Dallas-based Holly Energy Partners, L.P. has bought a 50% interest in Cheyenne Pipeline LLC in a $42.5 million cash deal.
The remaining 50% interest remains in the hands of Plains All American Pipeline. The 87-mile crude oil pipeline runs from Fort Laramie, Wyoming to Cheyenne, Wyoming and carries 80,000 barrels a day.
Holly Energy already has pipelines, tankage and terminals in Texas, New Mexico, Arizona, Washington, Idaho, Oklahoma, Utah, Wyoming and Kansas as well as a 50% interest in the Osage Pipeline company LLC which owns a 135-mile crude oil pipeline from Cushing, Oklahoma to El Dorado, Kansas.