One-Page Deal Sheet
Holly Energy Partners Eyes 50% Stake in Cheyenne Pipeline
Holly Energy Partners L.P Plains All American Pipeline, L.P.
Announced Date
June 06,2016
Transaction Type
Asset
Location
Region
Williston Basin
Country
United States
State
Wyoming
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Transaction Details: Require Private Equity Subscription
Holly Energy Partners, L.P. announces the acquisition of a 50% interest in Cheyenne Pipeline LLC, owner of the Cheyenne Pipeline, in exchange for a contribution of $42.5 million in cash to Cheyenne Pipeline LLC. The other 50% interest is owned by an affiliate of Plains All American Pipeline, L.P., who will continue to operate the Cheyenne Pipeline.
The 87-mile crude oil pipeline, which runs from Fort Laramie, Wyoming to Cheyenne, Wyoming, has an 80,000 barrel per day (bpd) capacity. Following the closing of the acquisition, Cheyenne Pipeline LLC and a subsidiary of HollyFrontier Corporation…
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