Blackwater Midstream plans to acquire terminal facility

Blackwater Midstream Corp has entered into a letter of intent to acquire a liquid terminal facility in Brunswick GA for $1.8 million. The acquisition is expected to be completed within the first quarter of 2010.

The Brunswick site consists of 160,000 barrels of storage capacity on six acres of property that is leased from the Georgia Port Authority. The site is accessible for ocean vessels, inland barges, railcars, and tank trucks. There is space available within the existing facility to build an additional 150,000 barrels of capacity at the site.

Mike Suder, Blackwater Midstream’s chief executive officer, said, “The Brunswick facility acquisition is a key addition to our business. It is strategically located between the crowded Savannah and Jacksonville markets and will serve our potential customers’ product distribution requirements as a full-service terminal storage facility.”

Blackwater Midstream is an independent operator of bulk liquid storage terminals including a storage terminal facility in the Port of New Orleans in Westwego LA. The Westwego facility consists of 902,000 barrels of storage capacity capable of storing a variety of chemical and petroleum products. The site offers modal access for product distribution via marine, rail, and truck. Blackwater New Orleans is a member of the International Liquid Terminal Association.

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