SAN ANTONIO, TX – EPIC Crude Holdings, LP is pleased to announce that one of its subsidiaries has loaded and launched the first shipment of crude oil from the IGC marine terminal located on the Inner Harbor of the Corpus Christi Ship Channel. The IGC terminal, formerly the International Grain Port Terminal, was repurposed by EPIC beginning in June 2019 to enable it to export crude oil while EPIC’s larger export terminal is still under construction.
“EPIC’s ability to provide crude oil transport out of the Delaware and Eagle Ford Basins and onto export vessels is strategic both for the Company and for continued upstream development within the two basins,” said Brian Freed, President of EPIC. “I would like to thank our employees, customers and contractors who have enabled us to provide this vital export service.”
Once completed, EPIC’s marine terminal will consist of two separate dock facilities: the West Dock and the East Dock. The West Dock, IGC, is currently in service and can load up to Aframax-sized tankers (capable of transporting up to 750,000 barrels) at a maximum loading rate of 20,000 barrels per hour. The East Dock, located adjacent to the West Dock, is a greenfield dock facility that will load up to Suezmax-sized tankers (capable of transporting up to 1,000,000 barrels) at a maximum loading rate of 40,000 barrels per hour. EPIC expects the East Dock to commence operations in the third quarter of 2020.
About EPIC Crude Holdings, LP
EPIC Crude Holdings, LP (“EPIC Crude”) was formed in 2017 to build and operate the EPIC Crude Oil Pipeline, a 700-mile, 30” crude oil pipeline which will extend from Orla, Texas to the Port of Corpus Christi, Texas, servicing the Delaware, Midland and Eagle Ford Basins. The mainline is expected to be complete in January 2020 and will have an initial capacity of 600,000 barrels of oil per day, with throughput anticipated to begin ramping up during the first quarter of 2020. EPIC Crude will have approximately 7.5 MM barrels of storage across the system. EPIC Crude is backed by capital commitments from funds managed by the Private Equity Group of Ares Management Corporation (NYSE: ARES) as well as additional equity ownership by Noble Midstream Partners, L.P. (NYSE: NBLX), Altus Midstream Company (NASDAQ: ALTM) and Rattler Midstream LP (NASDAQ: RTLR). For more information, visit www.epicmid.com.
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