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Holly Energy Partners

#3695

Rank

$2.24B

Marketcap

US United States

Country

Holly Energy Partners
Leadership team

Mr. Michael C. Jennings (Pres, Chairman & CEO of Holly Logistic Services LLC)

Mr. John Wayne Harrison Jr. (Sr. VP, CFO & Treasurer of Holly Logistic Services LLC)

Ms. Vaishali S. Bhatia (Sr. VP, Gen. Counsel & Sec. of Holly Logistic Services LLC)

Products/ Services
Oil and Gas
Headquarters
Dallas, Texas, United States
Established
2004
Company Registration
SEC CIK number: 0001283140
Net Income
100M - 500M
Revenue
500M - 1B
Traded as
HEP
Social Media
Overview
Location
Summary
Holly Energy Partners, L.P. provides petroleum product and crude oil transportation, terminalling, storage, and throughput services to the petroleum industry in the United States. It operates through two segments, Pipelines and Terminals, and Refinery Processing Unit. The company operates refined product pipelines that transport conventional gasolines, reformulated gasolines, and low-octane gasolines for oxygenate blending, as well as sulfur diesel and jet fuels, and liquefied petroleum gases; intermediate product pipelines that transport intermediate feedstocks and crude oils; and oil trunk, gathering, and connection pipelines that delivers crude oil. It operates 26 main pipelines; crude gathering networks; 10 refined product terminals; 1 crude terminal; 1 lube terminal; 31,800 track feet of rail storage; 7 locations with truck and/or rail racks; and tankages at 6 refining facility locations, as well as five refinery processing units. The company was incorporated in 2004 and is based in Dallas, Texas.
History

The company was incorporated under the name General Appliance Corporation in 1947 and changed its name to Holly Corporation in 1952.In 2003, Frontier Oil agreed to acquire Holly but Holly later cancelled the merger, leading to litigation.In 2009, Holly Corporation acquired 2 refineries in Tulsa, Oklahoma: one from Sinclair Oil Corporation for $128 million and one from Sunoco.In July 2011, Holly Corporation and Frontier Oil merged forming HollyFrontier Corporation.In February 2017, the company acquired Suncor Energy's Petro-Canada Lubricants unit in Mississauga, Ontario, Canada for C$1.125 billion.In early 2019, HollyFrontier acquired Sonneborn, a manufacturer of food grade white mineral oils and waxes in Petrolia, Pennsylvania, for $655 million.In June 2020, HollyFrontier announced its Cheyenne refinery will cease processing petroleum, instead shifting production solely to renewable fuel, with the loss of approximately 200 workers.In May 2021, HollyFrontier agreed to purchase the Shell Anacortes Refinery near Anacortes, Washington, with capacity of 149,000 bbl/d, for $350 million.In August 2021, HollyFrontier agreed to purchase the assets of Sinclair Oil Corporation, including its two refineries near Casper, Wyoming, and Sinclair, Wyoming, for $2.6 billion. The succeeding company, HF Sinclair Corporation, is expected to finalize the merger mid-2022.In March 14, 2022, HollyFrontier and Holly Energy Partners announced the completion of transactions with The Sinclair Companies and the establishment of the new parent company, HF Sinclair Corporation .In July 2022 HF Sinclair laid off approximately 97 people in the Sinclair, Wyoming refinery.

Mission
Holly Energy Partners’ mission is to be a premier provider of midstream services in the Western and Midwestern regions of the United States.
Vision
Holly Energy Partners’ vision is to be the market leader in quality, reliability, and safety of our services and the partner of choice for customers, suppliers and stakeholders.
Key Team

Mr. Mark T. Cunningham (Consultant of Holly Logistic Services, LLC)

Trey Schonter (Exec. of Investor Relations)

Mr. Craig Biery (VP of Investor Relations)

Jared Harding (Investor Relations Officer)

Mr. Kenneth P. Norwood (VP & Controller of Holly Logistic Services LLC)

Recognition and Awards
Holly Energy Partners has won a number of awards for its performance in the energy industry, including being named 2015 Midstream Company of the Year by Platts Global Energy Awards. The company has also won numerous awards from the Occupational Safety and Health Administration and the Occupational Excellence Awards from the American Petroleum Institute.
References

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Holly Energy Partners
Leadership team

Mr. Michael C. Jennings (Pres, Chairman & CEO of Holly Logistic Services LLC)

Mr. John Wayne Harrison Jr. (Sr. VP, CFO & Treasurer of Holly Logistic Services LLC)

Ms. Vaishali S. Bhatia (Sr. VP, Gen. Counsel & Sec. of Holly Logistic Services LLC)

Products/ Services
Oil and Gas
Headquarters
Dallas, Texas, United States
Established
2004
Company Registration
SEC CIK number: 0001283140
Net Income
100M - 500M
Revenue
500M - 1B
Traded as
HEP
Social Media