Company:HollyFrontier
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| Type | Public company |
|---|---|
| NYSE: HFC S&P 400 component | |
| Industry | Petroleum industry |
| Founded | 1947 |
| Headquarters | Dallas, Texas , United States |
Key people | Franklin Myers, Chairman Michael C. Jennings, CEO & President Richard L. Voliva III, CFO |
| Products | Gasoline Diesel fuel Jet fuel Lubricants Asphalt |
| Revenue |  $11.183 billion (2020) |
| -$514 million (2020) | |
| Total assets | $11.506 billion (2020) |
| Total equity | $5.168 billion (2020) |
Number of employees | 3,891 (2020) |
| Website | hollyfrontier |
| Footnotes / references [1] | |
HollyFrontier Corporation produces gasoline, diesel fuel, jet fuel, lubricants, and asphalt. It is based in Dallas, Texas.
The company operates four complex oil refineries with a total crude oil processing capacity of 405,000 barrels per stream day. It has facilities in Cheyenne, Wyoming (52,000 barrels per day), El Dorado, Kansas (coking refinery - 135,000 bbl/d), Artesia, New Mexico (100,000 bbl/d), Tulsa, Oklahoma (125,000 bbl/d), Woods Cross, Utah (45,000 bbl/d), and Mississauga (15,600 bbl/d). The company also operates asphalt terminals in Arizona, New Mexico, and Oklahoma.[1]
The company is ranked 279th on the Fortune 500 .[2]
History
The company was incorporated under the name General Appliance Corporation in 1947 and changed its name to Holly Corporation in 1952.[3]
In 2003, Frontier Oil agreed to acquire Holly but Holly later cancelled the merger, leading to litigation.[4]
In 2009, Holly Corporation acquired 2 refineries in Tulsa, Oklahoma: one from Sinclair Oil Corporation for $128 million and one from Sunoco.[5]
In July 2011, Holly Corporation and Frontier Oil merged forming HollyFrontier Corporation.[6][7]
In February 2017, the company acquired Suncor Energy's Petro-Canada Lubricants unit in Mississauga, Ontario, Canada for C$1.125 billion.[8]
In early 2019, HollyFrontier acquired Sonneborn, a manufacturer of food grade white mineral oils and waxes in Petrolia, Pennsylvania, for $655 million.[9]
In June 2020, HollyFrontier announced its Cheyenne refinery will cease processing petroleum, instead shifting production solely to renewable fuel, with the loss of approximately 200 workers.[10]
In May 2021, HollyFrontier agreed to purchase the Shell Anacortes Refinery near Anacortes, Washington (state) , with capacity of 149,000 bbl/d, for $350 million.[11]
In August 2021, HollyFrontier agreed to purchase the assets of Sinclair Oil Corporation, including its two refineries near Casper, Wyoming, and Sinclair, Wyoming, for $2.6 billion.[12] The succeeding company, HF Sinclair Corporation, is expected to finalize the merger mid-2022.
References
- ↑ 1.0 1.1 "HollyFrontier Corporation 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission. https://www.sec.gov/ix?doc=/Archives/edgar/data/48039/000004803921000012/hfc-20201231.htm.
- ↑ "Fortune 500: HollyFrontier Corporation". Fortune. https://fortune.com/company/hollyfrontier/fortune500/.
- ↑ "HollyFrontier Corporation company history". HollyFrontier Corporation. https://hollyfrontier.com/about-us/company-history/default.aspx.
- ↑ "Frontier broke merger contract with Holly, court rules". American City Business Journals. May 2, 2005. https://www.bizjournals.com/houston/stories/2005/05/02/daily6.html.
- ↑ Walton, Rod (October 20, 2009). "Holly Corp. will purchase Tulsa Sinclair refinery". Tulsa World. https://tulsaworld.com/archive/holly-corp-will-purchase-tulsa-sinclair-refinery/article_62ca500e-f018-5394-be2e-556ea9705112.html.
- ↑ "HollyFrontier Corporation Completes Merger" (Press release). PR Newswire. July 1, 2011.
- ↑ Walton, Rod (June 29, 2011). "Oil-refinery corporations Holly, Frontier complete merger". Tulsa World. https://tulsaworld.com/business/oil-refinery-corporations-holly-frontier-complete-merger/article_8d9e43bd-9c6c-55ce-b650-125357db5e24.html.
- ↑ "HollyFrontier Closes Acquisition of Petro-Canada Lubricants Business" (Press release). Business Wire. February 1, 2017. External link in
|publisher=(help) - ↑ "HollyFrontier Closes Acquisition of Sonneborn" (Press release). Business Wire. February 1, 2019. External link in
|publisher=(help) - ↑ https://www.wyomingnews.com/news/local_news/hollyfrontier-announces-plan-to-lay-off-roughly-200-employees-at-cheyenne-refinery/article_e5dad692-d50d-5eb5-a253-d0f35d672d7f.html
- ↑ "HollyFrontier Announces Acquisition of Puget Sound Refinery" (Press release). Business Wire. May 4, 2021. External link in
|publisher=(help) - ↑ https://www.reuters.com/business/energy/hollyfrontier-buy-refining-logistics-assets-sinclair-about-18-bln-deal-2021-08-03/
External links
- Business data for HollyFrontier Corporation:
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