Sunoco acquires pipeline, storage facilities
Aug 4, 2005 1:02 PM
Sunoco Logistics Partners LP, Philadelphia PA, has acquired a crude oil pipeline system and storage facilities, located in Texas, from Mobil Pipe Line Company. The acquisition includes a two-bay tank truck terminal in Corsicana TX.
The system consists primarily of a 187-mile, 16-inch pipeline, with an operating capacity of 125 million barrels per day (mbpd), originating at the Corsicana terminal and terminating at Wichita Falls TX.
The Corsicana terminal consists of 2.9 million shell barrels of crude oil storage, while a Ringgold TX terminal consists of 0.5 million shell barrels of crude oil capacity.
Associated with the transaction is the construction of a new $17 million, 20-mile pipeline connecting West Texas Gulf Pipe Line at Wortham TX to Corsicana. Construction is scheduled for completion in the fourth quarter of 2005.
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