EPIC Crude's Strategic Position in the Premium Corpus Christi Market Continues to Advance
Port of Corpus Christi completes Milestone Ship Channel Improvement Project
EPIC Crude Holdings, LP ("EPIC Crude" or "the Company") is excited that the Port of Corpus Christi has finalized their significant four-phase Channel Improvement Project ("CIP Project") that began in 2017. The CIP Project deepened the channel from 47 to 54 feet and widened the channel to 530 feet from 400 feet, all centered on accommodating the growing demand for larger vessels. The CIP Project was focused on expanding the waterways for larger vessels and two-way traffic while reducing overall transportation costs. This will allow the Port of Corpus Christi to enable more efficient transport of crude oil, liquefied natural gas and other commodities given its focus on exporting hydrocarbons.
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EPIC Crude is strategically positioned in Corpus Christi with its ability to access the two market-leading VLCC capable export facilities as well as local refineries and other export docks. EPIC Crude's goal is to provide its crude transportation customers with the greatest optionality for end market delivery in the most economic market, Corpus Christi.
Customers recognize EPIC Crude's differentiated strategy of providing equal access to all markets and premier docks in Corpus Christi and Ingleside, providing access to the Dated Brent market through the EPIC dock, and providing an opportunity to economically expand the pipeline to provide additional take-away capacity out of the Permian to the premium Corpus Christi market.
"Our long-term partnership with the Port of Corpus Christi has been tremendous given their focus on creating the premier energy export facility in the U.S.," said Brian Freed, Chief Executive Officer of EPIC. "The results of this work can be seen through our business success with EPIC Crude transporting more than 600,000 MBpd to the Corpus Christi market. At the end of the day, we are focused on providing safe and reliable crude oil transport out of the Delaware, Midland and Eagle Ford basins into the Corpus Christi market."
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 that extends from Orla, Texas to the Port of Corpus Christi and services the Midland, Delaware and Eagle Ford basins. The Crude Oil Pipeline is currently operating at a capacity of greater than 600,000 barrels per day (bpd) and has a maximum capacity of 1,000,000 bpd, as well as total operational storage of approximately 6,800,000 barrels. EPIC Crude includes terminals in Orla, Pecos, Saragosa, Crane, Wink, Midland, Helena and Gardendale, with Port of Corpus Christi connectivity and export access. EPIC Crude is a portfolio company of funds managed by the Private Equity Group of Ares Management as well as additional equity ownership by Kinetik Holdings Inc. (NYSE:KNTK) and Diamondback Energy (NASDAQ:FANG). For more information, visit www.epicmid.com.
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Media Contact:
EPIC Midstream Holdings, LP
Mike Garberding
Chief Financial Officer
(346) 231-1776
[email protected]