Shamrock Acquires Terminal
Oct 1, 2001 12:00 PM
A subsidiary of Shamrock Logistics LP has purchased a refined products terminal in Southlake TX from Ultramar Diamond Shamrock Corp for $5.6 million.
Serving the Dallas/Fort Worth area, the terminal has connections to third-party pipelines delivering refined petroleum products from the Gulf Coast as well as to Ultramar Diamond Shamrock's refinery in the Texas Panhandle.
Curt Anastasio, chief executive officer of Shamrock Logistics, said, “This year Southlake has averaged over 25,000 barrels per day of volume. We expect full-year-2001 EBITDA to be approximately $1.4 million.”
Shamrock Logistics completed the initial public offering of its common partnership units April 16, 2001. A master limited partnership, Shamrock transports the majority of refined products from three of Ultramar Diamond Shamrock Corp's refineries to markets in the mid-continent, Southwest, and Mexico border region. In addition, Shamrock's pipelines supply crude oil to these three Ultramar Diamond Shamrock refineries.
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