Inergy Midstream to acquire COLT oil hub in Bakken formation

Inergy Midstream LP, Kansas City, agreed to a $425 million purchase of Sugar Land, Tex.-based Rangeland Energy LLC, which owns and operates the COLT open-access crude oil rail terminal, storage, and pipeline complex to handle unconventional Bakken oil production near Epping, ND, in Williams County.

The hub uses a combination of gathering pipelines and trucks to aggregate crude oil into its 720,000 bbl storage. The hub offers two 8,700-ft rail loops with which it accommodates 120-car unit trains. The hub is capable of moving more than 120,000 b/d by railroad (OGJ Online, June 11, 2012).

A 21-mile, 10-in. pipeline connects the COLT hub to the Enbridge and Tesoro pipelines at Dry Fork terminal near Tioga, ND.