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DENVER - FourPoint Resources, LLC announced Thursday it has reached an agreement with Energy Transfer LP (NYSE:ET), a $57 billion market cap energy infrastructure giant, to expand the Price River Terminal in Wellington, Utah, doubling its export capacity for crude oil from the Uinta Basin. According to InvestingPro analysis, Energy Transfer currently appears undervalued and maintains a strong financial health rating.
The expansion will increase FourPoint’s capacity at the terminal to 50,000 barrels of oil per day and enhance deliverability of what the company now calls American Premium Uinta (APU) crude to refineries throughout the United States. Energy Transfer, which generated over $80 billion in revenue last year and offers a substantial 7.92% dividend yield, continues to strengthen its position as a prominent player in the Oil, Gas & Consumable Fuels industry.
According to the press release, the project will include a new continuous loop track, a railcar load rack capable of handling 140,000 barrels daily, nine additional rail loading arms, four more truck offload lanes, and upgraded pump capacity. The expansion will also add a heated storage tank with approximately 140,000 barrels of capacity and two 6,000-foot storage unit tracks.
"Energy Transfer’s commitment to this project and reliable flow assurance will be critical to our growth strategy in the basin," said Tripp Kerr, Vice President of Marketing at FourPoint.
The company has rebranded the crude previously known as Uinta Wax or Yellow Wax as American Premium Uinta (APU), highlighting its high paraffinic content and low impurities.
The terminal expansion is expected to be completed by the fourth quarter of 2026, subject to necessary third-party and government approvals.
FourPoint CEO George Solich stated that the Uinta Basin is "positioned for meaningful production growth" unlike other major U.S. basins facing declining output.
FourPoint Resources is a privately held company with operations in the Uinta Basin, backed by Quantum Capital Group and Kayne Anderson.
In other recent news, Sunoco LP has announced the commencement of private exchange offers for notes previously issued by Parkland Corporation, as part of Sunoco’s planned acquisition of Parkland. These exchange offers involve six series of notes with a combined value of approximately C$1.6 billion and US$2.6 billion. Additionally, Sunoco has priced an upsized private offering of senior notes totaling $1.9 billion to finance this acquisition. The offering includes $1 billion in 5.625% senior notes due 2031 and $900 million in 5.875% senior notes due 2034. The acquisition has cleared the antitrust waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and is expected to close in the fourth quarter of 2025, pending further regulatory approvals.
Energy Transfer LP is reportedly nearing a deal to sell liquefied natural gas from its planned Lake Charles export terminal to MidOcean Energy, a unit of EIG Global Energy Partners. This deal would formalize a heads of agreement announced earlier, where MidOcean committed to fund 30% of the construction costs in exchange for 30% of the LNG production. Meanwhile, Darling Ingredients has been added to Raymond James’ Analyst Current Favorites list, replacing Energy Transfer. Raymond James highlighted Darling Ingredients’ legacy business lines as providing long-term advantages for its sustainable fuels operations.
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