TEPPCO Partners LP has placed into service three new crude oil storage tanks at its Cushing OK facility representing a 900,000 barrel, or nearly 50 percent, increase in its storage capacity. The expansion, which is supported by long-term dedicated lease agreements, brings total capacity at the Gushing facility to 2.8 million barrels.
The recently constructed tanks are part of a multi-phase expansion program TEPPCO is pursuing at Gushing. The partnership expects to place another 250,000 barrels of crude oil storage capacity in service in 2008. These initiatives are part of TEPPCO's previously announced capital expenditure program. Since acquiring its Gushing assets in 2000, the partnership has more than tripled storage capacity. With additional property available for expansion, the firm continues to evaluate opportunities to build additional tanks at the facility.