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News
September 28, 2009
ArcLight Closes on Acquisition of 50% Interest in Houston Fuel Oil Terminal Company, LLC from Motiva Enterprises, LLC
Boston, MA –ArcLight Capital Partners, LLC (“ArcLight”) has closed on the acquisition of the remaining 50% membership interest in Houston Fuel Oil Terminal Company, LLC (“HFOTCO”) from Motiva Enterprises, LLC. ArcLight acquired its initial 50% interest in HFOTCO in October 2007 from Chartco, LLC.
HFOTCO is the U.S. Gulf Coast's largest black oil facility with 11 million barrels of tankage in operation and another 2 million barrels currently under construction. Since 1979 HFOTCO has been storing, blending and moving residual oil for carbon black manufacturers, refineries, bunker suppliers and oil traders. Starting in 1992 HFOTCO began storing and delivering crude oil and feedstock to area refineries.
“We are pleased to expand our ownership position in one of the U.S. Gulf Coast’s most important and strategic terminal assets”, said Dan Revers, Managing Partner at ArcLight. “HFOTCO’s strong asset base, impressive management team and significant growth prospects make it an ideal investment for our Funds”, added Mr. Revers.
About ArcLight Capital Partners, LLC
ArcLight is one of the world's leading energy investment firms with more than $6.8 billion under management. ArcLight's investment team has extensive energy investing experience, industry relationships, and asset level knowledge. ArcLight is headquartered in Boston, Massachusetts with offices in New York City, London and Luxembourg. More information about ArcLight can be found at
http://www.arclightcapital.com.
January 10, 2008
HOUSTON FUEL OIL TERMINAL COMPANY ANNOUNCES ACQUISITION OF DOW HALTERMANN PRODUCTS FACILITY LOCATED IN HOUSTON, TEXAS
HOUSTON (January 10, 2008) -
Houston Fuel Oil Terminal Company (HFOTCO), a major Houston-based provider of crude and residual fuel oil storage, today announced the acquisition of the Dow Chemical Company's Haltermann Products Facility located near the intersection of Sheldon Road and Jacintoport Boulevard. This property includes 50 acres, numerous tanks, a barge dock, rail spurs, truck racks, and land for further expansion.
Kevin Hickey, Director, Business Development, stated "This acquisition fits nicely with
HFOTCO's existing facility. The acquired property will be tied into our main plant later this year. Given the long lead times for building storage tanks, acquiring existing tanks will accelerate
HFOTCO's expansion plans. Additionally, the property provides future opportunities not only for residual fuel, but also for other storage opportunities."
August 2007
HOUSTON FUEL OIL TERMINAL COMPANY ANNOUNCES EXPANSION
Houston-Based Oil Storage Company Adds Tankage to Meet Customer Demands
HOUSTON (August, 2007) - Houston Fuel Oil Terminal Company (HFOTCO), a major Houston-based provider of crude and residual fuel oil storage, today announced its plans to build new storage capacity on its property north of Jacintoport Boulevard, which is located on the Houston Ship Channel. This expansion will increase
HFOTCO's overall tankage capacity by 1.6 million barrels . Additionally,
HFOTCO will expand its current infrastructure and waterfront capacity to complement this expansion.
William T "Bill" Wilson, President and CEO for
HFOTCO stated that "Houston Fuel Oil is responding as quickly as possible, within construction time constraints, to the growing demand for crude and residual oil tankage in the greater Houston area. Additionally, we will remain proactive in pursuing creative ways to add future resid tankage on our Jacintoport Boulevard property to meet customer needs."
This expansion, combined with previously announced expansions, will increase
HFOTCO's residual fuel oil and crude storage capacity by over 2.8 million barrels in the next 3 years. This expansion will also bring
HFOTCO's total capacity to almost 13 million barrels.
July 2006
HOUSTON FUEL OIL TERMINAL COMPANY ANNOUNCES EXPANSION
Houston-Based Oil Storage Company Adds Tankage to Meet Customer Demands
HOUSTON (July, 2006) - Houston Fuel Oil Terminal Company (HFOTCO), a major Houston-based provider of oil blending, storage and shipping for electric utilities, carbon black manufacturers, refineries, traders, and bunker suppliers, announced today their plans for building three 400,000 shell barrel internal floating roof tanks to store crude oil on the Jacintoport Boulevard property, which is located on the Houston Ship Channel. One of
HFOTCO's crude oil customers will occupy the new 1.2 million barrels of tankage.
"Houston Fuel Oil is responding as quickly as possible, within construction time constraints, to the growing demand for resid and crude oil tankage in the greater Houston area," said Bill Wilson, CEO for
HFOTCO. "We will remain proactive in looking for creative ways to add future resid tankage on our Jacintoport Boulevard property to meet customer needs."
Additionally, HFOTCO is building one 220,000 barrel tank and converting 850,000 barrels of storage to residual fuel oil use. Combined, this will give
HFOTCO the capacity for more than one million barrels of new residual fuel oil storage for new and existing customers.
July 2005
HOUSTON FUEL OIL TERMINAL COMPANY NAMES PRESIDENT/CEO
Seasoned Veteran in the Energy Industry to Lead Houston-Based Terminal and Oil Blending Company
HOUSTON (July, 2005) - Houston Fuel Oil Terminal Company (HFOTCO), a major Houston-based provider of oil blending, storage and product transfer services for electric utilities, carbon black manufacturers, refineries, traders, and bunker suppliers, announced today that William T. (Bill) Wilson has accepted the position of president and CEO of the company.
Wilson has more than 25 years of experience in the energy industry, including transportation, operations, trading, and risk management.
Prior to joining HFOTCO, Wilson was president of Wilson Advisors, an advisory firm specializing in performance turnarounds and growth opportunities for energy-related companies. His experience at Wilson Advisors ranged from providing entire corporate risk management programs to providing business plans for under-utilized energy assets.
Wilson's other business ventures include the following: president of FAME Energy, a software and data provider to the energy marketing and trading sector; president of UNOCAL Global Trade, the worldwide marketing, trading and pipeline division at UNOCAL, where he was also an executive officer and chairman of the Risk Management Committee for the Board of Directors; and several upstream and midstream engineering and management positions with British Petroleum, Tenneco and Exxon.
"Houston Fuel Oil is unmatched in the terminal industry, and I'm excited to join them," Wilson said. "I'm looking forward to using my industry background to build on the company's commitment to providing its customers with excellent service and state-of-the-art technology in handling their oil blending, storage and transfer needs."
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