Project Update Exxon Mobil Acquires Oil Terminal from Genesis Energy
The possession of the terminal makes the company a key midstream provider in the rapidly growing Permian Basin.
Houston/USA — Exxon Mobil has recently announced that it has acquired a crude oil terminal in Wink, Texas from Genesis Energy. The terminal is located in the rapidly growing Delaware Basin, part of Permian Basin – one of the most prolific plays in the United States.
The terminal is strategically positioned 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, and is permitted for 100,000 barrels per day of throughput with the ability to expand.
This acquisition marks Exxon Mobil’s first terminal in the Permian Basin to be anchored by the corporation’s newly acquired Delaware Basin acreage, previously announced in January.