CASPER, Wyo.--(EON: Enhanced Online News)--CTRAN, LLC, a Granite Peak Development/BDW Company (“CTRAN”), Cogent Energy Solutions, LLC (“Cogent”) and Stonepeak Infrastructure Partners (“Stonepeak”) announced today that all permits, funding and customers have been secured to begin construction on the new Casper Crude to Rail Terminal (“CCR”) adjacent to the Casper Natrona County International Airport. “CCR will provide our customers an efficient, long-term strategy for moving crude oil to their market destinations,” said Randy Balhorn, Lead Manager of CCR.
“Cogent and Granite Peak are a great team and we are delighted to be their equity partner. This investment is consistent with our strategy of partnering with high quality teams to fund strategically important infrastructure assets.”
The Terminal will be connected to Spectra Energy’s Express Pipeline, will be served by the BNSF Railway and will allow for unit train and manifest loading of both heavy and light crude oil, as well as onsite blending. Additionally, it will offer both fungible and dedicated tank storage with initial storage capacity of 750,000 barrels of crude oil and has expansion capacity to as much as 2 million barrels. Construction of the new Terminal began the week of September 20th, 2013 with final completion scheduled for late spring 2014. "Rail provides producers with the flexibility to transport their crude oil to the optimal destination market. BNSF is pleased to be a part of the continued expansion of crude-by-rail," said Dave Garin, BNSF Group Vice President, Industrial Products. "We are excited to see the Casper Crude to Rail Terminal project move forward with this outstanding collaboration between Cogent and Granite Peak to bring additional crude loading capacity to Wyoming."
Through the support of the Wyoming Business Council, Casper Area Economic Development Alliance, Casper Natrona County International Airport, Natrona County, WYDOT and the City of Casper, this project will be served by public utilities, improved highways, upgraded power and other infrastructure.
Michael Dorrell, Senior Managing Director of Stonepeak, commented: “Cogent and Granite Peak are a great team and we are delighted to be their equity partner. This investment is consistent with our strategy of partnering with high quality teams to fund strategically important infrastructure assets.”
Contact information: Steve Magness, at CCR, (405) 535-6077.
About CTRAN, LLC
CTRAN owns over 700 acres of industrial land strategically positioned next to the Casper/Natrona County International Airport. The land is BNSF served and sits in the Foreign Trade Zone. The facility is operated by Bighorn Divide & Wyoming Railroad, Inc. CTRAN is based in Casper, WY.
About Cogent Energy Solutions, LLC
Cogent was founded in 2008 to focus on midstream opportunities in the US and Canada. In addition to CCR, Cogent owns and operates Cheyenne Rail Hub, LLC with Granite Peak in Cheyenne, WY., has joint ventures with affiliates to provide customers with crude oil services such as marketing, transloading and transportation of crude oil and petroleum products. Cogent also manages the Bakken Oil Express Rail Hub in Dickinson, ND. Cogent is based in Houston, TX.
About Stonepeak Infrastructure Partners
Stonepeak Infrastructure Partners is an independent investment firm focused on US & Canadian middle-market infrastructure. Stonepeak invests in strategically important infrastructure assets within the energy, power, water, renewables and transport sectors. Stonepeak was formerly the infrastructure investment arm of Blackstone. Stonepeak is based in NY.
About BNSF Railway
BNSF Railway is one of North America’s leading freight transportation companies operating on 32,500 route miles of track in 28 states and two Canadian provinces. BNSF is one of the top transporters of consumer goods, grain and agricultural products, low-sulfur coal, and industrial goods such as petroleum, chemicals, housing materials, food and beverages. BNSF’s shipments help feed, clothe, supply, and power American homes and businesses every day. BNSF and its employees have developed one of the most technologically advanced, and efficient railroads in the industry. We work continuously to improve the value of the safety, service, energy, and environmental benefits we provide to our customers and the communities we serve. You can learn more about BNSF at www.BNSF.com.