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USD Partners acquires Wyoming crude-oil terminal

USD Partners LP recently completed its acquisition of a crude-oil terminal in Casper, Wyo., for $225 million, the company announced last week.

The acquired assets include a unit-train-capable rail-loading terminal, 900,000 barrels of tank capacity for storage and blending operations, and a pipeline connection from Spectra Energy Partners LP's Express crude oil pipeline, currently the primary source of crude oil delivered to the terminal, according to a company press release.

The Casper terminal is supported by take-or-pay contracts with primarily investment grade refiners.

Additionally, on Nov. 13 USD amended its senior secured credit agreement to increase its borrowing capacity from $300 million to $400 million, supported by existing lenders and by the addition of Goldman Sachs Bank USA to the bank group.

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More News from 11/23/2015