M&A Deal Summary

HF Sinclair Acquires Shell Puget Sound Refinery

On May 4, 2021, HF Sinclair acquired oil/gas exploration company Shell Puget Sound Refinery from Shell Oil for 350M USD

Acquisition Highlights
  • This is HF Sinclair’s 2nd transaction in the Oil/Gas Exploration sector.
  • This is HF Sinclair’s 4th largest (disclosed) transaction.
  • This is HF Sinclair’s 2nd transaction in the United States.
  • This is HF Sinclair’s 1st transaction in Washington.

M&A Deal Summary
Date 2021-05-04
Target Shell Puget Sound Refinery
Sector Oil/Gas Exploration
Buyer(s) HF Sinclair
Sellers(s) Shell Oil
Deal Type Divestiture
Deal Value 350M USD

Target

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.

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Buyer(S) 1

Buyer

HF Sinclair

Dallas, Texas, United States
Category Company
Sector Oil/Gas Exploration
Employees5,218
Revenue 32.0B USD (2023)
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 is based in Dallas, Texas.

DEAL STATS #
Overall 3 of 5
Sector (Oil/Gas Exploration) 2 of 3
Type (Divestiture) 2 of 2
State (Washington) 1 of 1
Country (United States) 2 of 4
Year (2021) 1 of 2
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-13 Sonneborn

Parsippany, New Jersey, United States

Sonneborn LLC is a provider of white oils, petrolatums, waxes, and other hydrocarbon specialty products such as creams and lotions, cosmetics, and pharmaceutical ointments. Sonneborn is based in Parsippany, New Jersey.

Buy $655M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-03 Sinclair Oil

Salt Lake City, Utah, United States

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.

Buy $1.8B

Seller(S) 1

SELLER

Shell Oil

Houston, Texas, United States
Category Company
Founded 1922
Sector Oil/Gas Exploration
DESCRIPTION

Shell is a global group of energy and petrochemical companies.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Washington) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
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