One-Page Deal Sheet
Holly Acquires MidContinent Oil Tankage from Plains All American
Holly Energy Partners L.P Plains All American Pipeline, L.P.
Announced Date
April 01,2016
Close Date
April 01,2016
Transaction Type
Asset
Location
Region
United States
Country
United States
State
Oklahoma
Transaction Details: Require Private Equity Subscription
Holly Energy Partners, L.P. announced its acquisition of crude oil tankage located at HollyFrontier Corporation’s Tulsa refinery from an affiliate of Plains All American Pipeline, L.P. for $39.5 million in cash. This transaction was effective as of March 31, 2016.
In connection with the closing of the acquisition, HollyFrontier and Holly Energy expect to enter into a 10-year throughput agreement containing minimum quarterly volume commitments from HollyFrontier. Holly Energy expects this acquisition will generate minimum annual revenue of $6.1 million in the first year and will be immediately…
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