Blackwater New Orleans LLC, a wholly owned entity of mining company Blackwater Midstream Corp (OTCBB:BWMS), declared on 13 January that it has finalised a new lease for storage capacity with a Louisiana chemical manufacturer at its recently purchased Westwego, Louisiana, facility.
The lease will commence in mid-January and is anticipated to add approximately USD500,000 in net earnings in 2009. The company closed the acquisition of NuStar Energy’s 855,000 barrel storage terminal on 23 December 2008.
