Baker Botts represented Moda Midstream in acquisition of Oxy Ingleside Energy Center Terminal from Occidental Petroleum
Liquids terminaling and logistics provider Moda Midstream, LLC (“Moda”) announced it has entered into a definitive agreement to acquire the Oxy Ingleside Energy Center (“IEC” or the “Ingleside Energy Center”) and certain crude oil and LPG infrastructure from Occidental Petroleum Corporation (NYSE: OXY). Moda is partnered with equity capital provider EnCap Flatrock Midstream (“EFM”).
The transaction is expected to close in the third quarter of 2018, subject to customary closing conditions. As part of the transaction, Moda will acquire the IEC, a storage and export terminal designed to handle a wide range of vessels, including very large crude carriers, and connected directly to multiple “next generation” long-haul crude pipelines that link Eagle Ford Shale and Permian Basin production to key domestic and international markets, enabling the IEC to provide access to global markets for crude oil and LPG producers and marketers.
Moda will also acquire certain crude oil pipeline assets and offsite logistics locations.
The transaction value was not disclosed, but the transaction is part of a $2.6 billion midstream divestiture package announced by Oxy on August 8, 2018.
Baker Botts L.L.P. represented Moda Midstream, LLC in this transaction.
A New Approach to Large Medium Voltage Drives
By attending this webinar, you will learn the benefits of using a single-channel, Variable Frequency Drive (VFD) solution for applications above 9,000Hp with operating voltages from 11kV to 13.8kV. We will explore a VFD solution that does not require a step-up output transformer but still provides maximum control, environmental and motor flexibility to the end user. We will also discuss how to provide maximum reliability using power cell redundancy and the removal of water cooled components. The topics covered in the webinar include:
•A brief review of the multi-cell M2C topology
•A review of the physical implementation and the advantages it offers to the end user
•A presentation of the various implementations and ratings available for use on typical pump, compressor and fan applications.
May 7, 2019 10:00 AM CDT