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Exxon acquires Permian crude oil terminal from Genesis Energy

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Exxon acquires Permian crude oil terminal from Genesis Energy

International oil and gas giant Exxon Mobil Corp. on Oct. 18 said it bought a crude oil terminal in the Permian Basin from Genesis Energy LP that will be anchored by production from its newly acquired Delaware Basin acreage.

Located in Wink, Texas, the terminal is permitted for 100,000 barrels per day of throughput and has the ability to be expanded further, the company said in an Oct. 18 news release.

The facility is interconnected to the Plains All American Pipeline LP Alpha Crude Connector pipeline system and is positioned to handle Permian Basin crude oil and condensate for transport to Gulf Coast refineries and marine export terminals.