Teppco has acquired 42 push boats, 89 barges and the economic benefit of certain related commercial agreements for a total consideration of approximately $500 million through its subsidiary, Teppco Marine Services.
These assets serve refineries and storage terminals along the Mississippi, Illinois and Ohio rivers, as well as the Intracoastal Waterway between Texas and Florida. These assets also gather crude oil from production facilities and platforms along the Gulf Coast and in the Gulf of Mexico.
Teppco stated that, with an extensive system of pipelines and storage facilities for refined products, liquefied petroleum gases and crude oil that serves the Gulf Coast, the midwest, southeast and the northeast US, it is well positioned to leverage the acquired assets.
Consistent with its integrated value chain strategy, the partnership has been developing a network of product distribution terminals along the US’s inland waterways that will complement and integrate with the newly purchased Teppco Marine assets.
