Mercuria Energy Acquires Rocky Mountain Crude Business Unit from Enterprise Crude Oil
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Mercuria Energy has acquired a Rocky Mountain crude supply and marketing business from Enterprise Crude Oil LLC, an affiliate of Enterprise Products Partners L.P.
Mercuria acquired a marketing team and assets in Wyoming, North Dakota, Colorado and Montana. With the transaction, Mercuria will continue to deliver upon Enterprise’s strong historical ties with local producers to ensure volume flow and superior access to competitive markets.
“We believe this marketing business is a unique opportunity to further develop our presence in the American crude oil business. Mercuria is a proven reliable partner to counter-parties and always delivers a competitive price and product. Further, this business will complement Mercuria’s activities across the energy spectrum. It enables us to reinforce our cross-commodity analytical approach and to facilitate the development of transactions to support our counter-parties,” said Daniel Jaeggi, president of Mercuria Energy.
The marketing business further builds upon Mercuria’s in-house activities. Bringing more than 150 new counter-parties to Mercuria, the transaction complements the firm’s growing presence in the North American crude market. The business is a natural complement to Mercuria’s lease first purchasing, storage/transportation assets, and refinery supply activities.
About Mercuria Energy
As a leading energy and commodities group with a turnover of more than US$100 billion, Mercuria is primarily focused on energy, and is present all along the commodity value chain with activities forming a balanced combination of commodity flows and strategic assets. More than 1,000 people are operating from offices worldwide to sustain the group’s extensive business reach with their market knowledge, diversity, and experience. In 2014, Mercuria completed the acquisition of the physical commodities trading unit of JPMorgan Chase & Co.
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