ODESSA, Texas, Oct. 1, 2015 /PRNewswire/ — CIG Logistics, an industry-leading oil and gas logistics provider, has acquired a premier 330 acre rail facility in Odessa, Texas from Flint Hills Resources. The companies closed on the deal September 29 and the purchase price and terms of the acquisition were undisclosed.
The Odessa facility is a critical logistics hub for the energy industry fulfilling a key role in the movement of crude oil and frac sand via rail and truck to and from the Permian Basin. The large-scale facility is served directly by the Union Pacific Railroad and has 29,000 feet of track including two unit train loop tracks and ten ladder tracks.
With the acquisition, CIG Logistics will strengthen its core business of transloading energy-related products and the terminal’s substantial size, railcar capacity and location will enable the company to expand its logistics services to additional industries, which will include the construction, aggregate, chemical and automotive sectors.
“The acquisition of the Odessa terminal continues to demonstrate our long term confidence in the strength of the energy sector and our commitment to making substantial and strategic investments to support our growing customer base,” said Jonathan Green, Chief Executive Officer of CIG Logistics. “We look forward to partnering with our nation’s key industrial companies in the region to improve supply chain logistics and ultimately strengthen our economy.”
The site has the ability to load unit trains of crude oil and unload other bulk products. Ultimately, the terminal is expected to employ many skilled workers, including railroad engineers, conductors and industrial operators.
The Odessa terminal adds to CIG Logistics’ expanding network and is the company’s eighth transloading and storage facility located throughout Texas and New Mexico. The company operates Texas-based terminals in Lubbock, Slaton, San Antonio, Big Lake, Hugh Springs and Southton, as well as a terminal in Jal, N.M.
About CIG Logistics:
CIG Logistics is a trusted logistics partner for large scale transloading and storage services for the oil and gas market. With the financial backing of Barclays Natural Resource Investments (BNRI), CIG Logistics operates strategically located rail terminals to support the energy supply chain in the United States, Canada, and Mexico. CIG Logistics is headquartered in Fort Worth, Texas.
More Information: www.ciglogistics.com
SOURCE CIG Logistics