CIG Logistics, an oil and gas logistics provider, has acquired a 330-acre rail facility in Odessa, Texas, from Flint Hills Resources. The purchase price and terms of the acquisition, which closed on Sept. 29, were undisclosed.
The Odessa facility is a logistics hub for the energy industry that plays a role in the movement of crude oil and frac sand via rail and truck to and from the Permian Basin. The large-scale facility is served directly by the Union Pacific Railroad and has 29,000 feet of track including two unit train loop tracks and 10 ladder tracks.
With the acquisition, CIG Logistics will strengthen its core business of transloading energy-related products, and the terminal's substantial size, railcar capacity, and location will enable the company to expand its logistics services to additional industries, which will include the construction, aggregate, chemical, and automotive sectors.
The site has the ability to load unit trains of crude oil and unload other bulk products. The Odessa terminal adds to CIG Logistics' expanding network and is the company's eighth transloading and storage facility located throughout Texas and New Mexico.