CorEnergy Infrastructure Trust, Inc. (ticker: CORR) holds the unique position of being the first publicly listed Real Estate Investment Trust that has a focus specifically in energy infrastructure. The company owns midstream and downstream assets, including pipelines, storage terminals, and distribution facilities.
CorEnergy’s assets provide stable cash flows, on long-term assets, with little sensitivity to variations in commodity prices. The company has indicated that, for the 2017 year, it is considering one to two acquisitions, with a size range of between $50 and $250 million.
Source: CorEnergy Infrastructure Trust
Pinedale LGS
The Pinedale Liquid Gathering System utilizes more than 150 miles of pipeline and 107 receiving points, plus four central storage facilities in the Pinedale Anticline, in Wyoming. CorEnergy leases the pipeline to a subsidiary of Ultra Petroleum. The initial term for the lease is for 15 years.
The Pinedale Liquid Gathering System accounts for approximately 30% of CorEnergy’s total assets.
Grand Isle gathering system
One of CorEnergy’s assets is the Grand Isle gathering system, which is composed of 153 miles of subsea pipeline, transporting oil and water. The primary company utilizing the gathering system is Energy XXI, which uses the system for its six producing fields in the area. ExxonMobil also utilizes the system to transport fluids from one field. The gathering system has a capacity of 120,000 BPD.
Onshore, CorEnergy’s Grand Isle system is connected to facilities for separation, salt-water disposal, and storage. The system represents approximately 38% of the CorEnergy’s assets.
Source: CorEnergy Infrastructure Trust
MoGas pipeline system
CorEnergy’s natural gas pipeline, the MoGas Pipeline System, is approximately 263 miles long and extends from Missouri into Illinois. The MoGas system transports natural gas to utility companies from receiving points with Mississippi River Transmission Corporation, Panhandle Eastern Pipe Line Company, and Rockies Express Pipeline.
The pipeline accounts for approximately 18% of the company’s assets.
Portland terminal facility
The company’s Portland Terminal Facility asset is a rail and marine loading terminal covering 39-acres in Portland, Oregon. The facility has approximately 1.5 million barrels of storage capacity. The asset is currently being leased to Arc Terminals, and accounts for approximately 7% of CorEnergy’s assets.
Other assets
The Omega Pipeline Company, owned by MoWood—a subsidiary of CorEnergy—owns a gas distribution system in south-Central Missouri, with the U.S. Department of Defense as the main contract holder.
CorEnergy has investments in various saltwater disposal facilities, totaling approximately 6% of the company’s total assets.
CorEnergy Infrastructure Trust, Inc. is presenting at EnerCom’s The Oil & Gas Conference® 22
CorEnergy will be a presenting company at the upcoming EnerCom conference in Denver, Colorado—The Oil & Gas Conference® 22.
The conference is EnerCom’s 22nd Denver-based oil and gas focused investor conference, bringing together publicly traded E&Ps and oilfield service and technology companies with institutional investors. The conference will be at the Denver Downtown Westin Hotel, August 13-17, 2017. To register for The Oil & Gas Conference® 22 please visit the conference website.
