Late last week, Sunoco Logistics Partners LP (SXL) reported that it has closed the acquisition of Excel Pipeline LLC, which owns the 52-mile Excel crude oil pipeline running from Duncan to a refinery in Wynnewood, both in Oklahoma. Sunoco Logistics purchased Excel from affiliates of Gary-Williams Energy Corp., which runs the Wynnewood refinery.

Sunoco Logistics has operated the Excel pipeline on behalf of Gary-Williams since 2007. As part of the transaction, Gary-Williams has entered into a 20-year throughput agreement to use the pipeline’s capacity.

Sunoco Logistics did not disclose the value of the Excel deal but expects the transaction to be immediately accretive and to add value to the partnership’s business, while extending its long-term relationship with Gary-Williams.

Philadelphia-based Sunoco Logistics Partners L.P. is a master limited partnership [MLP] that acquires, owns, and operates a geographically diverse portfolio of refined product and crude oil pipelines and terminal facilities. Its facilities are located in 13 states in the Northeast, the Midwest and the Southwest of the country. The partnership is 40% owned by oil refiner Sunoco Inc. (SUN).

We currently rate Sunoco Logistics units as Neutral.

Zacks Investment Research
View original at: Zacks.com News Feed

1. (SUN) Oil Refiner Sunoco Sells Fuel Distribution BusinessYesterday, oil refiner and marketer Sunoco Inc. (SUN) announced the sale of certain assets of...
2. (ETP) Energy Transfer Partners Completes Texas PipelineYesterday, Energy Transfer Partners, L.P. (ETP) reported that it has completed the 160-mile Texas Independence...
3. (SXL) Sunoco Logistics Enters Oversold Territory – Zacks Tale of the TapeSunoco Logistics Partners LP’s (SXL) share price has entered into oversold territory with a stochastic...
4. (SXL) Sunoco Logistics Partners LP – Momentum – Zacks Rank BuySunoco Logistics Partners LP (SXL) has been on a very nice rally for the last...
5. (EPB) El Paso Pipeline Partners L.P. – Value – Zacks Rank BuyEl Paso Pipeline Partners L.P. (EPB), a limited partnership that operates natural gas transportation pipelines...
6. (EPB) El Paso Pipeline Partners L.P – distribution increase continues our history of raising full quarter distributionsEl Paso Pipeline Partners L.P. (EPB), which operates natural gas pipelines Incorporatedreased its cash distribution...

Search Posts by Tag: SUN | Sunoco Inc. | Sunoco Logistics Partners LP | SXL | Featured

RSS Feeds by Tag: SUN | Sunoco Inc. | Sunoco Logistics Partners LP | SXL | Featured |

Other Posts by: vitalstocks | RSS Feed for this author