Past Assets & Investments

Category
Assets, Past Assets & Investments

Portland Terminal Facility

Acquired in January 2014 for $42 million, the Portland Terminal Facility was a 39-acre rail and marine transloading terminal on the Willamette River in Portland, Oregon. CorEnergy invested an additional $10 million to develop the asset during its ownership. 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.

Zenith Energy purchased the terminal in December 2018 for ~$61 million.

Eastern Interconnect Project

CorEnergy previously owned a 40% undivided interest in the Eastern Interconnect Project (EIP) transmission assets which 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 Public Service Company of New Mexico purchased the interest in the EIP, at the end of its lease term, in April 2015 for ~$ 8 million.

Other Investments

Historically, CorEnergy has made investments in private equity securities and development funding for assets related to infrastructure. These positions have largely been exited.