Read the Latest News Affecting the Tank & Terminal Industry

Clearfork Midstream to Acquire Azure Midstream Energy, Secures Initial Capital Commitment from EnCap Flatrock Midstream
Market Screener, January 18
Clearfork Midstream LLC announced its intended purchase of Azure Midstream Energy, LLC in a transaction funded with a capital commitment from EnCap Flatrock Midstream. Azure assets include 500 miles of pipeline and 1.2 billion cubic feet per day of natural gas treating capacity. The sale is expected close in early 2022.

Harvest Midstream to Acquire Arrowhead ST Holdings Assets in Eagle Ford
North American Energy Pipelines, January 17
Harvest Midstream announced it will buy the remaining 75% interest in its Arrowhead ST Holdings LLC joint venture in a move to expand the company's transportation and logistics service platforms. Arrowhead systems include more than 500 miles of pipeline and about 300,000 bpd of throughput between the Eagle Ford Basin and Corpus Christie.

BANGL Adds Rattler Midstream LP as Strategic Partner Following Fourth Quarter 2021 In-Service Date
Market Screener, January 24
Rattler Midstream LP has joined WhiteWater Midstream and West Texas Gas in the BANGL joint venture. In addition, Diamondback Energy, Rattler Midstream's upstream operating parent, has entered into a long-term natural gas liquids dedication with BANGL.

DOE Awards 13.4 Million Barrels from Strategic Petroleum Reserve Exchange to Bolster Fuel Supply Chain
The Ritz Herald, January 26
The U.S. Department of Energy announced an additional seven exchange contracts totaling 13.4 million barrels of crude will be released from the nation's Strategic Petroleum Reserve as part of an authorization announcement published on November 23, 2021.

Houston Ship Channel Awarded $142.5 Million Infrastructure Project
BIC Magazine, January 25
The Army Corps of Engineers has released its FY2022 workplan totaling $142.5 million for a segment of the Houston Ship Channel widening and deepening project. The funding is part of the infrastructure Investment and Jobs Act targeting larger container vessels at the terminal.

U.S. Output to Top 12.4 Million BPD in 2023, EIA Says
Reuters, January 11
An Energy Information Administration forecast released in January expects U.S. demand for gasoline and oil to rise to 9.15 million and 20.92 million bpd, respectively, in 2023.