Tuesday, December 29, 2020
Howard Energy Partners (San Antonio, Texas) revealed Dec. 29 that it has executed an agreement with a subsidiary of MPLX LP to purchase the Javelina Facility located in Corpus Christi, Texas. Javelina is a treating and fractionation plant that extracts olefins, hydrogen, and natural gas liquids (NGLs) from the gas streams produced by local refineries, creating purity products that are then sold to local markets on behalf of its refiner-customers.
“The Javelina facility is a multi-generational asset linked to stable, demand-driven refinery activity, further supporting our long-term growth strategy and diversification into new services and markets,” said Howard Energy Partners chairman and CEO, Mike Howard. “We are very excited to broaden our existing footprint in the Corpus Christi market, and look forward to welcoming Javelina’s great team of employees that has been safely and efficiently running the facility for several years. We will continue to provide world class service to Javelina’s long-term customers.”
The Javelina facility has a long history of reliably producing a wide range of product streams including hydrogen, ethylene, ethane, propylene, propane, mixed butane, and other pentanes+ for use in the energy and petrochemical markets. Javelina is connected by pipeline to all of the major refineries in the Corpus Christi area and provides a critical service to help ensure the refineries’ productive capabilities. Additionally, excess capacity at the facility provides the opportunity for growth in the future.
Howard Energy Partners expects to close the acquisition in early 2021.
SOURCE: The Weekly Propane Newsletter, December 30, 2020. Weekly Propane Newsletter subscribers receive all the latest posted and spot prices from major terminals and refineries around the U.S. delivered to inboxes every week. Receive a center spread of posted prices with hundreds of postings updated each week, along with market analysis, insightful commentary, and much more not found elsewhere.
“The Javelina facility is a multi-generational asset linked to stable, demand-driven refinery activity, further supporting our long-term growth strategy and diversification into new services and markets,” said Howard Energy Partners chairman and CEO, Mike Howard. “We are very excited to broaden our existing footprint in the Corpus Christi market, and look forward to welcoming Javelina’s great team of employees that has been safely and efficiently running the facility for several years. We will continue to provide world class service to Javelina’s long-term customers.”
The Javelina facility has a long history of reliably producing a wide range of product streams including hydrogen, ethylene, ethane, propylene, propane, mixed butane, and other pentanes+ for use in the energy and petrochemical markets. Javelina is connected by pipeline to all of the major refineries in the Corpus Christi area and provides a critical service to help ensure the refineries’ productive capabilities. Additionally, excess capacity at the facility provides the opportunity for growth in the future.
Howard Energy Partners expects to close the acquisition in early 2021.
SOURCE: The Weekly Propane Newsletter, December 30, 2020. Weekly Propane Newsletter subscribers receive all the latest posted and spot prices from major terminals and refineries around the U.S. delivered to inboxes every week. Receive a center spread of posted prices with hundreds of postings updated each week, along with market analysis, insightful commentary, and much more not found elsewhere.
