Martin Midstream Partners sells East Texas Pipeline for $17.5m

Martin Midstream Partners (MMLP) has sold its East Texas Pipeline to an undisclosed buyer for $17.5 million.

Ruben Martin, President and Chief Executive Officer of Martin Midstream GP LLC, the general partner of the Partnership said: “The East Texas Pipeline sale is one more step along the Partnership’s strategic path of selling non-core assets and using the proceeds to reduce leverage. 

“In addition, this transaction is immediately accretive as the Pipeline has been idle since September 2018 producing a trailing twelve months net loss and negative EBITDA of approximately $1.6 million and $0.9 million, respectively.”

For more information visit www.martinmidstream.com