TexStar Midstream Services LP has acquired Tierra Pipeline LP from The Tierra Companies, and the companies said they have tentatively agreed on the sale of trucking operator Tierra Transportation to Black Creek Well Services, a TexStar sister company, with closing expected by July 1.
"As we have always known, both the Tierra Pipeline and Tierra Transportation assets are strategically located in Central Texas. A multi-line right-of-way that extends from San Antonio to Corpus Christi and intersects the heart of the Eagle Ford Shale has proven to be a unique asset. I'm delighted that we have found the perfect buyer in TexStar Midstream Services, who can push the assets to the next level," said Glen Gonzalez, CEO of The Tierra Companies.
"The deal between The Tierra Companies and TexStar Midstream/Black Creek is the realization of our vision for the Tierra assets: integrated midstream services within the Eagle Ford Shale."
There are no plans to change the Tierra business model. The trucking assets will continue to service the same customer base with the same personnel, the company said.
The Tierra Pipeline assets included in the transaction are a multi-line right-of-way and a 140-mile crude oil pipeline that extends from San Antonio to "refinery row" in Corpus Christi, TX. It consists of one four-inch diameter section spanning 123 miles from San Antonio to Odem, TX, and one six-inch diameter section spanning 17 miles from Odem to Corpus Christi.