SemCrude to build additional crude oil storage at Cushing facility

Source: SemCrude

SemCrude L.P., a subsidiary of SemGroup Corporation (NYSE: SEMG), announced that through a contract with Matrix Services Co., the company will build 1.95 million barrels of additional crude oil storage at its Cushing, OK terminal. 

The project will include seven 250,000 barrel crude oil tanks and two 100,000 barrel crude oil tanks. Upon completion, SemCrude’s total storage capacity in Cushing will be seven million barrels of crude oil. The new tanks will be leased to three customers and is expected to be completed mid-year 2012. Carl Karner will be the project manager for SemCrude. 

“Despite all the newly constructed tanks in Cushing a significant demand continues for additional storage,” said Pete Schwiering, president of SemCrude. “This demand is enhanced by increased deliveries of Canadian crude and the pending expansion of White Cliffs Pipeline.” 

Cushing is the site at which White Cliffs Pipeline terminates. Owned and operated by SemCrude, White Cliffs Pipeline is the only pipeline that moves crude oil out of the Denver-Julesburg Basin directly to Cushing.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs