May 25, 2011 [OPIS] - Blackwater Midstream Corp. said on Tuesday that it has entered into a Letter of Intent to acquire a petroleum products terminal facility in Salisbury, Md., for $1.6 million.
The current owner of the terminal is NuStar. The terminal is one of the few with access to barges in Maryland and eastern shore.
The acquisition, which would represent the company’s expansion into the Mid- Atlantic, is expected to be completed within the third quarter of 2011.
The terminal has the capacity to store gasoline, diesel and fuel oil. The Salisbury site consists of 177,000 bbl of storage capacity situated on six acres of property located along the Wicomico River.
The site is accessible by inland barges and tank trucks. There is a three- bay automated truck loading rack equipped for bottom loading with vapor controls. In addition, there is ample property within the fence line to expand the capacity at the site.
Blackwater Midstream Corp. is an independent operator of bulk liquid storage terminals including storage terminal facilities in the Port of New Orleans in Westwego, La., and in Brunswick, Ga. Both facilities have a combined capacity of more than 1 million bbl and are capable of storing a wide variety of liquid products. The sites offer intermodal access for product distribution via marine, rail and truck.
