Delek Logistics Partners LP (NYSE: DKL) is paying $10 million to buy logistics assets from Magellan Midstream Partners LP.

Delek is acquiring a products terminal in Mount Pleasant Texas, a storage facility in Greenville, Texas, and a pipeline connecting the locations. The storage locations can store 505,000 barrels of oil, collectively.

The deal should allow the buyer to expand its east Texas presence and support the company's refinery, which it wants to expand in 2015. Delek, headquartered in Brentwood, Tennessee, owns, operates and acquires crude oil and related logistics assets.

Other recent energy services deals include Patterson-UTI Energy Inc.'s (Nasdaq: PTEN) purchase of fracking assets in Texas in September, and Ridgemont Equity Partners' investment in Abrasive Products & Equipment

 

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.