ExxonMobil acquires crude oil terminal from Genesis Energy

ExxonMobil acquires crude oil terminal from Genesis Energy

11:33 AM, 24th October 2017
ExxonMobil logo

HOUSTON, US: ExxonMobil Corporation (XOM) has acquired a crude oil terminal in Wink, Texas from Genesis Energy LP. The terminal is located in the rapidly growing Delaware Basin, part of Permian Basin – one of the most prolific plays in US.

The terminal is strategically positioned to handle Permian Basin crude oil and condensate for transport to Gulf Coast refineries and marine export terminals. The facility is interconnected to the Plains Alpha Crude Connector pipeline system and is permitted for 100,000 barrels per day of throughput with the ability to expand.

This acquisition marks ExxonMobil’s first terminal in the Permian Basin to be anchored by the corporation’s newly acquired Delaware Basin acreage, previously announced in January.

“The terminal provides crude producers with a full range of logistical options including truck, rail and inbound and outbound pipeline access, not only for ExxonMobil’s production, but for all Permian Basin producers. It also provides shippers with efficient and cost-effective access to market destinations in the Gulf region,” said Gerald Frey, president of ExxonMobil Pipeline Company.

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