Service Begins at Rangeland Energy's Crude Oil Loading Terminal in North Dakota's Bakken Shale
Sugar Land, Texas – June 11, 2012 – Rangeland Energy, LLC announced today that the company’s COLT facility is in service in North Dakota’s Bakken Shale. COLT is North Dakota’s largest, open-access crude oil marketing terminal. Strategically located in the heart of the prolific Bakken and Three Forks shale oil producing areas, the COLT terminal provides refiners, marketers and producers with outbound service by unit train and through the COLT Connector, a 21-mile, bidirectional pipeline that links the COLT terminal with multiple existing and planned pipelines at Rangeland’s Dry Fork Terminal near Tioga, N.D., including the Tesoro and Enbridge pipeline systems.
The COLT Hub aggregates crude oil produced in the Bakken utilizing gathering pipelines and trucks. COLT offers crude oil handling and storage service through on-site tankage and access to multiple downstream markets through the COLT Connector and railcar loading facilities. Served by BNSF Railway Company, the COLT Hub loads unit-train shipments of crude oil bound for markets throughout North America, including crude oil receiving terminals along the Gulf Coast. The first unit train filled with crude oil departed the COLT facility on June 5.
COLT’s initial 720 MBL (thousands of barrels) of working storage capacity is expected to expand as Bakken production increases. COLT’s current tankage position includes five 120 MBL storage tanks located at the COLT Hub and an additional 120 MBL storage tank at the Dry Fork terminal. Initial rail export capacity is 120 MBD (thousands of barrels per day). In addition, the COLT Connector has the capacity to move an additional 75 MBD.
“The market’s response to COLT has been outstanding. With four large crude oil refiners and marketers as anchor customers, along with upstream and downstream connectivity by pipeline and rail, the COLT Hub will create a point of liquidity for Bakken crude oil production by bringing together multiple buyers and sellers at the terminal. Furthermore, COLT will offer our customers the ability to effectively manage their crude oil supply and provide connectivity to multiple refining centers and other markets,” said Rangeland President and CEO Christopher Keene. “The COLT system is well positioned to grow with the industry in this prolific region. We look forward to providing competitive services to all qualified crude oil shippers in the region.”
About Rangeland Energy, LLC
Headquartered in Sugar Land, Texas, Rangeland Energy, LLC was formed in 2009 to focus on developing, acquiring, owning and operating midstream 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 the EnCap Flatrock Midstream of San Antonio. For more information please visit www.rgldenergy.com.