2022, Harvest announced a deal to buy the remaining interest in Arrowhead ST Holdings (ASTH), a midstream business in the Eagle Ford Basin in Texas, US, from its joint venture partner.
