Harvest Midstream Acquires Louisiana Pipeline System
(P&GJ) — Harvest Midstream (Harvest) announced the closing of a transaction to purchase the remaining interest of Arrowhead Gulf Coast Holdings LLC (AGCH), a critical network of pipelines and terminals serving the Louisiana refinery market and regional production.
The AGCH system includes nearly 300 miles of crude and condensate pipelines and terminal assets in South Louisiana. The BOA/CAM pipelines are integral to the crude supply of the Valero Meraux and PBF Chalmette refineries. Other pipeline and terminal assets include Golden Cocodrie, Atchafalaya, Eugene Island, Erath Tank Farm, Burns dock, Burns terminal, and Sabine.
“Harvest has a long history of operating in southern Louisiana,” Jason Rebrook, Harvest CEO, said. “The closing on AGCH is a continuation of our longstanding commitment to the region. It also shows the tremendous potential we see along the Louisiana Gulf Coast. We are committed to providing best-in-class service to our customers as the region continues to grow.”
The transaction will bring AGCH under full ownership of Harvest. Prior to today’s announcement, a fund managed by BlackRock Real Assets held a 37.5% stake and Harvest owned the remaining 62.5%.
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