BRENTWOOD, Tenn. -- Delek US Holdings Inc. has announced that its wholly owned subsidiary, Delek Logistics Partners LP, a Delaware limited partnership, has filed a registration statement with the U.S. Securities & Exchange Commission (SEC) relating to its proposed initial public offering (IPO) of common units representing limited partner interests.
It will make applications to list the common units of Delek Logistics on the New York Stock Exchange under the symbol "DKL."
Delek US Holdings formed Delek Logistics to own, operate, acquire and construct crude oil and refined products logistics and marketing assets. Delek Logistics' initial assets are expected to consist of:
*Approximately 200 miles of transportation pipelines and a 600 mile crude oil gathering system, in addition to associated storage facilities with 1.4 million barrels of active shell capacity supporting Delek US' El Dorado and Tyler refineries.
*The Paline pipeline, a 185 mile crude oil pipeline from Longview to Nederland, Texas.
*Delek US' wholesale marketing business in Texas.
*Five light product terminals, consisting of the Abilene, Big Sandy and San Angelo terminals in Texas and the Nashville and Memphis terminals in Tennessee.
BofA Merrill Lynch and Barclays are acting as joint book-running managers and structuring agents for the proposed offering.
Brentwood, Tenn.-based Delek US Holdings is an integrated downstream energy business focused on petroleum refining, the wholesale distribution of refined products and convenience store retailing. The refining segment consists of refineries operated in Tyler, Texas, and El Dorado, Ark., with a combined nameplate production capacity of 140,000 barrels per day. The marketing and supply segment markets refined products through a series of owned and third-party product terminals and pipelines. The retail segment supplies fuels and merchandise through a network of approximately 375 company-operated c-stores operated under the MAPCO Express, MAPCO Mart, East Coast, Fast Food & Fuel, Favorite Markets, Delta Express and Discount Food Mart brand names.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.