EnLink Midstream Partners has acquired the Victoria Express Pipeline and associated truck terminal and storage assets (VEX) from Devon Energy.
The 56-mile VEX multi-grade crude oil pipeline has a current capacity of approximately 50,000 barrels per day (bpd).
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The pipeline’s capacity will be increased to around 90,000 bpd after completion of expansion projects, which are currently underway.
Other VEX assets at the destination of the pipeline include an eight-bay truck unloading terminal, 200,000 barrels of above-ground storage, with 50,000 barrels are under construction, and rights to barge loading docks.
The transaction also includes facilities near the pipeline’s origin that are under construction, including an eight-bay truck unloading terminal and 160,000 barrels of above-ground storage.
EnLink Midstream Partners and EnLink Midstream (together EnLink) have recently acquired Coronado Midstream for $600m.
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By GlobalDataBased in Dallas, Texas, EnLink Midstream’s assets are located in several oil and gas regions in North America.
The company’s assets include over 9,100 miles of gathering and transportation pipelines, 16 processing plants with 3.6 billion cubic feet per day of processing capacity, seven fractionators with 280,000 barrels per day of fractionation capacity.
It also owns barge and rail terminals, product storage facilities, brine disposal wells, a crude oil trucking fleet and equity investments in several private midstream firms.
