Texas-based energy company Max Midstream has acquired the Seahawk Pipeline and Terminal from Oaktree Capital at the Port of Calhoun.
Max Midstream is planning a historic pipeline that will connect the port directly to both Eagle Ford and Permian Basins to transport up to 20 million barrels a month to a revitalized terminal. Exports will begin with completion of the first phase in late 2020, and the second phase project is expected to be completed by 2023. During this process, Max Midstream will be investing up to $1 billion into the overall project.
“This is a great day not only for the Texas oil industry, but for the state as a whole, as more than 1000 jobs will be created,” said Todd Edwards, president of Max Midstream. “At a time when the oil and gas market is down, this project and partnership reflects proof that Texas is bouncing back and will remain resilient in being the world’s leader in oil production.”
The key to exporting Texas oil is transp
