January 4, 2024 [Globe Newswrie]- U.S. Energy™, a leading provider of refined products, alternative fuels, and environmental credits, acquired two refined product terminals in Mount Prospect and Rockford, Illinois.
With the addition of these facilities, U.S. Energy now owns and operates 37 terminals across nine states with a collective storage capacity of over eight million barrels. The Mount Prospect and Rockford facilities contribute 380,000 and 320,000 barrels of storage, respectively.
“This acquisition complements our existing footprint in the Midwest,” shared Josh Hermus, vice president of business development at U.S. Energy. “While we already have a presence in Illinois from a renewable natural gas development and distribution standpoint, these terminals are our first owned and operated refined product assets in the state—allowing us to better serve our customers and partners in PADD 2 markets.”
Each terminal is fed by pipeline with Mount Prospect receiving product from the West Shore pipeline (which also feeds the company’s Milwaukee terminals), and Rockford receiving product from the Badger pipeline (which also feeds the company’s Madison terminals).
“We are excited to welcome four legacy employees from these facilities to the U.S. Energy team,” shared Dan Morrill, vice president of operations at U.S. Energy. “Across our terminal network, we pride ourselves on our customer service, safety record, site uptime, and throughput turnaround. We are confident these team members will help us replicate this at our new locations.”
Vertically integrated across the energy supply chain, U.S. Energy is positioned to help wholesale, retail, and commercial customers store, market, and receive product through its network of 37 owned and operated terminals. Combining its in-house trading floor, multimodal logistics capabilities, and nationwide supply network, U.S. Energy is helping organizations solve for their supply needs.
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