Sunoco Logistics (NYSE:SXL)
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From Dec 2019 to Dec 2024
PHILADELPHIA, Sept. 10 /PRNewswire-FirstCall/ -- Sunoco Logistics Partners L.P. (NYSE:SXL) (the "Partnership") announced today that it has completed the acquisition of Excel Pipeline LLC, the owner of the 52-mile crude oil Excel pipeline, from affiliates of Gary-Williams Energy Corporation.
The Excel Pipeline system originates in Duncan, OK and delivers crude oil to Gary-Williams' Wynnewood, OK refinery. The Partnership has operated the pipeline for Gary-Williams since 2007. In connection with the transaction, Gary-Williams has entered into a 20-year Throughput and Deficiency Agreement. The transaction is expected to be immediately accretive.
"Our crude oil business investment platform has grown significantly over the last few years," said Debbie Fretz, President and CEO. "The addition of the Excel pipeline will add value to our business and extend our long-term relationship with Gary-Williams."
Sunoco Logistics Partners L.P. (NYSE:SXL), headquartered in Philadelphia, is a master limited partnership formed to acquire, own and operate refined product and crude oil pipelines and terminal facilities. The Refined Products Pipeline System consists of approximately 2,200 miles of refined product pipelines located in the Northeastern and Midwestern United States, the recently acquired MagTex Pipeline System, and interests in four refined products pipelines, consisting of a 9.4 percent interest in Explorer Pipeline Company, a 31.5 percent interest in Wolverine Pipe Line Company, a 12.3 percent interest in West Shore Pipe Line Company and a 14.0 percent interest in Yellowstone Pipe Line Company. The Terminal Facilities consist of approximately 10.0 million shell barrels of refined products terminal capacity and approximately 21.2 million shell barrels of crude oil terminal capacity (including approximately 17.8 million shell barrels of capacity at the Texas Gulf Coast Nederland Terminal). The Crude Oil Pipeline System consists of approximately 3,800 miles of crude oil pipelines, located principally in Oklahoma and Texas, a 55.3 percent interest in Mid-Valley Pipeline Company, a 43.8 percent interest in the West Texas Gulf Pipe Line Company and a 37.0 percent interest in the Mesa Pipe Line System. For additional information visit Sunoco Logistics' web site at http://www.sunocologistics.com/.
DATASOURCE: Sunoco Logistics Partners L.P.
CONTACT: Thomas Golembeski (media), +1-215-977-6298, or Neal Murphy
(investors), +1-866-248-4344
Web Site: http://www.sunocologistics.com/