An energy and commodities leader with a global asset portfolio
Hartree invests in global energy infrastructure assets where our trading expertise provides superior market insight and the ability to mitigate or quantify downside risk. We identify, evaluate, optimize and commercialize these assets. We invest in assets directly through Hartree and via our relationship with Oaktree.
Our asset investments include
- Storage and terminals
- Power generation
- Renewable assets
- Shipping, logistics and distribution
- Downstream and refining
Selected asset investments
Hartree Natural Gas Storage
Hartree is the owner and operator of 6 natural gas storage facilities located in the US Gulf Coast, with a combined working gas capacity of approximately 120 billion cubic feet. In 2019, Hartree acquired Cardinal Gas Storage, which is comprised of four gas storage facilities: Arcadia Gas Storage, Cadeville Gas Storage, Perryville Gas Storage, and Monroe Gas Storage. In 2021, Hartree acquired two additional facilities: Pine Prairie Energy Center and Southern Pines Energy Center. Collectively, these facilities are strategically located at the junction between US natural gas production regions and growing demand centers, including electric utilities, local distribution companies, pipelines, natural gas producers, LNG shippers, aggregators, marketers, and industrial and commercial end-use customers. We are now uniquely situated to accommodate increasing needs for standby power plant fuel as intermittency of renewable power plays a larger role in the electricity grid.
Hartree Maritime, a Hartree affiliate, owns a portfolio of recently constructed crude oil tankers. These vessels, which are among the most fuel efficient VLCCs in operation, were designed with technology that significantly reduces the amount of sulfur emitted when under operation. These vessels provide scale transportation of refinery feedstock from key supply regions to large consuming markets.
In 2020, Hartree purchased a condensate splitter located in the Houston Ship Channel. The facility includes storage, truck and dock infrastructure, as well as the ability to process up to 50,000 barrels per day of crude oil and condensate into marketable and intermediate products.
In 2020, Hartree acquired 3 million barrels of crude oil storage in Cushing, Oklahoma. This storage facility is located within the world’s largest crude oil storage complex, with significant pipeline interconnectivity, allowing for the ability to source and deliver crude oil throughout the US.
UK Power Peaking Assets
Since 2016, Hartree built and operates small-scale power generation in the UK. These assets are strategically located to capitalize on locational mismatches between supply and demand in the regional UK power markets and fill the void created by the growth of renewable power.
In 2021, Hartree acquired a controlling interest in Sprague Resources LP (NYSE: SRLP). Founded in 1870, Sprague is one of the largest independent suppliers of energy products and related services in the Northeast US, where its strategically located refined products and materials handling terminals are located. Their location and natural gas pipeline capacity provides Sprague with access to energy products and services to supply their 20,000 retail, commercial, industrial, utility and wholesale customers. Sprague continues to transition its business to provide clean fuels to Northeast markets. In addition to assisting its customers, Sprague has developed a program to install flexible, thin-film solar panels on its bulk storage tanks to reduce its own carbon footprint and energy costs. For more information, visit www.spragueenergy.com.