This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Inergy Midstream And Enserco Midstream Announce Crude Oil Rail Terminal Joint Venture

Inergy Midstream, L.P. (NYSE:NRGM) (“Inergy Midstream”) and Enserco Midstream, LLC (“Enserco Midstream”) announced today that they have formed a joint venture to own and operate a crude oil rail terminal located in Douglas County, Wyoming (“Douglas Facility”). Inergy Midstream’s subsidiary, Inergy Crude Logistics, LLC, and Enserco Midstream’s subsidiary, Enserco Powder River Basin, LLC, each own an approximate 50% interest in Powder River Basin Industrial Complex, LLC (“PRBIC”), the owner of the Douglas Facility. The Douglas Facility was placed into manifest service in August 2013, and unit train service is expected to begin during the first quarter of 2014.

The Douglas Facility is located in Converse County, Wyoming, atop the emerging Niobrara Powder River Basin shale play. After commencement of unit train service, Inergy Midstream and Enserco Midstream expect to expand throughput capacity to approximately 20,000 barrels per day. The terminal’s throughput capacity is further expandable to up to 60,000 barrels per day as production volumes increase in the developing Niobrara Powder River Basin shale play. PRBIC has an anchor agreement with a major producer for handling of crude oil volumes at the Douglas Facility.

“We are pleased to partner with Enserco Midstream on this important development project,” said Robert G. Phillips, Chairman, President, and Chief Executive Officer of Inergy Midstream’s general partner. “Enserco Midstream provides deep energy industry knowledge, and together we look forward to providing first-class takeaway solutions for our producer customers in the Powder River Basin play.”

“This transaction further expands Inergy Midstream’s crude logistics operations into another high-quality, emerging shale play and is an example of the strategic value of the planned merger between Inergy Midstream and Crestwood Midstream Partners LP (NYSE:CMLP) (“Crestwood”). The crude logistics operations of PRBIC are complementary to Crestwood’s recently completed acquisition of a 50% interest in the Jackalope natural gas gathering system and enhance our position in the Powder River Basin play by providing additional services and handling multiple products across the midstream value chain and creates additional opportunities for growth.”

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs