Market Overview

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. (NYSE: PAA), 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

See full press release

Posted-In: News Guidance Asset Sales Management M&A

 

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