Flint Hills Resources Adding Oil Shipping Capacity

Flint Hills Resources Adding Oil Shipping Capacity

February 17, 2011

Flint Hills Resources will add the capability to ship up to 200,000 barrels per day of crude oil and condensate from its terminal in Ingleside. “We appreciate the Port of Corpus Christi’s action today to approve our purchase of a small-craft pier and related wharf at the Naval Station Ingleside,” said Brad Urban, senior vice president of crude oil for Flint Hills Resources. “With this approval we will be able to proceed with permitting and complete our plans to modify and integrate these assets into our crude terminal that is already receiving Eagle Ford production.

“We are pleased to be able to contribute to the redevelopment of NSI.”

Flint Hills Resources expects to begin outbound waterborne shipments of Eagle Ford from the retrofitted assets by the middle of 2012.

“We believe the Eagle Ford Shale play will produce a large volume of crude oil for a long time – and in amounts that will exceed what local refiners can use,” Urban said. “Due to the proximity to Eagle Ford production, we believe Corpus Christi and Ingleside are the best locations for shipping Eagle Ford crude to other markets on the Gulf Coast.”

Today’s timely approval will provide Eagle Ford producers with earlier access to additional markets via the Port of Corpus Christi. Movement of those additional volumes of crude through the Port will benefit the entire Coastal Bend.

As the retrofit gets underway, construction companies will use about 80 employees. Once it is operational, this will mean 8 to 10 new full-time jobs for the area.