Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/uet-sells-pawnee-crude-terminal-to-arc-logistics-p.shtmlUET sells Pawnee Crude Terminal to Arc Logistics Partners
United Energy Trading, LLC (UET), together with Hawkeye Midstream, LLC, has sold 100% of its subsidiary, UET Midstream, LLC (Midstream),
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United Energy Trading, LLC (UET), together with Hawkeye Midstream, LLC, has sold 100% of its subsidiary, UET Midstream, LLC (Midstream), to ARC Terminals Holdings LLC, a wholly-owned subsidiary of ARC Logistics Partners LP (ARCX), for a total adjusted sales price of $76.6 million consisting of both cash and ARCX common units.
The sale focused on the principal assets of Midstream, namely a newly-constructed, operational crude oil terminal (the Pawnee Terminal) and proximal development site both located in the heart of northeast Colorado's Niobrara play. The Pawnee Terminal is the primary injection point into Tallgrass Energy Partners' (Tallgrass) Northeast Colorado Lateral of the Pony Express Pipeline, a major pipeline transporting crude oil produced from the Bakken and Niobrara Formations to Cushing, Oklahoma.
