Easton Energy Announces Enhancement of Storage Rights at Markham, TX
HOUSTON, June 15, 2020 /PRNewswire/ — Easton Energy LLC (“Easton” or the “Company”), a Houston based midstream company, today announced the expansion of Easton’s rights to store Natural Gas Liquids (“NGLs”) and Olefins in the existing salt caverns at Markham, TX with the addition of Crude Oil rights.
The Markham, TX salt dome has been an operational storage location for multiple NGL and olefin related businesses for over 40 years and has associated and supporting pipelines running through the facility and area. The Markham salt dome is a strategic balancing point in between petrochemical markets in Houston and Corpus Christi and is positioned to support crude Oil export growth in between the Freeport, TX and Corpus Christi, TX markets.
Easton President and CEO, Joel McComas stated, “We’re pleased to expand our relationship with Texas Brine Company, LLC through its subsidiary at Markham and to add the ability to store crude oil in the Markham salt dome. The combination of expanding our NGL and olefin storage rights with the addition of crude Oil storage, we believe, continues to make Markham a premium location for our customers to optimize their respective businesses. Further, as a function of our great working relationship with our sister company, Sentinel Midstream, we’ve been fortunate to develop a series of supporting pipeline and storage opportunities in the Gulf Coast crude Oil markets around Markham, TX largely driven by our brine pond development and the remaining 40mbbls of storage capacity.”
Texas Brine CEO Ted Grabowski stated, “We’re pleased to support Easton in the development of the Markham salt dome as a storage hub connecting several key markets. Markham is a strategic location with great potential for more storage development. We wish them continued success for many years to come.“
About Easton Energy LLC
Easton Energy is a Houston based midstream company focused on developing infrastructure assets that support the transportation, storage, and processing of natural gas liquids (NGL), refined products, and petrochemicals. Easton’s primary assets include liquid hydrocarbon salt cavern storage facilities at Markham, TX and approximately 416 miles of product distribution pipelines that connect key product markets along the Texas and Louisiana Gulf Coast. Easton Energy is backed by Cresta Fund Management, a middle-market focused infrastructure firm focused on investing in hard assets that transport, store, process or sequester basic materials. For more information, please visit: www.easton.energy
About Texas Brine Company, LLC
Texas Brine, together with its wholly-owned subsidiaries, is the largest independent brine producer in the United States, supplying over 30 percent of the brine requirements of the chlor-alkali industry. Its underground caverns, developed through brine production, are designed to meet the storage needs for a wide variety of gas and liquid products. For more information, please visit texasbrine.com.
Contact
Easton Energy LLC, Tyler Wharton, TWharton@easton.energy
Texas Brine Company, LLC, Brain Rapp, BRapp@texasbrine.com
SOURCE Easton Energy LLC
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