The GIGS includes 137 miles of undersea pipeline that transports oil and water from several offshore Louisiana oil fields in the Gulf of Mexico. The system includes a 16-acre terminal with storage tanks, saltwater disposal injection wells, and associated pipelines, land, buildings and facilities. At the time of its 2015 acquisition, the GIGS system transported approximately 60,000 barrels/day (18,000 oil and 42,000 water) and had a total capacity of 120,000 barrels/day.
The Portland Terminal Facility was a 39-acre rail and marine transloading terminal on the Willamette River in Portland, Oregon. CorEnergy owned the facility from January of 2014 until December of 2018, The site had 84 tanks with a total storage capacity of approximately 1.5 million barrels and was capable of receiving, storing and delivering crude oil and refined petroleum products. The property was leased to Zenith Energy under a triple-net lease.
CorEnergy previously owned a 40% undivided interest in the Eastern Interconnect Project (EIP) transmission assets from June of 2011 until April of 2015. The EIP moved electricity across New Mexico between Albuquerque and Clovis. The physical assets included 216 miles of 345 kilovolts transmission lines, towers, easement rights, converters and other grid support components.
The Pinedale Liquids Gathering System (LGS) consisted of more than 150 miles of pipeline, with 107 receipt points and four central storage facilities located in the Pinedale Anticline in Wyoming. The LGS is a vital component of natural gas production in one of the top natural gas fields in the U.S. CorEnergy owned the system from December of 2012 to June of 2020 and leased it to a subsidiary of Ultra Petroleum under a triple-net participating lease.
Historically, CorEnergy has made investments in private equity securities and development funding for assets related to infrastructure. These positions have largely been exited.