Holly Energy Partners on Tuesday announced it has acquired 50% interest in the Cheyenne Pipeline LLC, owner of Cheyenne Pipeline, in exchange for $42.5 million. The other 50% interest is owned by an affiliate of Plains All American Pipeline, who will continue to operate the Cheyenne Pipeline.
The crude oil pipeline runs for 87 miles from Fort Laramie, Wyoming to Cheyenne, Wyoming and has an 80,000 bpd capacity.
Following the acquisition, Cheyenne and a subsidiary of HollyFrontier Corporation put into effect a long-term extension and increase of HollyFrontier’s minimum volume commitment on the pipeline.
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Holly Energy Partners