ExxonMobil acquired a crude oil terminal in Wink, Texas located in the rapidly growing Delaware Basin, part of Permian Basin from Genesis Energy, the company announced on Wednesday.
According to company, 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 capable of supplying a minimum of 100,000 barrels per day of throughput with the ability to expand, according to the press release.
“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,” ExxonMobil Pipeline Company's President Gerald Frey said in the press release.
“It also provides shippers with efficient and cost-effective access to market destinations in the Gulf region,” Frey added.
ExxonMobil said the acquisition marks the company's first terminal in the Permian Basin to be anchored by the corporation’s newly acquired Delaware Basin acreage, previously announced in January.
By Muhsin Baris Tiryakioglu
Anadolu Agency
energy@aa.com.tr