LDH Energy Purchases West Virginia Coal Dockadmin
Tuesday, August 19th 2008
Louis Dreyfus Highbridge Energy LLC (LDH Energy), announced today that one of its operating subsidiaries, LDH Energy Cyrus River Terminal LLC, has purchased the Big Sandy River Dock – a coal facility in Kenova, West Virginia – from Kanawha River Terminals LLC.
“This facility will provide LDH Energy with a merchant platform to connect coal consumers with coal producers throughout the Midwest and will allow LDH Energy to provide value added services to both,” said Charlie Rountree, Vice President, U.S. Coal Marketing.
The dock is located along the Big Sandy River and provides an annual throughput capacity of 5 million tons and a ground storage capacity of 600,000 tons. It features a state-of-the-art truck auger, computerized truck scales and Tema automatic sampler for outbound analysis. It has capacity to handle 13 barges and features a 500 tons per hour barge off-loading system. The dock has an ISO Certified Integrated Management System for safety, environmental and quality.
“LDH Energy will commence operations of the facility in September,” said Joseph Rothbauer, Vice President – Operations, LDH Energy, “and foresees creating 13 new jobs.”
About LDH Energy
LDH Energy, through its various subsidiaries, operates one of the largest natural gas liquids, natural gas, power, emissions, coal, petroleum and petrochemical merchandising companies in North America and is involved in the processing, trading and transporting of a range of energy products. Currently, LDH Energy markets over 8 bcf of physical natural gas each day. LDH Energy’s asset base includes: the Mont Belvieu storage facility which includes 44 million barrels of underground storage of NGLs and refined product; the 1,400-mile West Texas NGL pipeline from the Permian basin to the Mt Belvieu storage and processing facilities with intermediate delivery to the Hull storage facility; a 4.5-million barrel propane/butane storage and terminal facility in Hattiesburg, Mississippi; and a 20-percent interest in the Sea Robin Gas Processing Plant, a 850-mmcfd gas processing plant in Louisiana that processes wet natural gas primarily from offshore Gulf Coast production fields. LDH Energy also owns two cryogenic liquids extraction plants, an olefins fractionation plant and an 85-mile pipeline located in southeast Louisiana and a gas gathering and processing system in Eastland, Erath, Bosque and Hill Counties in north Texas.
LDH Energy is a joint venture between the Louis Dreyfus Group and an investment fund managed by Highbridge Capital Management, LLC. The Louis Dreyfus Group, which was founded in 1851, is an organization of diversified companies whose principal activities include worldwide processing, trading and merchandising of a broad range of agricultural and energy commodities, telecommunications, real estate development and shipping. For more information, please visit www.louisdreyfus.com. Highbridge Capital Management, LLC is a global alternative investment and asset management firm based in New York with offices in London, Hong Kong, Tokyo, and San Francisco. Highbridge manages approximately $30 billion of capital.