Calhoun Port Authority Announces Max Midstream Exclusive Bunkering Rights Agreement - PRNewswire

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HOUSTON, March 11, 2021 /PRNewswire/ -- Texas-based energy company, Max Midstream, today was selected by the Calhoun Port Authority for an exclusive bunkering rights agreement at the port. The agreement takes effect immediately and will last for the next 50 years.

"We are honored the Calhoun Port Authority has chosen Max Midstream to provide bunkering services at the port," said Todd Edwards, President and CEO of Max Midstream. "Now, not only will Max be able to connect the Permian and Eagle Ford Basins to the Port of Calhoun, but we will also be able to service ships entering the port and provide fueling support. This gets us one step closer to offering a comprehensive package of services—from transporting oil across Texas, to getting it to the port, to fueling the ships that will take the product to the European market."

Launched in 2020, Max Midstream is a Houston-based energy company that acquired the Seahawk Pipeline and Terminal from Oaktree Capital at the Port of Calhoun last year. Eventually, Max Midstream will connect the port directly to both Eagle Ford and Permian Basins and will transport 20 million barrels a month. The company is also partnering with the Calhoun Port Authority and investing $360 million to finance the deepening and widening of the port by 2023. Max Midstream now expects to export Texas oil to the European market perhaps as soon as Q2 in 2021.

For more information on Max Midstream and this project, please visit www.maxmidstream.com.

SOURCE Max Midstream