<< Rail Magazine Articles Home
U.S. Development Group sells five crude-by-rail terminals to Plains All American Pipeline
U.S. Development Group L.L.C. (USD) entered into an agreement to sell five of its crude-by-rail oil handling and distribution terminals to Plains All American Pipeline L.P. for $500 million.
The transaction involves the St. James Crude Terminal in St. James, La.; Eagle Ford Crude Terminal in Gardendale, Texas; Van Hook Crude Terminal in Mountrail County, N.D.; Bakersfield Crude Terminal under development in Bakersfield, Calif.; and Niobrara Crude Terminal in Carr, Colo. The terminals' daily throughput capacity totals about 225,000 barrels of crude oil and condensate.
Under the deal's terms, USD will continue to provide customer service and scheduling services on behalf of Plains All American Pipeline. A Houston-based developer of unit train logistics and terminal facilities, USD plans to continue expanding its network of terminals supporting the oil and gas, and petrochemical industries.
"Our technical and service expertise in scheduling, fleet management and railroad operations support complements Plains' extensive network of assets throughout the U.S.," said USD President and Chief Executive Officer Dan Borgen in a prepared statement. "We believe that this transaction will provide for the most efficient optimization of the assets involved."
Browse articles on U.S. Development Group on Progressive Railroading
- Amtrak service to Norfolk will provide a much-needed option for Northeast Corridor travelers, Virginia rail department says
- Class I railroads' outlook for 2013 is a smidgen on the optimistic side
- MAP-21 gives transit execs some certainty in 2013
- Rail outlook 2013; reading the rail-car order barometer (Pat Foran, Context, December 2012)
- For Norfolk Southern, a new intermodal initiative is paying off in shorter trains and efficiency gains
- Amtrak reorganization outlined during House Transportation and Infrastructure Committee hearing
- Tracy DeLeon, League of Railway Industry Women's 2012 'woman of the year,' talks career success
- Positive train control a tall order for short line railroads
- U.S. locomotive order activity has slowed, but demand for GenSets is up for some motive power manufacturers
- Rail-car deliveries to drop to 47,000 in 2013 — by Toby Kolstad
- Track inspection equipment and services update
- Domestic container volume up in 3Q, IANA says; plus, freight rail traffic data
- Railroad Contractor Case Studies (advertorial)
Progressive Railroading editorial staff.