US Development Group to Sell Crude-by-Rail Terminals to Plains All American for $500M

U.S. Development Group LLC (USD), a Houston-based developer of unit train logistics and terminal facilities, today announced that it has entered into an agreement to sell five of its industry-leading crude oil handling and distribution terminals to Plains All American Pipeline, L.P.

, a leader in the transportation, storage, development and marketing of crude oil and related products, for $500 million. The transaction involves the following terminals: the St. James Crude Terminal in St. James, La.; the Eagle Ford Crude Terminal in Gardendale, Texas; the Van Hook Crude Terminal in Mountrail County, N.D.; the Bakersfield Crude Terminal under development in Bakersfield, Calif. and the Niobrara Crude Terminal in Carr, Colo. In total, the terminals have