Plains All American Pipeline Acquires Certain Holly Assets

Plains All American Pipeline L.P. has acquired pipelines, a manifold system and 400,000 barrels of crude oil storage capacity from Holly Corp. for $40 million.

The assets purchased include six tanks, three receiving pipelines and related assets and contract rights located at or associated with Holly’s Tulsa, OK refinery. In conjunction with the sale, Holly entered a 15-year tank lease and minimum throughput agreement (with options to extend).