Valero (NYSE:VLI)
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From Jul 2019 to Jul 2024
Valero L.P. (NYSE:VLI) today announced that it has successfully
completed the purchase of the St. James Crude Oil facility located in
Louisiana from Koch Supply and Trading, L.P. for $140 million. The
acquisition will be financed with a borrowing under the partnership’s
revolving credit facility.
The acquisition includes 17 crude oil tanks and three heated refined
product tanks with a total capacity of approximately 3.3 million
barrels. Additionally, the facility has a rail-loading facility and
three docks with barge and ship access. The facility is located on
approximately 220 acres of land on the west bank of the Mississippi
River approximately 60 miles west of New Orleans and has an additional
585 acres of undeveloped land. As previously mentioned, the acquisition
is expected to be immediately accretive to the partnership’s
distributable cash flow per unit.
“We’re excited that
we’ve completed the acquisition of the St.
James facility, which we believe is a strategic fit with our existing
terminal business and will provide excellent growth opportunities,”
said Curt Anastasio, President and CEO of Valero L.P. “We
look forward to starting several major expansion projects we have
planned for this facility in the near future.”
Valero L.P. is a publicly traded, limited partnership based in San
Antonio, with 9,303 miles of pipeline, 86 terminal facilities and four
crude oil storage facilities. One of the largest independent terminal
and petroleum liquids pipeline operators in the nation, the partnership
has operations in the United States, the Netherlands Antilles, Canada,
Mexico, the Netherlands and the United Kingdom. The partnership’s
combined system has approximately 77 million barrels of storage
capacity, and includes crude oil and refined product pipelines, refined
product terminals, a petroleum and specialty liquids storage and
terminaling business, as well as crude oil storage tank facilities. For
more information, visit Valero L.P.'s website at www.valerolp.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking statements within the
meaning of the Securities Litigation Reform Act of 1995 regarding future
events and the future financial performance of Valero L.P. All
forward-looking statements are based on the partnership's beliefs as
well as assumptions made by and information currently available to the
partnership. These statements reflect the partnership's current views
with respect to future events and are subject to various risks,
uncertainties and assumptions. These risks, uncertainties and
assumptions are discussed in Valero L.P.'s 2005 annual report on Form
10-K and subsequent filings with the Securities and Exchange Commission.
Valero L.P. (NYSE:VLI) today announced that it has successfully
completed the purchase of the St. James Crude Oil facility located in
Louisiana from Koch Supply and Trading, L.P. for $140 million. The
acquisition will be financed with a borrowing under the partnership's
revolving credit facility.
The acquisition includes 17 crude oil tanks and three heated
refined product tanks with a total capacity of approximately 3.3
million barrels. Additionally, the facility has a rail-loading
facility and three docks with barge and ship access. The facility is
located on approximately 220 acres of land on the west bank of the
Mississippi River approximately 60 miles west of New Orleans and has
an additional 585 acres of undeveloped land. As previously mentioned,
the acquisition is expected to be immediately accretive to the
partnership's distributable cash flow per unit.
"We're excited that we've completed the acquisition of the St.
James facility, which we believe is a strategic fit with our existing
terminal business and will provide excellent growth opportunities,"
said Curt Anastasio, President and CEO of Valero L.P. "We look forward
to starting several major expansion projects we have planned for this
facility in the near future."
Valero L.P. is a publicly traded, limited partnership based in San
Antonio, with 9,303 miles of pipeline, 86 terminal facilities and four
crude oil storage facilities. One of the largest independent terminal
and petroleum liquids pipeline operators in the nation, the
partnership has operations in the United States, the Netherlands
Antilles, Canada, Mexico, the Netherlands and the United Kingdom. The
partnership's combined system has approximately 77 million barrels of
storage capacity, and includes crude oil and refined product
pipelines, refined product terminals, a petroleum and specialty
liquids storage and terminaling business, as well as crude oil storage
tank facilities. For more information, visit Valero L.P.'s website at
www.valerolp.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking statements within the
meaning of the Securities Litigation Reform Act of 1995 regarding
future events and the future financial performance of Valero L.P. All
forward-looking statements are based on the partnership's beliefs as
well as assumptions made by and information currently available to the
partnership. These statements reflect the partnership's current views
with respect to future events and are subject to various risks,
uncertainties and assumptions. These risks, uncertainties and
assumptions are discussed in Valero L.P.'s 2005 annual report on Form
10-K and subsequent filings with the Securities and Exchange
Commission.