Holly Energy Partners Announces Feasibility Study for New Refined Product Pipeline in the Permian Basin
July 24 2018 - 4:15PM
Business Wire
Holly Energy Partners, L.P. (NYSE: HEP) announced today it has
engaged AECOM, a third party engineering firm, to perform a
feasibility study on a potential refined product pipeline from
Orla, TX to Midland, TX. This potential pipeline is part of HEP’s
continuous efforts to serve the growing distillate demand in the
Permian Basin with additional infrastructure projects. The pipeline
would complement HEP’s existing footprint in the Permian Basin and
the recently announced truck loading rack project in Orla, TX.
HEP expects the pipeline to have an initial capacity of 40,000
barrels per day and be in service as early as the third quarter of
2019, subject to receipt of necessary regulatory approvals, permits
and commercial support.
About Holly Energy Partners, L.P.:
Holly Energy Partners, L.P., headquartered in Dallas, Texas,
provides petroleum product and crude oil transportation,
terminalling, storage and throughput services to the petroleum
industry, including HollyFrontier Corporation subsidiaries. The
Partnership, through its subsidiaries and joint ventures, owns
and/or operates petroleum product and crude gathering pipelines,
tankage and terminals in Texas, New Mexico, Arizona, Washington,
Idaho, Oklahoma, Utah, Nevada, Wyoming and Kansas as well as
refinery processing units in Kansas and Utah.
Forward-looking Statement:
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. These statements are
based on our beliefs and assumptions and those of our general
partner using currently available information and expectations as
of the date hereof, are not guarantees of future performance and
involve certain risks and uncertainties. Although we and our
general partner believe that such expectations reflected in such
forward-looking statements are reasonable, neither we nor our
general partner can give assurance that our expectations will prove
to be correct. Therefore, actual outcomes and results could
materially differ from what is expressed, implied or forecast in
these statements. Any differences could be caused by a number of
factors including, but not limited to:
- risks and uncertainties with respect to
the actual quantities of petroleum products and crude oil shipped
on our pipelines and/or terminalled, stored and throughput in our
terminals;
- the economic viability of HollyFrontier
Corporation, Delek US Holdings, Inc. and our other customers;
- the demand for refined petroleum
products in markets we serve;
- our ability to purchase and integrate
future acquired operations;
- our ability to complete previously
announced or contemplated acquisitions;
- the availability and cost of additional
debt and equity financing;
- the possibility of reductions in
production or shutdowns at refineries utilizing our pipeline and
terminal facilities;
- the effects of current and future
government regulations and policies;
- our operational efficiency in carrying
out routine operations and capital construction projects;
- the possibility of terrorist attacks
and the consequences of any such attacks;
- general economic conditions; and
- other financial, operations and legal
risks and uncertainties detailed from time to time in our
Securities and Exchange Commission filings.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180724005944/en/
Holly Energy Partners, L.P.Craig Biery, 214-954-6511Director,
Investor RelationsorJared Harding, 214-954-6511Investor
Relations
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