We are a Delaware limited partnership formed in September 2010. Subsequent to
our initial public offering (“IPO”) in May 2011, we significantly
expanded our operations through numerous acquisitions. Our operations include:
Our Crude Oil Logistics segment purchases crude oil from producers and transports
it to refineries or for resale at pipeline injection stations, storage terminals,
barge loading facilities, rail facilities, refineries, and other trade hubs.
Our Water Solutions segment provides services for the treatment and disposal
of wastewater generated from crude oil and natural gas production and for the
disposal of solids such as tank bottoms and drilling fluids and performs truck
and frac tank washouts. In addition, our Water Solutions segment sells the recovered
hydrocarbons that result from performing these services.
Our Liquids segment supplies natural gas liquids to retailers, wholesalers,
refiners, and petrochemical plants throughout the United States and in Canada
using its leased underground storage and fleet of leased railcars, markets regionally
through its 21 owned terminals throughout the United States, and provides terminaling
and storage services at its salt dome storage facility in Utah.
Our Retail Propane segment sells propane, distillates, equipment and supplies
to end users consisting of residential, agricultural, commercial, and industrial
customers and to certain resellers in 30 states and the District of Columbia.
Our Refined Products and Renewables segment conducts gasoline, diesel, ethanol,
and biodiesel marketing operations, purchases refined petroleum and renewable
products primarily in the Gulf Coast, Southeast and Midwest regions of the United
States and schedules them for delivery at various locations throughout the country.
Overview. Our Crude Oil Logistics segment purchases crude oil from producers
and transports it to refineries or for resale at pipeline injection stations,
storage terminals, barge loading facilities, rail facilities, refineries, and
other trade hubs. We also lease space and capacity in our owned assets, such
as storage tanks, pipelines, trucks, barges, and railcars, to third parties
for a fee. Our operations are centered near areas of high crude oil production,
such as the Bakken shale play in North Dakota, the DJ Basin in Colorado, the
Permian Basin in Texas and New Mexico, the Eagle Ford shale play in Texas, the
Anadarko Basin, including the STACK, SCOOP, Granite Wash and Mississippi Lime
plays in Oklahoma and Texas, and southern Louisiana at the Gulf of Mexico.
We own a 550-mile pipeline that transports crude oil from its origin in Colorado
to Cushing, Oklahoma (the “Grand Mesa Pipeline”). Grand Mesa Pipeline
commenced operations on November 1, 2016, and the main line portion of this
pipe is comprised of a 37.5% undivided interest in a crude oil pipeline jointly
owned with Saddlehorn Pipeline Company, LLC (“Saddlehorn”) where
we have the right to utilize 150,000 barrels per day of capacity. During the
period from November 1, 2016 through March 31, 2017, there were approximately
42,000 barrels per day transported on the Grand Mesa Pipeline. Operating costs
are allocated to us based on our proportionate ownership interest and throughput.
We also own 970,000 barrels of operational tankage related to the Grand Mesa
Pipeline.
Through our undivided interest in the Grand Mesa Pipeline, we have capacity
sufficient to service our customer contracts at the same origin and termination
points with the ability to accept additional volume commitments. We retained
ownership of our previously-acquired easements for the potential future development
of transportation projects involving petroleum commodities other than crude
oil and condensate. With the consent and participation of Saddlehorn, we and
Saddlehorn may consider future opportunities using these easements for projects
involving the transportation of crude oil and condensate.
Operations. We purchase crude oil from producers and transport it to refineries
or for resale. Our strategically deployed railcar fleet, towboats, barges, and
trucks, and our owned and contracted pipeline capacity, provide access to a
wide range of customers and markets. We use this expansive network of transportation
assets to deliver crude oil to the optimal markets.
Our Water Solutions segment provides services for the treatment and disposal
of wastewater generated from crude oil and natural gas production and for the
disposal of solids such as tank bottoms and drilling fluids and performs truck
and frac tank washouts. In addition, our Water Solutions segment sells the recovered
hydrocarbons that result from performing these services. Our water processing
facilities are strategically located near areas of high crude oil and natural
gas production, including the Permian Basin in Texas and New Mexico, the DJ
Basin in Colorado, the Eagle Ford shale play in Texas, the Bakken shale play
in North Dakota, and the Pinedale Anticline in Wyoming.
Our Liquids segment provides natural gas liquids procurement, storage, transportation,
and supply services to customers through assets owned by us and third parties.
Our Liquids business supplies the majority of the propane for our Retail Propane
business as well as other retail propane businesses. We also sell butanes and
natural gasolines to refiners and producers for use as blending stocks and diluent
and assist refineries by managing their seasonal butane supply needs.
Our Retail Propane segment consists of the retail marketing, sale and distribution
of propane and distillates, including the sale and lease of propane tanks, equipment
and supplies, to more than 350,000 residential, agricultural, commercial and
industrial customers. We also sell propane to certain resellers. We purchase
the majority of the propane sold in our Retail Propane business from our Liquids
business, which provides our Retail Propane business with a stable and secure
supply of propane.
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