HollyFrontier Corporation (HFC) is an independent petroleum refiner with operations throughout the mid-continent, southwestern and Rocky Mountain regions. The new entity was created on July 1, 2011, when Holly Corporation merged with Frontier Oil Corporation.
Subsidiaries of HollyFrontier Corporation produce and market gasoline, diesel, jet fuel, asphalt, heavy products and specialty lubricant products. The Company operates five refineries with 443,000 barrels per day of crude oil processing capacity. Subsidiaries of HollyFrontier Corporation manufacture and market lubricants, specialty products, asphalt products and other heavy products.
Last but not least HollyFrontier owns a 39% interest, including the 2% general partnership interest, in Holly Energy Partners, L.P. (HEP), a master limited partnership that owns and operates petroleum logistics assets including pipelines, terminals and tankage throughout the mid-continent.
HEP has a long-term strategic relationship with HollyFrontier to pursue purchases of logistic assets at several existing refining locations and work with HollyFrontier on logistic asset acquisitions in conjunction with HollyFrontier’s refinery acquisition strategies. HollyFrontier grants HEP an opportunity to acquire certain types of transportation and distribution assets that are part of any acquisition it makes.
The following illustrates the combined footprint detailing logistics and marketing operations for HFC and HEP:
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