Profile: HollyFrontier Corp (HFC.N)
22 Oct 2014
HollyFrontier Corporation, incorporated on January 25, 1947, is an independent petroleum refiner that produces refined products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt. The Company operates in two segments: Refining and HEP. The Refining segment includes the operations of the Company’s El Dorado, Tulsa, Navajo, Cheyenne and Woods Cross Refineries, and NK Asphalt, which operates various asphalt terminals in Arizona and New Mexico. The HEP segment involves all of the operations of Holly Energy Partners, L.P. (HEP), a variable interest entity in which the Company owned a 39% interest as of December 31, 2013. The Company owns and operates five refineries having a combined crude oil processing capacity of 443,000 barrels per day that serve markets throughout the Mid-Continent, Southwest and Rocky Mountain regions of the United States.
The Company’s refineries are located in El Dorado, Kansas (the El Dorado Refinery), Tulsa, Oklahoma (the Tulsa Refineries), which comprise two production facilities, the Tulsa West and East facilities, a petroleum refinery in Artesia, New Mexico, which operates in conjunction with crude, vacuum distillation and other facilities situated 65 miles away in Lovington, New Mexico (the Navajo Refinery), Cheyenne, Wyoming (the Cheyenne Refinery) and Woods Cross, Utah (the Woods Cross Refinery). Each of its refineries has the complexity to convert discounted, heavy and sour crude oils into a high percentage of gasoline, diesel and other high-value refined products.
The El Dorado Refinery is a coking refinery with 135,000 barrels per stream day processing capacity and the ability to process volumes of heavy and sour crudes. The Tulsa West and East refinery facilities are both located in Tulsa, Oklahoma. The El Dorado Refinery is located on 1,100 acres south of El Dorado, Kansas and is a integrated refinery. The principal processing units at the El Dorado Refinery consist of crude and vacuum distillation; hydrodesulphurization of naphtha, kerosene, diesel, and gas oil streams; isomerization; catalytic reforming; aromatics recovery; catalytic cracking; alkylation; delayed coking; hydrogen production; and sulfur recovery.
The Tulsa West facility is located on a 750-acre site in Tulsa, Oklahoma situated along the Arkansas River. The principal processing units at the Tulsa West facility consist of crude and vacuum distillation (with light ends recovery), naphtha hydrodesulphurization, catalytic reforming, propane de-asphalting, lubes extraction, MEK dewaxing, delayed coker and butane splitter units. The Tulsa East facility is located on a 466-acre site also in Tulsa, Oklahoma situated along the Arkansas River. The principal process units at the Tulsa East facility consist of crude and vacuum distillation, naphtha hydrodesulphurization, FCC, isomerization, catalytic reforming, alkylation, scanfiner, diesel hydrodesulphurization and sulfur units.
The Navajo Refinery has a crude oil processing capacity of 100,000 barrels per stream day and has the ability to process sour crude oils into high value light products such as gasoline, diesel fuel and jet fuel. The Navajo Refinery's Artesia, New Mexico facility is located on a 561-acre site and is a fully integrated refinery with crude distillation, vacuum distillation, FCC, ROSE (solvent deasphalter), HF alkylation, catalytic reforming, hydrodesulfurization, mild hydrocracking, isomerization, sulfur recovery and product blending units. The Woods Cross Refinery facility is located on a 200-acre site and is a fully integrated refinery with crude distillation, solvent deasphalter, FCC, HF alkylation, catalytic reforming, hydrodesulfurization, isomerization, sulfur recovery and product blending units. The Company owns and operates four miles of hydrogen pipeline that connects the Woods Cross Refinery to a hydrogen plant located on the property of Chevron's Salt Lake City Refinery. Additionally, HEP owns and operates 12 miles of crude oil and refined products pipelines that allows the Company to connect its Woods Cross Refinery to common carrier pipeline systems.
Holly Energy Partners, L.P.
HEP generates revenues by charging tariffs for transporting petroleum products and crude oil through its pipelines, by leasing certain pipeline capacity to Alon, by charging fees for terminal ling refined products and other hydrocarbons and by storing and providing other services at its storage tanks and terminals. As of December 31, 2013, HEP's assets included approximately 810 miles of refined product pipelines, including 340 miles of leased pipelines, that transport gasoline, diesel and jet fuel principally from its Navajo Refinery in New Mexico to its customers in the metropolitan and rural areas of Texas, New Mexico, Arizona, Colorado, Utah and northern Mexico; approximately 510 miles of refined product pipelines that transport refined products from Alon's Big Spring refinery in Texas to its customers in Texas and Oklahoma; three 65-mile pipelines that transport intermediate feedstocks and crude oil from its Navajo Refinery crude oil distillation and vacuum facilities in Lovington, New Mexico to its petroleum refinery facilities in Artesia, New Mexico; approximately 970 miles of crude oil trunk, gathering and connection pipelines located in west Texas, New Mexico and Oklahoma that deliver crude oil to its Navajo Refinery; approximately 10 miles of refined product pipelines that support its Woods Cross Refinery located near Salt Lake City, Utah, and gasoline and diesel connecting pipelines that support its Tulsa East facility. It also includes five intermediate product and gas pipelines between the Tulsa East and Tulsa West facilities, and crude receiving assets located at its Cheyenne Refinery.
Suite 1300, 2828 N. Harwood
DALLAS TX 75201
Company Web Links
- UPDATE 2-HollyFrontier sees higher refining margins in third quarter
- HollyFrontier's profit falls as refining margins slide
- HollyFrontier: Citgo assets would be 'good fit' if it is for sale
- HollyFrontier profit falls 31 pct on lower refining margins
- UPDATE 2-Western Refining, HollyFrontier see margins strengthening