Rangeland Energy Executes Operating Agreement with Strobel Strarostka Transfer for Bakken Terminal
Sugar Land, Texas - January 5, 2012 - Rangeland Energy, LLC announced today that the company has executed an operating agreement with Strobel Strarostka Transfer for rail operations at its crude oil hub in Williams County, N.D. Strobel has been in business for over 65 years and is recognized as a leader in designing, constructing and operating rail terminals for the energy industry.
Known as the COLT Hub and the COLT Connector, Rangeland’s terminal and pipeline facilities are expected to be in service by May 2012. Strategically located in the heart of the prolific Bakken and Three Forks shale areas, the COLT system will provide producers, marketers and refiners with North Dakota’s first open-access crude oil marketing hub.
Construction of the COLT Hub began in May 2011. With five 120,000-barrel storage tanks, an eight-bay truck station and two 8,700-foot rail loops, COLT will accommodate large 120-car unit trains and will be capable of moving more than 80,000 barrels per day by rail. Rangeland also provides pipeline services into and out of the Hub through its COLT Connector and other planned gathering lines. The Connecter is a 21-mile, 10-inch, bidirectional pipeline that will connect the COLT Hub to the Beaver Lodge/Ramberg junction and will be capable of transporting an additional 70,000 barrels per day. Rangeland is building an additional 120,000-barrel storage tank at Ramberg to facilitate these movements.
“Rangeland is pleased to have such an experienced and capable rail operator at our COLT Hub,” said Christopher W. Keene, Rangeland president and CEO. “To date, Rangeland has executed long-term contracts with three major customers. Strobel’s experienced team will ensure that we effectively service the requirements of these, and future, customers.”
“We’re very pleased to join forces with Rangeland as we continue to grow our position in North Dakota,” said Kevin Goins, Strobel president. “We look forward to operating Rangeland’s state-of-the-art rail facility and working with all COLT stakeholders to efficiently move Bakken crude out of North Dakota.”
About Rangeland Energy, LLC
Headquartered in Sugar Land, Texas, Rangeland Energy, LLC was formed in 2009 to focus on developing, acquiring, owning and operating infrastructure for crude oil, natural gas and natural gas liquids. The company’s primary focus has been in North Dakota and other growing oil and gas shale producing areas. The Rangeland team represents more than 100 years of combined midstream experience and is backed by an equity commitment from EnCap Flatrock Midstream.
About Strobel Starostka Transfer
Headquartered in Clarks, Nebraska, Strobel Starostka Transfer was formed in 1946 as Strobel Blacksmith and then becoming Strobel Industries, Inc in 1969. The company’s primary focus has been designing, constructing and operating rail transloading facilities for various industries, including energy.
For Rangeland Energy