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HollyFrontier Corporation

Company Summary

Website

http://www.hollyfrontier.com/

Financial Data:

NYSE:HFC from Google Finance

Tickers:

  • HFC - New York Stock Exchange

Related Entities

Recent news

  • 11/2/2021 - Shell Closes on... (subscriber access)
  • 8/3/2021 - HollyFrontier & Holly... (subscriber access)
  • 5/5/2021 - Shell Divesting Puget... (subscriber access)
  • 3/20/2020 - US Refiners Send Home... (subscriber access)
  • 11/18/2019 - HollyFrontier to... (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: 11/1/2021
    Type: Acquisition

    BUYERS:
  • HollyFrontier Corporation
    • SELLERS:
  • Shell plc.
  • Shell Oil Products US
    • ASSETS:
  • Puget Sound Refinery
    • DETAILS:

    COST: 616 $MM

    VOLUMES: 149 MBOE/d

    NOTES:
    Shell is selling off its Puget Sound Refinery to HollyFrontier Corp. for $350 million in cash plus the value of the hydrocarbon inventory on site (estimated between $150-$180 million.)
    REGIONS:
  • Pacific Northwest

    • Date: 2/1/2019
    Type: Acquisition

    BUYERS:
  • HollyFrontier Corporation
    • SELLERS:
  • Sonneborn
    • DETAILS:

    COST: 655 $MM

    NOTES:
    HollyFrontier Corporation entered into an agreement to acquire Sonneborn US Holdings Inc. and Sonneborn Coӧperatief U.A. (collectively “Sonneborn”) for $655 million, including working capital with an estimated value of $72 million. Sonneborn strengthens HollyFrontier's global footprint by increasing processing and blending capabilities in North America and Europe and complements the Company's existing lubricants and specialty products business. This transaction is expected to close in 2019.

    Date: 9/30/2018
    Type: Acquisition

    BUYERS:
  • HollyFrontier Corporation
    • SELLERS:
  • Red Giant Oil Company
    • DETAILS:
    NOTES:
    HollyFrontier has entered into a deal to acquire Red Giant Oil Company.
    REGIONS:
  • Rockies

    • Date: 2/1/2017
    Type: Acquisition

    BUYERS:
  • HollyFrontier Corporation
    • SELLERS:
  • Suncor Energy Inc.
  • Petro-Canada Lubricants
    • DETAILS:

    COST: 1.125 $B

    REGIONS:
  • Canada