Pin Oak initiated construction on a petroleum and chemicals storage terminal called Pin Oak Terminals located in Mt. Airy, Louisiana that is expected to be operational by June 2017. With this investment, the Company will be able to build an independent logistics hub as well as acquire and develop additional midstream assets in North America.

“This investment from Dauphine and Mercuria represents a strategic milestone for Pin Oak that provides the necessary capital to build and grow our first terminal while looking to expand into other areas,” said Mike Reed, Chief Executive Officer of Pin Oak. “Together with our equity partners, Dauphine and Mercuria, we will be constructing and operating a terminalling business that will meet customer and industry needs as an independent midstream company. We will provide all our customers with premier services on the Eastern Gulf Coast while adhering to the highest safety and environmental standards. Pin Oak will be a key hub and will add much needed storage and logistics capabilities to help meet the rising market demand of one the largest refining and producing complexes in the world.”

“As the original sponsor of the Company we found an excellent partner to build out Pin Oak’s terminalling business,” said Harris Ziskroit, Chief Investment Officer of Dauphine. “The entire Pin Oak team is focused on not only working with its equity partners but also with the residential community of St. John the Baptist Parish, the Port of South Louisiana, and the St. John the Baptist government to ensure the project is a success on every level.”

This investment closely aligns with Mercuria’s commitment to innovative solutions for small to medium energy firms in North America. Mercuria continues to expand its relationships with local firms to ensure volume flow and access to competitive markets. “This is a significant U.S. terminal company investment and we are confident that Pin Oak will build an independent, world-class company to meet the market’s needs,” said Brian Falik, Chief Investment Officer of Mercuria. “We believe the Lower Mississippi River will continue to grow in importance in the U.S. commodity landscape, and we look forward to our partnership with a top quality operator like Pin Oak.”