Holly Energy Partners LP and Holly Corp, Dallas TX, have announced a definitive agreement for the acquisition by Holly Energy from Holly of certain pipeline and tankage assets for approximately $180 million, according to the companies' information.
In connection with the closing of the proposed transaction, Holly and Holly Energy will enter into a 15-year pipelines and tankage agreement. The assets in the acquisition include cross refinery complexes with approximately 600,000 barrels per day of storage capacity and a jet fuel pipeline and terminal.