Welcome to our dedicated page for Holly Energy Partners, L.P. news (Ticker: HEP), a resource for investors and traders seeking the latest updates and insights on Holly Energy Partners, L.P. stock.
Holly Energy Partners, L.P. (HEP) is a prominent player in the energy sector, primarily owning and operating a comprehensive network of petroleum product and crude pipelines, storage tanks, distribution terminals, loading rack facilities, and refinery processing units. These assets are crucial in supporting the refining and marketing operations of HollyFrontier Corporation across a vast geographical area that includes West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho, and Washington.
HEP operates through two main segments: Pipelines and Terminals, and Refinery Processing Units. The Pipelines and Terminals segment includes refined product pipelines that transport various grades of gasoline, distillates such as high- and low-sulfur diesel, jet fuels, and liquefied petroleum gases. Additionally, the segment also encompasses intermediate product pipelines transporting feedstocks and crude oils, as well as oil trunk lines and gathering pipelines delivering crude oil.
As part of its extensive operations, HEP manages 26 main pipelines and crude gathering networks, 10 refined product terminals, a crude terminal, and 31,800 track feet of related infrastructure. This extensive network ensures efficient and reliable transportation and storage solutions for its customers.
Recently, the company has focused on expanding its infrastructure to enhance capacity and efficiency. Current projects aim at modernizing and upgrading existing facilities to meet the growing demand for energy products and to comply with stringent environmental regulations. Financially, HEP maintains a robust balance sheet, reflecting steady revenue streams from long-term contracts and strategic partnerships.
HEP's significant role in the energy supply chain, coupled with its strategic asset base, positions it as a vital entity in the energy market. The company's ongoing efforts to optimize operations and expand its capabilities are likely to drive future growth and shareholder value.
The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has declared a cash distribution of $0.35 per unit for Q1 2023, payable on May 11, 2023, to unitholders of record on May 1, 2023.
HEP will release its Q1 2023 results on May 4, 2023, prior to NYSE trading, followed by a webcast at 8:30 a.m. ET to discuss financial outcomes.
This press release also serves as a qualified notice under tax regulations, informing that all distributions to foreign investors are subject to federal income tax withholding at the highest rate applicable.
Holly Energy Partners provides vital services in petroleum product and crude oil transportation and storage, operating pipelines and terminals across multiple U.S. states.
HF Sinclair Corporation (NYSE:DINO) has announced executive leadership changes alongside the promotion of Tim Go to Chief Executive Officer effective May 9, 2023. Valerie Pompa is now Executive Vice President, Operations, bringing over 30 years of experience from her role at Flint Hills Resources. Steve Ledbetter joins as Executive Vice President, Commercial, previously with Shell for 24 years, while Matt Joyce becomes Senior Vice President, Lubricants & Specialties after a notable tenure at Lubrizol. Tim Go expressed confidence in the leadership team's ability to drive HF Sinclair's operational and commercial growth.
HF Sinclair Corporation (NYSE: DINO) and Holly Energy Partners, L.P. (NYSE: HEP) will announce their quarterly financial results for the period ending March 31, 2023, on May 4, 2023, before NYSE trading opens. A joint webcast conference is scheduled for the same day at 8:30 a.m. Eastern Time to discuss these results. HF Sinclair operates refineries across several states and markets high-value light products, while HEP provides transportation and storage services in the petroleum industry. The webcast will be accessible online, with an audio archive available until May 18, 2023.
Holly Energy Partners, L.P. (NYSE: HEP) and HF Sinclair Corporation (NYSE: DINO) will announce their financial results for the quarter ending March 31, 2023 on May 4, 2023, prior to NYSE trading. A joint webcast is scheduled for 8:30 a.m. Eastern time on the same day to discuss these results. The webcast can be accessed through a provided link, and an audio archive will be available until May 18, 2023. HEP is known for its petroleum transportation and storage services across multiple states, while DINO focuses on producing and marketing high-value fuels and lubricants.
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