Marten Law Advises HollyFrontier in Acquisition of Puget Sound Refinery
Seattle, WA (May 6, 2021): Marten Law advised HollyFrontier Corporation in its agreement to acquire the Puget Sound Refinery and related logistics assets from Equilon Enterprises LLC d/b/a Shell Oil Products US for a purchase price of $350 million, plus hydrocarbon inventory to be valued at closing with an estimated current value in the range of $150 million to $180 million.
HollyFrontier Corporation, headquartered in Dallas, Texas, is an independent petroleum refiner and marketer that produces high value light products such as gasoline, diesel fuel, jet fuel and other specialty products. The Puget Sound Refinery is strategically located on approximately 850 acres in Anacortes, Washington, approximately 80 miles north of Seattle and 90 miles south of Vancouver. The 149,000 barrel per day facility is a large, high quality and complex refinery with catalytic cracking and delayed coking units and is well positioned geographically and logistically to source advantaged Canadian and Alaskan North Slope (“ANS”) crudes.
For more information on the acquisition, please see HollyFrontier's press release.