Martin Midstream Plans Eagle Ford Corpus Christi Terminal

Martin Midstream is adding a $25 million terminal at the Port of Corpus Christi that will have storage capacity of 300,000 barrels of oil and will be expandable to 600,000 barrels of oil.  The terminal will also have off loading capable of transferring the crude to oil tankers and barges.

“Martin Midstream Partners L.P. (Nasdaq:MMLP) (“MMLP” or the “Partnership”) announced the construction of a new terminal at the Port of Corpus Christi, Texas (the “Port”) to receive crude oil from the Eagle Ford shale via the recently announced Harvest Gardendale Pipeline.””As currently scheduled, the Partnership will construct over 300,000 barrels of crude oil storage at the new facility. In addition, the Partnership has the ability to expand the capacity of the terminal by an additional 600,000 barrels.”

“The total project cost is estimated at $25.0 million and is an anticipated to be in service by late 2011. Initial receipts of crude oil will arrive via truck until the Harvest Gardendale Pipeline becomes operational in the first half of 2012.”

“Ruben Martin, President and Chief Executive Officer of Martin Midstream GP LLC, MMLP’s general partner said, ‘We are pleased to announce additional Port of Corpus Christi infrastructure and a long-term terminalling agreement with a major integrated oil company. MMLP, with these new assets, will seek to meet terminalling demand from the growing Eagle Ford shale production. This new facility is well-positioned for significant fee-based cash flow growth as Eagle Ford activity continues to gain momentum.’ “

Read the complete press release at

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Kenneth E. DuBose

Kenneth E. DuBose

Kenneth DuBose is the past President of Cheyenne Minerals Inc., an independent oil and gas operator. He began his energy industry career with ARCO Oil & Gas. Mr. DuBose then directed development of natural gas storage projects with Tejas Power Corp. He was a founding member of U.S. Minerals, (acquired by Torch Energy in 1999) a provider of internet based education for America’s mineral owners. Mr. DuBose holds a BS in Petroleum Engineering from Mississippi State University. He has served on various industry steering committees, non-profit boards, and is an active member of the Society of Petroleum Engineers, the National Association of Royalty Owners, the American Association of Professional Landmen, as well as being a Registered Investment Advisor. He writes on topics of oil and gas investing, wealth management and personal finance, having appeared in the Wall Street Journal, Kiplinger’s, Kiplinger’s Personal Finance, Houston Business Journal, Financial Advisor and various radio and TV outlets.