Terminal is anchored by Exxon Permian assets acquired in January

 

Exxon Mobil Corporation (ticker: XOM) acquired a crude oil terminal in Wink, Texas from Genesis Energy LP to handle Permian basin crude oil and condensate for transport to Gulf Coast refineries and marine export terminals. The facility is interconnected to the Plains Alpha Crude Connector pipeline system. Exxon said its terminal is permitted for 100,000 barrels per day of throughput with the option to expand.

This terminal provides crude producers with logistical options including truck, rail and inbound and outbound pipeline access to market destinations including the Gulf region, Gerald Frey, president of ExxonMobil Pipeline Company said in a statement.

Exxon Buys its First Crude Oil Terminal in the Permian 

Exxon Permian position

This is Exxon’s first terminal in the Permian basin to be anchored by the corporation’s newly acquired Delaware Basin acreage, which Oil & Gas 360 covered in a story entitled ExxonMobil/XTO Doubles Permian Footprint with $6.6 Billion Acquisition of Bass Family Assets.

Exxon said in January that its newly acquired contiguous acreage position “will provide significant cost advantages in developing 3.4 billion barrels of Delaware basin resource, of which 75 percent is liquids.” At that time Exxon said it can drill the longest lateral wells in the Permian Basin.

 

 


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