South 49 Holdings, Ltd. agreed to acquire Casper Crude to Rail, LLC for $33 million on March 20, 2023. Upon the terms and subject to the conditions set forth in the Purchase Agreement, the Partnership agreed to sell its Casper rail terminal, to the Buyer for a cash purchase price of approximately $33 million, subject to customary adjustments. USD Partners LP intends to use a majority of the proceeds from the transaction, net of expenses, to repay borrowings outstanding under the Partnership's revolving credit facility and to retain the remaining proceeds to support general partnership purposes. Completion of the transaction is subject to certain customary conditions and is expected to close prior to the end of the second quarter of 2023.

Hillary H. Holmes, Tull Florey and Gerry Spedale of Gibson, Dunn & Crutcher LLP acted as legal advisor and Piper Sandler & Co. acted as financial advisor to USD Partners LP. Stan Carscallen of Carscallen LLP acted as legal advisor to South 49 Holdings, Ltd.

South 49 Holdings, Ltd. completed the acquisition of Casper Crude to Rail, LLC on March 31, 2023.