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Max Midstream Plans $1B Pipeline Project
Max Midstream acquired the Seahawk Pipeline and Terminal from Oaktree Capital at the Port of Calhoun, with plans for a pipeline that will connect the Port directly to both Eagle Ford and Permian Basins. Although acquisition terms weren’t disclosed, Max Midstream said it would invest up to $1 billion into the overall project.
The Houston-based energy company and the Calhoun Port Authority formed a public/private partnership. Max Midstream will invest $360 million to finance the deepening and widening of the Port by 2023.
“This is a great day not only for the Texas oil industry, but for the state as a whole, as more than 1,000 jobs will be created,” said Max Midstream president Todd Edwards. “At a time when the oil and gas market is down, this project and partnership reflects proof that Texas is bouncing back and will remain resilient in being the world’s leader in oil production.”
Rendering courtesy of Max Midstream.
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