PIN OAK SELLS MT AIRY

摘要

Pin Oak Holdings has announced the sale of Pin Oak Terminals,LLC to MPLX LP for US$450 million in cash-As part of the transaction,Pin Oak will retain an economic interest in the MtAiry,Louisiana facility.Pin Oak is a partnership between Dauphine Midstream,LLC and Mercuria Energy Group Ltd.Mt Airy was the first asset developed,financed,constructed,and operated by Pin Oak.The greenfietd site was acquired in 2012 with the objective of developing a full-service transport hub on the Mississippi River.MtAiry has4 million barrels of fully-leased storage capacity and an operational deepwater ship dock.The facility has the capability to expand its storage capacity to 10 million barrels and is permitted for construction of a second deepwater ship dock.”Our team is very proud to have built a premier storage and logistics facility in Louisiana,and this transaction further validates our development strategy and ability to execute,”said Mike Reed,CEO.”We delivered top-tier logistics solutions for our customers,and we are pleased that our dedicated employees will continue to provide excellent service to our valued customers.”