The new terminal located north of Peekskill in upstate New York will increase propane supply reliability across the Northeast markets, it said. The terminal will be supported by product controlled by Crestwood from multiple producers in the Marcellus and Utica regions, Crestwood said.

Previously, Crestwood said that the new Montgomery terminal will have a 16-spot rail track that could accommodate up to 100 trucks per day or as much as 1 million gal. The Middleton & New Jersey Railroad will have access to that terminal.

In New York, Crestwood has a 1.7-million-bbl NGL storage capacity, and trucking and rail connectivity in Steuben County, N.Y., to Sunoco Logistics pipeline. Steuben County is located south of Syracuse.

Houston, Texas-based Crestwood Equity Partners is a master limited partnership that owns and operates midstream businesses in multiple unconventional shale resource plays across the United States. Crestwood is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminaling, and marketing of NGLs; and gathering, storage, terminaling and marketing of crude oil.

OPIS reported in January that Crestwood expanded its West Coast NGL business in the fourth quarter 2016, with the acquisition of Turner Gas Company for approximately $7 million.

Crestwood said on Tuesday that the acquisition included significant long-term Western U.S. propane customers, numerous Rocky Mountain contracts for direct NGL supplies from processing plants and fractionators, three rail-to-truck terminals located in Nevada and Wyoming and a truck terminal in Salt Lake City, Utah.

“The acquired assets will enhance Crestwood’s ability to provide supply, transportation and storage services to wholesale customers in the western and north central regions of the United States and augment Crestwood’s West Coast refineries services business,” the company said.

Crestwood also said that it has pared down its quarterly financial losses, compared with a year ago.

Fourth quarter 2016 net loss was pegged at $64.3 million, compared to a net loss of $1.4 billion in the fourth quarter 2015. Full-year 2016 net loss was at $192.1 million, compared to a net loss of $2.3 billion in 2015.

“Heading into 2017, our commercial teams are having success expanding assets and
services in three core areas: Delaware Permian, Bakken and Marcellus. Our 2017 capital budget is currently concentrated on Arrow system expansions and the Nautilus build-out, and our teams continue to work on developing several new capital projects that we expect to finalize and announce later this year. Our 2017 adjusted cash flow guidance is lower than 2016 due to a full-year deconsolidation of the Stagecoach assets and contract expirations at the COLT hub,” the company said.

Crestwood said that on Nov. 30, 2016, contracts for 60,000 b/d of take-or-pay rail loading volumes at COLT Hub expired, reducing the level of remaining take-or-pay rail loading volumes to 40,000 b/d at a weighted average rail loading fee of approximately $1.60 per barrel. Rail loading volumes for the month of January 2017 averaged approximately 65,000 b/d, resulting in approximately $4.5 million of monthly cash flow.

Rail loading volumes are exceeding take-or-pay contracts levels due to increased utilization from daily spot customers and new short-term contracts, Crestwood said.

Crestwood connected the COLT Hub to the Dakota Access Pipeline (DAPL) in the fourth quarter 2016, which is expected to attract additional volumes to the facility after DAPL is placed into service, the company said.