Hartree to acquire natural gas storage assets of Martin Midstream Partners for $215m.

Hartree Bulk Storage, an independent storage, terminalling and related infrastructure platform company funded by Hartree Partners and Oaktree Capital Management, agreed to acquire natural gas storage assets of Martin Midstream Partners, a publicly traded limited partnership with a diverse set of operations focused primarily in the United States Gulf Coast region, for $215m. The assets consist of approximately 50bn cubic feet of working capacity located in northern Louisiana and Mississippi. “We are excited about the opportunity for Hartree Bulk Storage to acquire the Natural Gas Storage Assets and operate them as independent facilities,” said Steve Semlitz, co-founder of Hartree Partners L.P., “the Natural Gas Storage Assets are high-performing facilities strategically located in the Gulf Coast. Hartree Bulk Storage plans on further optimizing these facilities and their capabilities in the near-term, to better serve customers in the ever-growing Gulf Coast region.”