The Brunswick site consists of 160,000 barrels of storage capacity on six acres of property that is leased from the Georgia Port Authority. The site is accessible for ocean vessels, inland barges, railcars, and tanktrucks. There is space available within the existing facility to build an additional 150,000 barrels of capacity at the site. The closing on the acquisition is expected to occur by May 31, 2010.
Mike Suder, CEO of Blackwater Midstream, said: “The Brunswick facility acquisition is a key addition to our business. It further illustrates the commitment that Blackwater Midstream has to our shareholders to continually seek opportunities to expand within our fence line and to acquire strategic terminal assets.
“The newly constructed 150,000 barrels of capacity and ship dock at our Westwego, Louisiana facility, and the acquisition of this terminal in Brunswick is right in line with that business objective of expanding our portfolio.”
