HOUSTON, Feb. 17, 2016 /PRNewswire-USNewswire/ -- Mercuria Energy, one of the world's largest independent and integrated energy and commodities groups, announced today that it has acquired a Rocky Mountain crude supply and marketing business from Enterprise Crude Oil LLC, an affiliate of Enterprise Products Partners L.P.
Mercuria acquired a marketing team and assets in Wyoming, North Dakota, Colorado and Montana. With the transaction, Mercuria will continue to deliver upon Enterprise's strong historical ties with local producers to ensure volume flow and superior access to competitive markets.
"We believe this marketing business is a unique opportunity to further develop our presence in the American crude oil business," said Daniel Jaeggi, President of Mercuria Energy. "Mercuria is a proven reliable partner to counterparties and always delivers a competitive price and product. Further, this business will complement Mercuria's activities across the energy spectrum. It enables us to reinforce our cross-commodity analytical approach and to facilitate the development of transactions to support our counterparties."
The marketing business further builds upon Mercuria's in-house activities. Bringing more than 150 new counterparties to Mercuria, the transaction complements the firm's growing presence in the North American crude market. The business is a natural complement to Mercuria's lease first purchasing, storage/transportation assets, and refinery supply activities.
As a leading energy and commodities group with a turnover of more than USD 100 billion, Mercuria is primarily focused on energy, and is present all along the commodity value chain with activities forming a balanced combination of commodity flows and strategic assets. More than 1,000 people are operating from offices worldwide to sustain the Group's extensive business reach with their market knowledge, diversity, and experience. In 2014, Mercuria completed the acquisition of the physical commodities trading unit of JPMorgan Chase & Co.
Note: Mercuria hereby represents that it has not registered as a commodity trading advisor under the Commodity Exchange Act. Mercuria does not engage in the business of advising others as to the value or advisability of trading commodity interests. Mercuria does not hold a duty to its counterparties to refrain from utilizing any information Mercuria obtains in the normal course of business in its trading decisions. Any transaction contemplated with Mercuria is entered into as principal; all statements made to, information provided to and negotiations with Mercuria are as principal. Any communications with Mercuria in respect of any transaction are not and were not intended to be trading advice and do not give rise to a fiduciary relationship.
SOURCE Mercuria Energy Trading, Inc.