CP Energy partners with Barcas Pipeline Ventures on Cushing tank facility
EDMOND, OK -- CP Energy, a privately owned midstream energy company, announced it has partnered with Barcas Pipeline Ventures, LLC (“BPV”) in a project that will result in a significant increase in CP Energy’s delivery, blending and tank capacity at Cushing, Oklahoma.
BPV is constructing a 700,000 barrel crude oil tank farm on 10 acres at Cushing. All four tanks are slated to be completed in January 2016. The partnership is between BPV and a new subsidiary, CP Energy Cushing, which is a wholly owned subsidiary of CP Energy Holdings. The project allows CP Energy direct access to several key terminals at Cushing, as well as indirect access to other major company terminals and interconnects at Cushing, including TransCanada (Market Link).
BPV is known for its depth of midstream and upstream experience, from crude oil tanks and related gathering, transport and marketing services to the drilling and production segments of the energy industry. BPV previously constructed and operated a 4,250,000 barrel, 70-acre tank farm at Cushing, Oklahoma, in partnership with Magellan Crude Oil.
“This partnership with BPV continues to build on the steps CP Energy is taking to increase the delivery, blending and tank capacity and capability we can provide to our customers,” said Greg Piper, CP Energy President and Chief Executive Officer.
Founded in 1997, CP Energy is a midstream company that provides of services across Texas, Oklahoma, Kansas, New Mexico and Colorado. Customers include oil and gas producers, pipelines, marketers, midstream companies and refiners. CP Energy is focused on providing market-responsive pricing, flexible transportation and logistics solutions and safe, reliable service that is tailored to meet specific customer needs.