HollyFrontier Corporation (NYSE: HFC) has completed its acquisition of the Puget Sound Refinery, the on-site cogeneration facility and related logistics assets, from Equilon Enterprises LLC.
The Puget Sound Refinery is located 80 miles north of Seattle and produces 149,000 barrels per day. The facility is a large, high quality, complex refinery with catalytic cracking and delayed coking units. The refinery is positioned to source the Canadian and Alaskan North Slope crudes.
“The Puget Sound Refinery has a strong record of financial and operational performance that we believe will complement our existing refining business,” stated Mike Jennings, president of HollyFrontier. “The refinery supplies transportation fuels into the premium Pacific Northwest region and sources advantaged Canadian crude, further enhancing our refining asset base. We are committed to the continued safe and environmentally responsible operations of the facility and welcome Puget Sound’s highly skilled workforce to the HollyFrontier family.”
HollyFrontier was represented by Morgan Lewis & Bockius LLP, Wachtell, Lipton, Rosen & Katz and Marten Law LLP on this transaction.