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Rail News: Union Pacific Railroad

CIG Logistics acquires UP-served rail facility in Odessa, Texas

Oil and gas logistics provider CIG Logistics earlier this week completed its acquisition of a 330-acre rail facility in Odessa, Texas, from Flint Hills Resources.

The facility is a critical logistics hub for the energy industry, particularly for the movement of crude oil and frac sand via rail and truck to and from the Permian Basin, CIG officials said in a press release.

Union Pacific Railroad directly serves the facility, with 29,000 feet of track, two unit train loops and 10 ladder tracks.

CIG officials believe the facility's size, rail-car capacity and location will enable the company to expand its logistics services to additional industries, including construction, aggregate, chemical and automotive sectors, CIG officials said.

The site has the ability to load unit trains of crude oil and unload other bulk products.

"The acquisition of the Odessa terminal continues to demonstrate our long term confidence in the strength of the energy sector and our commitment to making substantial and strategic investments to support our growing customer base," said Jonathan Green, chief executive officer of CIG Logistics.

The purchase price and acquisition terms were undisclosed.

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More News from 10/2/2015