The facility consists of 177,000 barrels of storage capacity situated on six acres of property along the Wicomico River.
The transaction is expected to be completed within the third quarter of this year.
Blackwater Midstream CEO Mike Suder said this acquisition is a continuance of the company’s business plan to acquire and grow under-performing assets by offering exceptional service to its customers while adding shareholder value.
Blackwater Midstream is an operator of bulk liquid storage terminals including storage terminal facilities in the Port of New Orleans in Westwego, Louisiana and in Brunswick, Georgia.
