This site is protected by reCAPTCHA and the Google
Terms of Service apply.
USD Partners LP of Houston has agreed to acquire Casper Crude to Rail LLC from Stonepeak Infrastructure Partners, Cogent Energy Solutions and The Granite Peak Group for $225 million, the companies announced Monday.The Casper’s unit train-capable crude-oil terminal in Casper, Wyo., has a direct connection from Spectra Energy Partners LP’s Express crude-oil pipeline, which runs from Hardisty, Alberta, to Casper. The facility began operations in September 2014.USD Partners will finance the acquisition with $35 million in cash and $173 million in senior secured credit facility borrowings. Closing is expected in fourth-quarter 2015, according to a press release.The terminal offers 100,000 barrels per day of capacity, dual loop tracks and six customer-dedicated storage tanks with 900,000 barrels of total capacity. Its location offers access to refining centers across the United States. The facility has room for a second loading station and an additional 1.1 million barrels of storage capacity."The Casper terminal represents an attractive opportunity to deliver a highly accretive, complementary acquisition to our unit-holders and supports the partnership’s ability to achieve its targeted distribution growth over the next several years," said USD Partners Chief Executive Officer Dan Borgen.