HOUSTON, November 10, 2020 /PRNewswire/ — Easton Energy LLC (“Easton” or the
“Company”), a Houston-based midstream company, today announced that it has executed an
agreement to purchase the “South Texas Pipeline System” (the “Pipeline System”) from
ExxonMobil Pipeline Company, a wholly-owned subsidiary of Exxon Mobil Corporation. The
South Texas Pipeline System comprises approximately 720 miles of pipeline running from
ExxonMobil’s Clear Lake and Katy Gas Plants at the northern end of the Pipeline System, to
Energy Transfer’s King Ranch Gas Plant and the Port of Corpus Christi at the southern end of
the Pipeline System, plus several surface facilities. The acquisition is expected to close early in
2021.
The Pipeline System holds a significant place in oil and gas exploration and production in south
Texas, having been used over the years to transport a variety of commodities from crude oil to
different natural gas liquids. Most recently, the Pipeline System has been in Refinery Grade
Propylene service. Operated by ExxonMobil and its predecessors, the Pipeline System is
considered to be a “best in class” asset which has benefited from ExxonMobil’s maintenance and
operational integrity programs and its committed workforce.
The Pipeline System connects growing petrochemical markets in South Texas, Easton’s large
salt dome storage position at Markham, TX and Easton’s distribution pipelines in the Houston
Ship Channel and Mont Belvieu areas. Easton’s interconnected system will range from Corpus
Christi to Houston, Mont Belvieu, Texas City and Lake Charles, Louisiana, all supported by
rights to 50 million barrels of liquid hydrocarbon storage at Markham, TX. Easton anticipates
offering pipeline transport optionality to a growing petrochemical customer base.
Easton President and CEO, Joel McComas stated, “We’re thankful for the opportunity to work
with ExxonMobil on this transaction. I’m pleased with this addition to our pipeline portfolio
which further allows Easton to provide safe and efficient transport of liquid hydrocarbons.”
About Easton Energy LLC
Easton Energy is a Houston based midstream company focused on developing infrastructure
assets that support the transportation, storage, and processing of natural gas liquids (NGL),
refined products, and petrochemicals. Easton’s primary assets include liquid hydrocarbon salt
cavern storage facilities at Markham, TX and approximately 416 miles of product distribution
pipelines that connect key product markets along the Texas and Louisiana Gulf Coast. Easton
Energy is backed by Cresta Fund Management, a middle-market focused infrastructure firm
focused on investing in hard assets that transport, store, process or sequester basic materials. For
more information, please visit: www.easton.energy

Contact
Easton Energy LLC, Tyler Wharton, TWharton@easton.energy