Bridger Group Acquires Occidental Petroleum’s Trucking Operation
Integrated crude oil midstream logistics company, Bridger Group, has reached an agreement to provide dedicated trucking services for the crude oil marketing business of Occidental Energy Marketing.
Integrated crude oil midstream logistics company, Bridger Group, has reached an agreement to provide dedicated trucking services for the crude oil marketing business of Occidental Energy Marketing.
In addition, Bridger will acquire all of Occidental Energy Transportation tractors and trailers that are currently servicing the Permian Basin, which covers parts of Texas and New Mexico, as well as employ OET's trucking operations personnel.
Terms of the deal have not been released. Also, neither company announced how many tractors, trailers or people are covered by the agreement.
In connection with the agreement, Bridger has ordered a fleet of new tractors to complement the assets purchased from OET to support sustained growth in the region.
Bridger operates more than 450 crude-hauling trucks as part of its operations that also include the storage of crude oil, in addition to other functions. Occidental Energy Marketing is subsidiary of Occidental Petroleum, which is involved in a wide range of energy marketing activities in natural gas, natural gas liquids, power and crude oil markets in North America and select international markets.
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