Holly Corporation and Holly Energy Partners L.P. Announce Completion of Previously Announced Acquisition of Sinclair's Tulsa Ref
01 Décembre 2009 - 11:59PM
PR Newswire (US)
DALLAS, Dec. 1 /PRNewswire-FirstCall/ -- Holly Corporation
(NYSE:HOC) and Holly Energy Partners L.P. (NYSE:HEP) announced
today that Holly Refining & Marketing - Tulsa LLC, a subsidiary
of Holly Corporation, and HEP Tulsa LLC, a subsidiary of Holly
Energy have completed their respective transactions to purchase
Sinclair's 75,000 barrel per day Tulsa refinery, tankage, and
loading racks, as originally announced on October 20, 2009. About
Holly Corporation Holly Corporation, headquartered in Dallas,
Texas, is an independent petroleum refiner and marketer that
produces high value light products such as gasoline, diesel fuel,
jet fuel and other high value specialty products. Holly operates
through its subsidiaries a 100,000 barrels per stream day ("bpsd")
refinery located in Artesia, New Mexico, a 125,000 bpsd refinery in
Tulsa, Oklahoma and a 31,000 bpsd refinery in Woods Cross, Utah. A
subsidiary of Holly also owns a 34% interest (including the general
partner interest) in Holly Energy Partners, L.P. About Holly Energy
Partners, L.P. Holly Energy Partners, L.P., headquartered in
Dallas, Texas, provides petroleum product and crude oil
transportation, tankage and terminal services to the petroleum
industry, including Holly Corporation, which currently owns a 34%
interest in Holly Energy Partners (including the general partner
interest). Holly Energy Partners owns and operates petroleum
product and crude pipelines, tankage and terminals located in
Texas, New Mexico, Arizona, Washington, Idaho, Utah and Oklahoma.
In addition, Holly Energy Partners owns a 25% interest in SLC
Pipeline LLC, a transporter of crude oil in the Salt Lake City
area. The following is a "safe harbor" statement under the Private
Securities Litigation Reform Act of 1995: The statements in this
press release relating to matters that are not historical facts are
"forward-looking statements" within the meaning of the federal
securities laws, including, but not limited to, statements
identified by the words, "expect," "anticipate," "believe," "plan,"
"intend," "will," and "forecast," and similar expressions and
statements regarding our business strategy, plans and objectives
for future operations. These statements are based on our beliefs
and assumptions using currently available information and
expectations as of the date hereof, are not guarantees of future
events or performance and involve certain risks and uncertainties.
Important factors that could cause our actual results to differ
materially from the expectations reflected in our forward-looking
statements include our ability to complete and integrate announced
acquisitions, and those additional risks contained in our filings
made from time to time with the Securities and Exchange Commission.
Although we believe that the expectations reflected in these
forward-looking statements are reasonable, we cannot assure you
that our expectations will prove correct. Therefore, actual
outcomes and results could materially differ from what is
expressed, implied or forecast in these statements. The
forward-looking statements speak only as of the date made and,
other than as required by law, we undertake no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
DATASOURCE: Holly Corporation; Holly Energy Partners, L.P. CONTACT:
Bruce R. Shaw, Senior Vice President & CFO, or M. Neale
Hickerson, Vice President, Investor Relations, both of Holly
Corporation Web Site: http://www.hollycorp.com/
http://www.hollyenergy.com/
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