Western Refining buys Wingate NGL fractionation plant from Conoco

Western Refining has entered into an agreement for the acquisition of the 25,000-bpd Wingate fractionation plant in Gallup, New Mexico, from ConocoPhillips, the companies announced on Wednesday.

The Wingate plant is currently idled.

The Wingate facility also includes rail loading and offloading capabilities and storage facilities, in addition to natural gas liquids (NGL) fractionation capability. The transaction is expected to close in early October. 

Financial terms of the deal were not disclosed.

"The strategic location of the Wingate facility is a great addition to the logistical assets of Western," said Jeff Stevens, Western's CEO.

"It is conveniently located near our Gallup refinery," he added. "This transaction will afford Western greater flexibility in the Four Corners region as it will provide approximately 125,000 barrels of pipeline-connected seasonal NGL storage for our Gallup refinery; crude oil loading and transportation capabilities, both east and west, through the rail loading terminal; and pipeline connectivity to Western Refining Logistics assets."

"We will work closely with ConocoPhillips to ensure a smooth transition," Stevens added. "This is a great example of our people identifying opportunities to build the long-term capabilities of both WNR and WNRL."