San Antonio-based publicly traded partnership, NuStar Energy LP (NS), reported the completion of its North Beach Terminal’s private marine loading dock ahead of time. The terminal is located in Corpus Christi, Texas. The construction of the dock was expected to be finished by the second quarter of 2014.
The project was completed before schedule to meet the mounting shipment demand of Eagle Ford crude oil. The development consists of several 30-inch and 12-inch pipelines to transport oil from the tank of the North Beach Terminal to the newly constructed dock.
With the latest addition, NuStar Energy now owns three loading docks in Corpus Christi, Texas. The partnership has also finished the revamp of the pump systems of the terminal. These developmental projects have enhanced the loading capacity of the North Beach terminal by more than three folds to 400,000 barrels per day.
NuStar Energy is a master limited partnership (MLP) that engages in the transportation and storage of crude oil as well as refined products in the U.S., the Netherlands Antilles, Canada, Mexico, and the U.K. The partnership has interests in asphalt refining and marketing in the U.S. and is the second largest independent liquids terminal operator in the nation.
NuStar Energy currently retains a Zacks Rank #2 (Buy), implying that it is expected to outperform the broader U.S. equity market over the next one to three months.
One can also look at players in the oil and gas production pipeline sector like Crestwood Equity Partners LP (CEQP), Energy Transfer Equity LP (ETE) and Magellan Midstream Partners LP (MMP). Crestwood Equity sports a Zacks Rank #1 (Strong Buy), while Energy Transfer Equity and Magellan Midstream Partners hold a Zacks Rank #2.
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