Press Release

Morgan Lewis Advises HollyFrontier in Acquisition of Puget Sound Refinery

May 04, 2021

PHILADELPHIA, May 4, 2021: Morgan Lewis advised HollyFrontier Corporation in its agreement to acquire the Puget Sound Refinery and related logistics assets from Equilon Enterprises LLC d/b/a Shell Oil Products US for a purchase price of $350 million, plus hydrocarbon inventory to be valued at closing with an estimated current value in the range of $150 million to $180 million.

HollyFrontier, headquartered in Dallas, is an independent petroleum refiner and marketer that produces high-value light products such as gasoline, diesel fuel, jet fuel, and other specialty products. The Puget Sound Refinery is a large, high-quality, and complex refinery with catalytic cracking and delayed coking units, strategically located on approximately 850 acres in Anacortes, Washington.

Morgan Lewis corporate partner Benjamin Wills and associate Conor Larkin are representing HollyFrontier, along with environmental senior counsel Judith Walkoff and of counsel Jeffrey Hurwitz, corporate partner Doneld Shelkey and associate Lindsay Mozdziock, real estate of counsel Eric Marcuson, employee benefits partner Erin Randolph-Williams and associate Samuel Bryant, and IP partner Anita Polott.