Kirkland & Ellis is advising Sentinel Midstream on Texas GulfLink, its proposed Deepwater Crude Oil Export Terminal located near Freeport, Texas and related midstream infrastructure project, which is being financed in partnership with Cresta Fund Management.
Sentinel Midstream has announced its planned development of Texas GulfLink, a proposed Deepwater Crude Oil Export Terminal, located near Freeport, Texas. The completed facility will be capable of fully loading Very Large Crude Carrier (VLCC) vessels.
Texas GulfLink will include an onshore terminal with up to 18 million barrels of storage, an offshore 42-in. pipeline, and a manned offshore platform to facilitate port operations with two (2) Catenary Anchor Leg Mooring (CALM) Single Point Mooring (SPM) buoys. Projected export loading rates will be up to 85,000 barrels per hour, with a nominal capacity of 1.2 million barrels per day over the course of a calendar year.
Over the past year, Sentinel Midstream developed Texas GulfLink in conjunction with multiple stakeholders, including federal, state, and local agencies. The project has secured necessary commercial support to justify the capital investment and is preparing its submission of a formal permit with the United States Maritime Administration (MARAD).
Project financing is being provided by Cresta Fund Management.
Kirkland & Ellis is advising Sentinel Midstream with a team including Kevin Crews (Picture), Chad Smith and Sam Peca and associates Ben Hardison and Lindsey Jaquillard; and energy regulatory partner Bob Fleishman.
Involved fees earner: Kevin Crews – Kirkland & Ellis; Robert Fleishman – Kirkland & Ellis; Ben Hardison – Kirkland & Ellis; Lindsey Jaquillard – Kirkland & Ellis; Samuel Peca – Kirkland & Ellis; Chad Smith – Kirkland & Ellis;
Law Firms: Kirkland & Ellis;
Clients: Sentinel Energy Services Inc.;