September 24, 2018 [Rigzone] - CVR Refining, LP plans to sell its crude oil tank farm assets in the oil pricing hub of Cushing, Okla., the company reported Monday.
The company stated that it is currently entertaining bids from potential purchases of its 1.5-million-barrel crude oil storage facility in central Oklahoma. The tank farm, which sits on approximately 130 acres, boasts six 250,000-barrel storage tanks and space for 12 additional similarly-sized tanks, CVR said in a written statement. In addition, it noted that the complex includes a truck unloading facility and four 400-barrel tanks.
According to CVR, the facility enjoys “ample connectivity” to other terminals and pipelines in Cushing, the major trading hub for crude oil and the delivery point for West Texas Intermediate (WTI) crude oil traded on the New York Mercantile Exchange.
CVR stated that it aims to close on the Cushing assets sale by the end of this year.
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