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Holly Energy closes $39.5M deal for Okla. crude oil tankage from Plains affiliate

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Holly Energy closes $39.5M deal for Okla. crude oil tankage from Plains affiliate

hasclosed its acquisition of crude oil tankage at 's Tulsa, Okla.,refinery from a Plains AllAmerican Pipeline LP affiliate for $39.5 million in cash, effectiveMarch 31.

Theacquisition is anticipated to yield minimum annual revenue of $6.1 million inthe first year and will be immediately accretive, according to the news release.

Holly EnergyPartners and HollyFrontier intend to enter into a 10-year throughput agreementin connection to the transaction. The agreement involves minimum quarterlyvolume commitments from HollyFrontier, the partnership said in the release.