Midstream - Storage
Enterprise Purchases Property to Expand Eagle Ford Oil Storage Facility
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Enterprise Products Partners L.P. (NYSE: EPD) announced today that it has purchased a 37-acre tract of land adjacent to its Enterprise Crude Houston (ECHO) crude oil terminal, which is currently under construction, in southeast Harris County. The acquisition will allow the partnership to increase its crude oil storage capacity at ECHO to approximately 6 million barrels. The ECHO facility is expected to begin service in the second quarter of 2012.
“This additional acreage builds on our plan to establish ECHO as the premier Gulf Coast delivery hub for growing North American crude oil production, providing shippers with the opportunity to maximize the value of their production,” said A.J. “Jim” Teague, executive vice president and chief operating officer of Enterprise’s general partner…
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