Holly Energy acquires interest in Cheyenne pipeline
Published by Stephanie Roker,
Editor
World Pipelines,
Holly Energy Partners, L.P. (Holly Energy) announces the acquisition of a 50% interest in Cheyenne Pipeline LLC, owner of the Cheyenne pipeline, in exchange for a contribution of US$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. (Plains), 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 bpd capacity.
Following the closing of the acquisition, Cheyenne Pipeline LLC and a subsidiary of HollyFrontier Corporation (HollyFrontier) executed a long-term extension and increase of HollyFrontier’s minimum volume commitment on the Cheyenne pipeline.
Edited from source by Stephanie Roker
Read the article online at: https://www.worldpipelines.com/business-news/07062016/holly-energy-acquires-interest-in-cheyenne-pipeline/
You might also like
The World Pipelines Podcast
Juan Caballero, Chair of the AMPP Board of Directors, talks about AMPP’s global efforts to prevent corrosion and to protect assets, offering insight into how the association listens to its members and serves the pipeline industry.
Listen for free today at www.worldpipelines.com/podcasts or subscribe and review on your favourite podcast app.
UK announces £9.4 billion in funding secured for carbon capture projects
The UK Government has backed two major Carbon Capture projects in Aberdeenshire and the Humber.
