Elbow River Marketing USA LTD. announces acquisition of Midwest propane terminals from Plains LPG Services, L.P.
Calgary | Friday, January 22, 2021
Calgary, Alberta – January 22, 2021 – For Immediate Release
CALGARY, January 22, 2021 – Elbow River Marketing USA LTD. (“Elbow River” or “the Company”) announced that effective January 22, 2021, it has entered into a definitive agreement ("the Agreement") with Plains LPG Services, L.P. (“Plains”) relating to the acquisition of propane terminals (“the Terminals”) in Hankinson, North Dakota and Owen, Wisconsin. The Agreement includes all assets and inventory at both locations including over 1 million gallons of above-ground storage, 105 million gallons of annual throughput capacity as well as rail offloading and truck loading infrastructure at each facility. Elbow River will take over operatorship of the Terminals upon closing of the Agreement.
“This LPG acquisition begins a new era of asset ownership for our company” said Craig Clark, President of Elbow River. “The company will use these assets, as well as our other marketing locations in Barron, WI, Keenan, MN and Cordova, IL, as an opportunity to safely and cost-effectively bring reliable propane supply to the United States Midwest. We look forward to enhancing the supply opportunities for all Elbow River customers now and for the foreseeable future”.
Elbow River will exclusively supply and market propane at the Terminals utilizing its existing railcar fleet and expansive market knowledge.
All inquiries regarding this or other Elbow River operations should be directed by email to [email protected] or by phone at 403-232-6868
About Elbow River
Calgary-based Elbow River Marketing Ltd. is a leading marketing and transportation service provider that has been serving North America's energy industry for over 35 years. With offices in Minneapolis, Kansas City, Nashville, Dallas and Mexico City, Elbow River manages an integrated system of railcars, trucks and pipelines that transport LPG, crude oil, gasoline, diesel and other energy products derived from natural gas and hydrocarbons. Elbow River's commercial operations allow it to offer a full spectrum of transportation and marketing services to the energy sector. It is committed to working with its partners, community and neighbours, while providing value for investors in a safe, environmentally responsible manner. Elbow River is a wholly owned subsidiary of Parkland Fuel Corporation, Canada’s largest independent fuel marketer. Parkland’s common shares trade on the Toronto stock exchange under PKI.