Holly buys Tulsa tanks

04.04.16. Holly Energy Partners, LP has acquired crude oil tankage located at HollyFrontier Corporation’s Tulsa refinery from an affiliate of Plains All American Pipeline for US$39.5 million in cash.
Both HollyFrontier and Holly Energy expect to enter into a 10 year throughput agreement with minimum quarterly volume commitments from HollyFrontier. Holly Energy expects the acquisition will generate minimum annual revenue of $6.1 million in the first year and will be immediately accretive to earnings.