M&A Deal Summary

HF Sinclair and Holly Energy Acquire Sinclair Oil

On August 3, 2021, HF Sinclair and Holly Energy acquired oil/gas exploration company Sinclair Oil for 1.8B USD

Acquisition Highlights
  • This is HF Sinclair’s 3rd and Holly Energy’s 2nd transaction in the Oil/Gas Exploration sector.
  • This is HF Sinclair’s and Holly Energy’s largest (disclosed) transaction.
  • This is HF Sinclair’s 3rd and Holly Energy’s 3rd transaction in the United States.
  • This is HF Sinclair’s 1st and Holly Energy’s 1st transaction in Utah.

M&A Deal Summary
Date 2021-08-03
Target Sinclair Oil
Sector Oil/Gas Exploration
Buyer(s) HF Sinclair
Holly Energy
Deal Type Add-on Acquisition
Deal Value 1.8B USD

Target

Sinclair Oil

Salt Lake City, Utah, United States
website
Sinclair branded self-service fueling station on Highway 61 in Northern Minnesota.
Sinclair branded self-service fueling station on Highway 61 in Northern Minnesota.
Sinclair Oil is a vertically integrated oil company involved in all aspects of our industry – from oil and gas exploration to motor fuel distribution. Sinclair Oil has executive offices in Salt Lake City, Utah; two refineries in Wyoming; and over 1,600 branded Sinclair stations in 29 states.

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Buyer(S) 2

Buyer

HF Sinclair

Dallas, Texas, United States

website

Category Company
Sector Oil/Gas Exploration
Employees5,223
Revenue 38.2B USD (2022)
DESCRIPTION

HF Sinclair is an independent energy company that produces and markets high-value light products such as gasoline, diesel fuel, jet fuel, renewable diesel and other specialty products. HF Sinclair owns and operates refineries located in Kansas, Oklahoma, New Mexico, Wyoming, Washington and Utah and markets its refined products in 19 states principally in the Southwest U.S., the Rocky Mountains extending into the Pacific Northwest and in other neighboring Plains states. HF Sinclair supplies high-quality fuels to more than 1,300 Sinclair branded stations and licenses the use of the Sinclair brand at more than 300 additional locations throughout the country.

DEAL STATS #
Overall 4 of 4
Sector (Oil/Gas Exploration) 3 of 3
Type (Add-on Acquisition) 2 of 2
State (Utah) 1 of 1
Country (United States) 3 of 3
Year (2021) 2 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-04 Shell Puget Sound Refinery

Anacortes, Washington, United States

Shell Puget Sound Refinery is an on-site cogeneration facility that produces oil 149,000 barrels per day. Shell Puget Sound Refinery part of Washington’s Skagit County community where generations of area residents have found jobs, built careers, supported families, and strengthened their communities. PSR’s more than 600 employees and contractors work in a safe and environmentally responsible way to deliver the fuel that powers community and economic life in the Pacific Northwest. Shell Puget Sound Refinery is based in Anacortes, Washington.

Buy $350M
Buyer

Holly Energy

Dallas,, Texas, United States

website

Category Company
Founded 2004
Sector Energy Services and Equipment
Revenue 547M USD (2022)
DESCRIPTION

Holly Energy is a provider of petroleum product and crude oil transportation, tankage and terminal services to the petroleum industry. Holly Energy was founded in 2004 and is based in Dallas, Texas.

DEAL STATS #
Overall 3 of 3
Sector (Oil/Gas Exploration) 2 of 2
Type (Add-on Acquisition) 1 of 1
State (Utah) 1 of 1
Country (United States) 3 of 3
Year (2021) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-28 UNEV Pipeline

Artesia,, New Mexico, United States

UNEV Pipeline is the owner of an approximate 400 mile, 12-inch refined products pipeline currently running from Woods Cross, Utah to Las Vegas, Nevada, related products terminals near Cedar City, Utah and Las Vegas, Nevada and other related assets.

Buy -
Mergr

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