CorEnergy Announces Acquisition of Crimson’s California Pipeline Assets
Posted: February 4, 2021 |
KANSAS CITY, MO –February 4, 2021 - CorEnergy Infrastructure Trust, Inc. ("CorEnergy" or the "Company") today announced the acquisition (the “Transaction”) of Crimson Midstream Holdings, LLC (“Crimson”), a California Public Utilities Commission (CPUC) regulated crude oil pipeline owner and operator, for consideration valued at approximately $350 million.
Crimson Midstream LLC Press Announcement – Final Regulatory Approval for Shell-San Pablo Bay Pipeline Company Acquisition
Posted: February 6, 2020 |
Long Beach, February 6, 2020 – Crimson Midstream, LLC (Crimson), confirms it has received the final regulatory approval needed to complete the purchase from Shell Pipeline Company LP (Shell) of the Shell California crude pipeline systems. The California Public Utilities Commission (CPUC) provided its regulatory approval on February 6, 2020.
Crimson Midstream LLC Press Announcement – Shell-San Pablo Bay Pipeline Company Acquisition
Posted: February 1, 2019 |
Long Beach, February 1, 2019 – Crimson Midstream, LLC (Crimson), today confirmed it has signed a Sale and Purchase Agreement (SPA) with Shell Pipeline Company LP (Shell) to buy its California crude pipeline systems. Approximately 600 miles of active, idled and abandoned pipelines including the San Pablo Bay Pipeline Company and the proprietary crude lines in California are included in this transaction. The sale of the company is subject to regulatory approval and is expected to be completed in 2019.
Crimson Midstream and MPLX Announce Extension of Binding Open Season for Swordfish Pipeline to Align with Capline Reversal Open Season
Posted: January 31, 2019 | Press Release
LONG BEACH, California, Jan. 31, 2019 – Crimson Midstream, LLC and MPLX LP (NYSE: MPLX) today announced an extension to the binding open season on the Swordfish Pipeline to align with the recently announced binding open season by Capline Pipeline Company LLC. Additionally, the Louisiana Offshore Oil Port (LOOP) recently confirmed the loading of three VLCCs in seven days from the deepwater port and stated the number of vessels loaded can be scaled to meet increasing market demand.
The Carlyle Group Makes a Strategic Investment in Crimson Midstream, a Provider of Crude Oil Transportation and Storage Services
Posted: January 14, 2019 | Press Release
Investment to Accelerate Crimson’s Growth and Increase U.S. Crude Producers’ Access to Global Markets
WASHINGTON, DC – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announces it has made a strategic equity investment in Crimson Midstream Holdings, LLC (Crimson), a provider of crude oil transportation and storage services that operates more than 2,000 miles of pipeline in the U.S. transporting approximately 400,000 barrels of crude oil per day. This strategic partnership will help enhance Crimson’s support of shippers on its Gulf of Mexico, Louisiana and California pipeline systems and grow its presence in these regions and beyond as demand for U.S. crude export infrastructure increases. Carlyle’s Global Infrastructure Opportunity Fund provided the equity for this investment.