A Locke Lord team led by Lauren Corbeil and Rachel Fitzgerald (both of Houston) represented GulfMark Energy, Inc., a crude oil marketing subsidiary of Adams Resources & Energy, Inc., and its wholly owned subsidiary, GulfMark Terminals, LLC, in the acquisition of the outstanding equity interests of Victoria Express Pipeline, L.L.C. ("VEX"), and related terminal assets from EnLink Midstream Operating, L.P. The VEX Pipeline System, which has a current capacity of 90,000 barrels per day and truck and storage terminals at both Cuero and the Port of Victoria, Texas, is a crude oil and condensate pipeline system connecting the heart of the Eagle Ford Basin to the Gulf Coast. The VEX Pipeline System includes 56 miles of 12-inch pipeline with 350,000 barrels of above ground storage, two eight-bay truck offload stations and access to two docks at the Port of Victoria. Additional assistance was provided by Terry Radney, John Arnold, Laura Ferguson, Jerry Higdon, Sara Longtain, Buddy Sanders, Max Stubbs, Michelle Gutierrez-Begin (all of Houston), Eugene McDermott (Providence), Tom Knight (Washington, D.C.), Mark Backofen (Dallas) and Megan Foscaldi (Boston).
Posted on October 28, 2020