Wichita, KS (PRWEB) September 02, 2011
Lario Logistics Opening Crude-by-Rail Unit Train Facility in North Dakota
Eighty-Eight Oil is Anchor Shipper at “Bakken Oil Express” Rail Hub
Lario Logistics LLC announced today that its subsidiary, Bakken Oil Express LLC (BOE), will complete in September The Bakken Oil Express Rail Hub, the first multiple shipper unit train loading operation in North Dakota. Lario also announced that BOE has executed a long-term anchor shipper agreement with Eighty-Eight Oil LLC for transloading crude oil at the BOE facility. Lario acquired the facility then owned by EDOG Logistics in the 4th quarter of 2010 and has managed the accelerated development of the expanded facilities, which will receive crude oil via pipelines and trucks for the loading of unit trains for further transportation to out of state markets.
Bakken Oil Express is strategically located west of Dickinson, ND, on the BNSF mainline within the Three Forks shale oil play and in close proximity to pipelines originating from the heart of the Bakken shale oil play. In September, 2011, the BOE Rail Hub will be connected to an existing regional oil pipeline and will accept first truck deliveries. At startup, BOE facilities will include 2 rail loops, each approximately 8,000 feet long, 210,000 barrels of tankage, and a “Truck Center” with 6 independent bays and room for expansion. Initial take away capacity will be more than 100,000 BOPD. With this large capacity and plans in place to add additional loops, tanks, rail loading racks and pipeline connections, throughput can be expanded to more than 250,000 BOPD.
“Eighty-Eight congratulates Bakken Oil Express for their efforts in the concept, design and tenacity in getting to the finish line for this project and is excited about the opportunity to work with BNSF and the Bakken Oil Express Rail Hub”, said Jerry Herz, Superintendent of Eighty-Eight. He went on to say that “We are looking forward to moving additional volumes of North Dakota crude oil by rail that will provide access to alternate markets for our customers.”
”We are very excited about working with Eighty-Eight, one of the oldest and most respected crude marketers in North Dakota,” said Steve Magness, Managing Director of BOE and former Director of Supply and Trading for Musket Corporation. He added, "We see the BOE Rail Hub as a strategic asset for the Industry as crude oil production continues its strong growth over the next few years; and Eighty-Eight is a very strong anchor for our facility.”
About Lario Logistics LLC: Lario Logistics LLC is a member of The Globe Resources Group of Companies which developed several international oil & gas projects over the past two decades, including the first energy service joint venture in Russia during the perestroika age and other oil service projects for LUKOIL in Russia in the 1990’s, as well as the co-founding and development of Geo-Park (GPK.L), the first and largest private sector E&P company operating in Chile.
About Eighty-Eight Oil LLC: Eighty-Eight Oil LLC is a crude oil marketing and logistics company within True companies of Casper, WY. The True companies are family owned and operated companies within Wyoming, Colorado, Montana, North Dakota, Utah, Texas, Louisiana, Mississippi, New Mexico, Pennsylvania, Oklahoma and Arizona. Eighty-Eight was established in 1963 and is a marketing and logistics company which buys and sells crude oil in the Rocky Mountain Region, currently marketing crude in Colorado, Illinois, Montana, North Dakota, Oklahoma, Wyoming and several other states.
Bakken Oil Express: http://www.bakkenoilexpress.com
Media contact: info(at)bakkenoilexpress(dot)com / (316) 630-0287