EnLink buys Permian basin crude gathering operation

A subsidiary of EnLink Midstream Partners LP has agreed to by LPC Crude Oil Marketing LLC, which has crude oil gathering, transportation, and marketing operations in the Permian basin. LPC purchases, transports, and sells about 60,000 b/d. The acquisition adds crude oil first purchasing and logistics to EnLink’s existing Permian natural gas gathering and processing services.

A subsidiary of EnLink Midstream Partners LP has agreed to by LPC Crude Oil Marketing LLC, which has crude oil gathering, transportation, and marketing operations in the Permian basin. LPC purchases, transports, and sells about 60,000 b/d. The acquisition adds crude oil first purchasing and logistics to EnLink’s existing Permian natural gas gathering and processing services.

LPC’s assets include 13 pipeline and refinery injection stations, a fleet of about 43 tractor trailers, six crude oil gathering systems totaling 67 miles of pipeline, and a crude oil first purchasing operation.

EnLink spent roughly $100 million on the purchase.

The company last year purchased 1,400 miles of Gulf Coast natural gas pipeline and 11 bcf of working natural gas storage in Southern Louisiana from Chevron Pipe Line Co. and Chevron Midstream Pipelines LLC (OGJ Online, Sept. 29, 2014).

Contact Christopher E. Smith at chriss@ogjonline.com.

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