N.Y.-based National Fuel Resources has once again diversified its midstream capabilities with the acquisition of a crude oil terminal in Gibson, La., by the company’s Empire Pipeline subsidiary. Previously owned and operated by Equilon (Shell Oil Products and Shell Oil Co.), the new assets mark Empire’s first entry into crude oil terminalling—an area it plans to grow through future acquisitions.
National Fuel Reources
National Fuel Resources, Inc. (NFR) is among the largest non-utility suppliers of natural gas in this region. For more than 25 years, NFR has been helping businesses in New York and Pennsylvania with their natural gas costs.
Located in Terrebonne Parish near the Intracoastal Waterway, the Gibson Terminal offers 300,000 barrels of tank storage along with barge loading and unloading and a truck receiving station. The facility handles sweet and sour crude from the Eagle Ford, Permian, and Bakken via the Ship Shoal Pipeline System, the Atchafalaya Pipeline, and the Magellan Pipeline. Empire says it also plans to build a bi-directional pipeline connection to Shell’s 350-mile Zydeco pipeline.
National Fuel in May acquired Shell’s upstream and midstream gathering assets in Pa., for $541 million. The transaction included 200,000 acres in Tioga County, with net proved developed gas reserves of approximately 710 BCF, 142 miles of gathering pipe, and more than 100 miles of water pipelines—all of which support the production operations.
National Fuel’s business segments include a natural gas utility, exploration and production, natural gas transportation pipelines and storage, and natural gas gathering.
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