Good News!

Blackwater Midstream Corp. Announces Agreement to be Acquired by an Affiliate of ArcLight Capital Partners, LLC

Today : Friday 29 June 2012

Blackwater Midstream Corp. (OTCBB:BWMS) (“Blackwater” or the “Company”), a company that specializes in the development and management of third party petroleum, chemical and agricultural bulk liquid storage terminals, with operations in Louisiana, Maryland and Georgia, announced today that it has entered into a definitive agreement to be acquired by an affiliate of ArcLight Capital Partners, LLC (“ArcLight”), an energy-focused private equity investment firm, for approximately $44.1 million. Under the terms of the agreement, holders of Blackwater’s common stock will receive $0.64 per share in cash for each outstanding share of common stock they own. The holders of convertible notes will also be entitled to receive cash consideration based on the number of shares of common stock into which the notes are convertible. Taking into account the Company’s indebtedness, the implied transaction value is approximately $48.7 million. Upon consummation of the merger, Blackwater’s common stock will no longer be publicly owned or publicly traded.

Under the terms of the agreement, upon consummation of the transaction, Blackwater’s stockholders will receive $0.64 per share, a premium of 29.4% over the average closing share price of $0.49 during the last 30-days ending June 28, 2012 and a premium of 32.1% over the average closing share price of $0.48 over the three-month period ending June 28, 2012.

BWMS news 4.10 Blackwater Midstream Corp. Announces Highest Gross Revenue Month in Company’s History

Blackwater Midstream (OTCBB:BWMS)
Intraday Stock Chart
Today : Tuesday 10 April 2012
Blackwater Midstream Corp., (OTCBB:BWMS) announces that its gross revenues of $1,065,000 for the month of March, 2012 are the highest in the company’s history and has eclipsed the previous mark by more than $160,000.

Mike Suder, Blackwater Midstream Corp.’s Chief Executive Officer stated, “We are extremely pleased with the revenue results that we have achieved for the month of March, 2012. Our financial success is being driven by higher product throughput volumes and higher utilization rates of our existing capacities. In fact, our three terminal facilities in Westwego, Louisiana; Brunswick, Georgia; and Salisbury, Maryland currently have any overall utilization rate of 94%.”

Frank Marrocco, Chief Commercial Officer of Blackwater Midstream Corp. added, “In addition to our strong revenue results, we are also excited to have future growth taking place as well. We are in the process of constructing new capacity at our Brunswick, Georgia site for a long term customer commitment, and are working diligently with local officials to secure permitting to allow expansion at our Westwego, Louisiana facility. Most importantly, the cornerstone of our success is based on our outstanding customer service and operating our terminals safely and efficiently.”

Blackwater Midstream Corp. is an independent developer and operator of bulk liquid storage terminals including facilities within the Port of New Orleans in Westwego, Louisiana, Brunswick, Georgia, and Salisbury, Maryland. The Westwego facility consists of 856,000 barrels of storage capacity, while the Brunswick facility has 162,000 barrels of capacity, and 177,000 barrels at the Salisbury, Maryland terminal. All locations are capable of storing a variety of liquid products. Blackwater Midstream is a member of the International Liquid Terminal Association.

For more information, please reference our website at www.BlackwaterMidstream.com.