Pin Oak Secures Interconnection to EPIC and Red Oak Pipelines Commences Construction on a New Crude Oil Hub at Taft
CORPUS CHRISTI, Texas, Aug. 1, 2019 — Pin Oak Corpus Christi, LLC (“Pin Oak” or the “Company”) announced material updates to its growing terminals business in the Corpus Christi market, including new interconnection agreements with EPIC Pipeline and Red Oak Pipeline and commencement of construction on its new crude oil trading hub at Taft (“Taft Terminal”). The Taft Terminal will complement Pin Oak’s Corpus Christi Terminal, an approximately 4 million barrel storage facility with export-capable Suezmax and MR docks set to commence operations in Q4 2019.
- EPIC Pipeline Interconnection capable of receiving crude oil from the Permian Basin and Eagle Ford Shale
- Red Oak Pipeline Interconnection capable of receiving crude oil from the Permian Basin, Bakken Shale, DJ Basin, and Niobrara Basin
- Commencing construction on 1.7 million barrels of crude oil tankage at Taft Terminal, with ability to construct an additional 2.8 million barrels of crude oil tankage
- Taft Terminal will have connectivity to Corpus Christi and Ingleside markets, Pin Oak Corpus Christi (including its key infrastructure), and long haul pipelines
“The execution of these new pipeline interconnections and commercial commitments supports the build-out of our Taft Terminal, and creates a unique service offering. Pin Oak’s ability to receive product volumes from the most prolific basins in the United States will deliver to our customer’s unparalleled optionality and access to both domestic and international markets alike, further facilitating essential diversification for U.S. producers. Our activities at Pin Oak’s Taft Terminal only add to the economic growth for the local economy in and around Corpus Christi,” said Corey Leonard, Chief Executive Officer of Pin Oak.
About Pin Oak Corpus Christi, LLC
Pin Oak Corpus Christi, LLC is owns and manages the Pin Oak Corpus Christi and Pin Oak Taft Terminals. Pin Oak Corpus Christ Terminal has 800,000 barrels of existing heated and unheated storage capacity, Suezmax and barge docks, and is constructing an additional 3,000,000 barrels of crude storage capacity with anticipated commencement of operations in Q4 2019. Pin Oak Corpus Christi is also constructing a connection to the Gray Oak Pipeline; it has multiple existing pipeline connections into both the Valero and Citgo refineries in Corpus Christi, and can also provide customers with rail and truck loading / unloading solutions. Pin Oak Taft Terminal commenced construction on 1.7 million barrels of crude oil tankage, along with pipeline interconnections to EPIC, Red Oak, and Gray Oak Pipelines. Pin Oak Corpus Christi, LLC is part of the Pin Oak group of companies, a portfolio of greenfield and brownfield midstream assets in the U.S. Gulf Coast. The group sold its first terminal, Pin Oak Mt. Airy, to MPLX LP in September 2018.
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