Holly Energy Partners Announces Quarterly Distribution of $0.35 per LP unit
The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has announced a cash distribution of $0.35 per unit for Q1 2022, payable on May 13, 2022, to unitholders of record by May 2, 2022. The financial results will be disclosed on May 9, 2022, before the NYSE opens, accompanied by a webcast at 8:30 a.m. ET. HEP provides vital transportation and storage services for the petroleum industry across multiple states and operates under HF Sinclair Corporation. The company emphasizes the potential challenges from market uncertainties and ongoing regulations.
- Declaring a cash distribution of $0.35 per unit reflects a steady return to unitholders.
- Scheduled Q1 2022 results announcement may provide insights into ongoing financial stability.
- Risks related to the integration of Sinclair Oil and Sinclair Transportation Company could hinder anticipated synergies.
- Ongoing uncertainties about crude oil demand due to the COVID-19 pandemic may impact future performance.
- Potential litigation risks post-Sinclair Transactions could create financial strain.
HEP plans to announce results for its first quarter of 2022 on
The webcast may be accessed at:
https://events.q4inc.com/attendee/607702822
About
This press release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Please note that one hundred percent (
Forward Looking Statements:
This press release contains various “forward-looking statements” within the meaning of the federal securities laws. These forward-looking statements are identified as any statement that does not relate strictly to historical or current facts. When used in this press release, words such as “anticipate,” “project,” “expect,” “will,” “plan,” “goal,” “forecast,” “strategy,” “intend,” “should,” “would,” “could,” “believe,” “may” and similar expressions and statements regarding our plans and objectives for future operations are intended to identify forward-looking statements. These forward-looking statements are based on our beliefs and assumptions and those of our general partner, using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties, including those contained in or filings with the
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HF Sinclair’s and our ability to successfully integrate the
Sinclair Oil andSinclair Transportation Company businesses acquired fromREH Company (formerly known asThe Sinclair Companies , referred to herein as “Sinclair”) (collectively, the “Sinclair Transactions”) with our existing operations and fully realize the expected synergies of the Sinclair Transactions or on the expected timeline; - risks relating to the value of our limited partner common units issued at the closing of the Sinclair Transactions from sales by the Sinclair holders following the closing of the Sinclair Transactions;
- the cost of litigation against us or HF Sinclair challenging the Sinclair Transactions;
- the demand for and supply of crude oil and refined products, including uncertainty regarding the effects of the continuing COVID-19 pandemic on future demand and increasing societal expectations that companies address climate change;
- risks and uncertainties with respect to the actual quantities of petroleum products and crude oil shipped on our pipelines and/or terminalled, stored or throughput in our terminals and refinery processing units;
- the economic viability of HF Sinclair, our other customers and our joint ventures’ other customers, including any refusal or inability of our or our joint ventures’ customers or counterparties to perform their obligations under their contracts;
- the demand for refined petroleum products in the markets we serve;
- our ability to purchase and integrate future acquired operations;
- our ability to complete previously announced or contemplated acquisitions;
- the availability and cost of additional debt and equity financing;
- the possibility of temporary or permanent reductions in production or shutdowns at refineries utilizing our pipelines, terminal facilities and refinery processing units, due to reasons such as infection in the workforce, in response to reductions in demand or lower gross margins due to the economic impact of the COVID-19 pandemic, and any potential asset impairments resulting from such actions;
- the effects of current and future government regulations and policies, including the effects of current and future restrictions on various commercial and economic activities in response to the COVID-19 pandemic;
- delay by government authorities in issuing permits necessary for our business or our capital projects;
- our and our joint venture partners’ ability to complete and maintain operational efficiency in carrying out routine operations and capital construction projects;
- the possibility of terrorist or cyberattacks and the consequences of any such attacks;
- uncertainty regarding the effects and duration of global hostilities and any associated military campaigns which may disrupt crude oil supplies and markets for refined products and create instability in the financial markets that could restrict our ability to raise capital;
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general economic conditions, including uncertainty regarding the timing, pace and extent of an economic recovery in
the United States ; - the impact of recent or proposed changes in the tax laws and regulations that affect master limited partnerships; and
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other financial, operational and legal risks and uncertainties detailed from time to time in our filings with the
U.S. Securities and Exchange Commission .
The forward-looking statements speak only as of the date made and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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Vice President, Investor Relations
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Manager, Investor Relations
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FAQ
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