NuDevco Midstream Development LLC, sponsor of Houston-based Marlin Midstream Partners LP, purchased land in Eunice, N.M., for a crude oil terminalling site. Financial terms of the transaction were not disclosed, the company said Oct. 13.
The Lea County land is being developed to accommodate additional rail space and tank storage. It includes rail spurs and truck siting, and the company is purchasing rail cars, crude oil trucks, stabilizer tower units and storage tanks.
The western Permian Basin will be served by the terminal, NuDevco Midstream said.
“We are pleased to announce the addition of these new assets in New Mexico, targeting the western Permian Basin’s increasing demand for crude oil storage and transportation services. We plan on developing these new land assets over the next year as potential dropdown opportunities to Marlin,” said W. Keith Maxwell III, chairman and CEO of the companies.
Recommended Reading
Marketed: Anschutz Exploration Six Asset Package in Wyoming
2024-02-26 - Anschutz Exploration Corp. has retained EnergyNet for the sale of six AFE asset packages in Campbell County, Wyoming.
Marketed: Sage Natural Resources 34 Well Package in Tarrant, Wise Counties, Texas
2024-02-02 - Sage Natural Resources retained EnergyNet for the sale of a 34 package (ORRI) in Tarrant and Wise counties, Texas.
Marketed: Haynesville Shale 157 Well Package in Louisiana
2024-02-23 - A private seller has retained EnergyNet for the sale of a Haynesville Shale 157 well package opportunity in Bienville, Bossier, Casso, De Soto and Sabine parishes, Louisiana.
Marketed: Paloma Natural Gas Eagle Ford Shale Opportunity in Frio County, Texas
2024-02-16 - Paloma Natural Gas has retained EnergyNet for the sale of a Eagle Ford/ Buda opportunity in Frio County, Texas.
Marketed: Bendel Ventures 73 Well Package in Texas
2024-03-05 - Bendel Ventures LP has retained EnergyNet for the sale of a 73 well package in Iron and Reagan counties, Texas.