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Holly Energy Partners LP

Company Summary

Description

Holly Energy Partners, L.P. ("HEP") is a Delaware limited partnership formed in early 2004 by HollyFrontier and is headquartered in Dallas, Texas. HEP provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including HollyFrontier Corporation subsidiaries. The Partnership, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude gathering pipelines, tankage and terminals in Texas, New Mexico, Arizona, Washington, Idaho, Oklahoma, Utah, Nevada, Wyoming and Kansas as well as refinery processing units in Kansas and Utah.

Website

http://www.hollyenergy.com/Home/default.aspx

Financial Data:

NYSE:HEP from Google Finance

Tickers:

  • HEP - New York Stock Exchange

Related Entities

Recent news

  • 8/16/2023 - HF Sinclair & Holly... (subscriber access)
  • 4/7/2022 - Holly Energy-Holly... (subscriber access)
  • 4/6/2022 - Holly Energy Plans to... (subscriber access)
  • 8/3/2021 - HollyFrontier & Holly... (subscriber access)
  • 10/1/2020 - Frontier Aspen Pipeline... (subscriber access)

Investor Presentations

  • Holly Energy Partners Investor Presentation May 2022
  • October 2017 IDR Simplification (subscriber access)
  • August 2017 Citi MLP / Midstream Infrastructure Conference (subscriber access)
  • Investor Presentation - December 2016 (subscriber access)
  • Investor Presentation - May 2016 (subscriber access)

Company Transactions

Date: 6/30/2022
Type: Acquisition

BUYERS:
  • HollyFrontier Corporation
  • Holly Energy Partners LP
    • SELLERS:
  • Sinclair Oil Corp
    • DETAILS:

    COST: 2.6 $B

    NOTES:
    HollyFrontier and Holly Energy Partners (HEP) have reached a deal to acquire Sinclair Oil Corp. and Sinclair Transportation Company from The Sinclair Companies (Sinclair). HollyFrontier will combine the assets under a new parent company named HF Sinclair Corporation that will replace HollyFrontier on the NYSE. Upon closing, all shares of Holly will convert on a one-for-one basis into the new entity, after which Sinclair will be granted 60.2 million shares representing 26.75% of company equity. That places the transaction value at $1.8 billion based on July 30, 2021, share prices. HEP will purchase select assets from Sinclair for $758 million, including 21 million HEP common units and $325 million in cash. Sinclair's crude and refined product pipelines assets include 1,200 miles of pipeline, eight product terminals and two crude terminals with 4.5 million barrels of storage. Holly will also acquire Sinclair's stake in the Powder Flats Pipeline, Pioneer Pipeline and UNEV Pipeline.
    REGIONS:
  • Rockies

    • Date: 10/15/2017
    Type: Acquisition

    BUYERS:
  • Holly Energy Partners LP
    • SELLERS:
  • Plains All American Pipeline
  • Frontier Aspen LLC
  • SLC Pipeline LLC
    • ASSETS:
  • Salt Lake City Pipeline
  • Frontier Aspen Pipeline
    • DETAILS:

    COST: 250 $MM

    NOTES:
    Holly Energy Partners reported that it has entered into a deal to acquire the remaining 50% stake in the Frontier Aspen Pipeline and the remaining 75% stake in the SLC Pipeline from affiliates of Plains All American Pipeline.
    REGIONS:
  • Rockies

    • Date: 6/6/2016
    Type: Acquisition

    BUYERS:
  • Holly Energy Partners LP
    • SELLERS:
  • Cheyenne Pipeline LLC
  • Plains All American Pipeline
    • ASSETS:
  • Cheyenne Pipeline
    • DETAILS:

    COST: 42.5 $MM

    VOLUMES: 80 Bbls/d

    NOTES:
    50% interest in the Cheyenne Pipeline
    REGIONS:
  • United States