Explorer Pipeline acquiring Citgo assets

Pipeline & Gas Journal, Oct, 2007

Citgo Petroleum Corp. has agreed to sell its Eagle pipeline and several terminals to Explorer Pipeline. According to The Wall Street Journal, the transaction is related to a market realignment initiative that the company announced last year when the Houston-based refiner said it would cut up to 2,000 of its branded gasoline stations in the Midwest, Kentucky, Oklahoma and northern Texas to focus on the East and Gulf Coast regions.

The Eagle pipeline, which runs 500 miles from Houston to Drumright, OK, connects with a pipeline system in an area that Citgo no longer supplies. The sale also includes terminals in Houston, Bryan, Waco, and Fort Worth. Explorer Pipeline will increase its pipeline network to 1,900 miles, said Dolan Argo, Director of Business Development for the Tulsa, OK company.