Now Exxon is acquiring a crude oil terminal that will serve the growing Delaware Basin located within the Permian Basin. Financial terms of the deal were not disclosed.

What should matter to investors of Exxon and to investors who are targeting the Permian Basin is that Exxon said this is its first terminal in the Permian Basin to be anchored by the corporation’s newly acquired (announced in January) Delaware Basin acreage.

That being said, Exxon’s market cap of $350 billion means that no single acquisition or asset sale is likely to make a meaningful difference in Exxon’s earnings individually.

Wednesday’s press release is said to establish Exxon as a key midstream provider in the rapidly growing Permian Basin and this crude oil terminal is permitted for 100,000 barrels per day of throughput. It is also said to have the ability to expand.

The terminal provides transportation and storage options for Permian Basin producers and is located in Wink, Texas.

The seller is listed by Exxon as Genesis Energy, L.P., a Houston-based master limited partnership with a $2.9 billion market value. Genesis has operations which are primarily focused in the Gulf Coast region, including Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida, Wyoming and in the Gulf of Mexico. The Wink, Texas terminal transports oil to Gulf Coast refineries and marine export terminals, and the facility is said to be interconnected to the Plains Alpha Crude Connector pipeline system.

Gerald Frey, president of Exxon Pipeline Company, said:

“The terminal provides crude producers with a full range of logistical options including truck, rail and inbound and outbound pipeline access, not only for ExxonMobil’s production, but for all Permian Basin producers. It also provides shippers with efficient and cost-effective access to market destinations in the Gulf region.”

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