April 2, 2015 [OPIS] - EnLink Midstream Partners said on Wednesday that it has completed the previously announced acquisition of the Victoria Express Pipeline and related truck terminal and storage assets (VEX) from Devon Energy Corp.
The transaction is expected to be immediately accretive to the EnLink.
The VEX pipeline is a 56-mile multigrade crude oil pipeline with a current capacity of approximately 50,000 b/d and, following completion of currently underway expansion projects, will have capacity of approximately 90,000 b/d.
The 12-inch VEX pipeline delivers crude from the Blackhawk central delivery point in DeWitt County, Texas, to the inlet of Devon Gas Services’ terminal at the Port of Victoria. This pipeline is located in the Eagle Ford Shale play in South Texas.
Other VEX assets at the destination of the pipeline include an eight-bay truck unloading terminal, 200,000 bbl of above-ground storage, of which 50,000 bbl are under construction, and rights to barge loading docks.
Also included in the transaction are facilities near the origin of the pipeline that are currently under construction, including an eight-bay truck unloading terminal and 160,000 bbl of above-ground storage.
