By OGJ editors
HOUSTON, Aug. 26 -- Holly Corp., Dallas, has sold its retail assets in Utah and Wyoming to the privately held McKee Oil Co., Mount Olive, NC. Terms of the deal were withheld.
Holly said the deal included 25 operating retail sites and three closed properties that Holly acquired from ConocoPhillips on June 1. Holly will continue to supply the stations with fuel from its refinery in Woods Cross, Utah. That refinery has a 25,000 b/d capacity.
The company also operates a refinery in Artesia, NM. The refinery has a 60,000 b/d capacity and is being expanded to 75,000 b/d. In addition, Holly operates a refinery in Great Falls, Mont., which has a 7,500 b/d capacity.
Holly also owns, leases, or operates 2,000 miles of crude oil and refined product pipelines in West Texas and New Mexico and refined product terminals in several states.
Last week, Frontier Oil Corp., Houston, sued Holly regarding a $450 million merger agreement announced in March in which Holly agreed to be acquired by Frontier (OGJ Online, Aug. 26, 2003).
Rystad Energy.
