Earlier this month, Keyera Corporation announced its plans for a new oil storage and terminal business in Cushing, Oklahoma. Now the company has purchased a logistics and liquids lending terminal just 50 miles away near Tulsa.
The terminal receives, blends and delivers diluent the majority of which is transported by pipeline from the Mont Belvieu area to the Chicago area and ultimately into the Alberta market for oilsands transportation. This acquisition is worth approximately US$80 million, plus up to US$10 million in additional consideration over five years.
On May 15, Keyera announced its plans for the new US$205 million Wildhorse Terminal, which will have will have 4.5 million barrels of working storage capacity. It is expected to start operations by mid-2020.
Image courtesy of Joey Podlubny/JWN