Holly Energy Partners Announces Quarterly Distribution of $0.35 per LP unit
21 Juli 2022 - 10:15PM
Business Wire
The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP)
has declared a cash distribution of $0.35 per unit for the second
quarter of 2022. The distribution will be paid on August 12, 2022
to unitholders of record on August 1, 2022.
HEP plans to announce results for its second quarter of 2022 on
August 8, 2022 before the opening of trading on the NYSE and has
scheduled a webcast conference on August 8, 2022 at 8:30 a.m.
Eastern time to discuss financial results.
The webcast may be accessed at:
https://events.q4inc.com/attendee/167295545
About Holly Energy Partners, L.P.:
Holly Energy Partners, L.P., headquartered in Dallas, Texas,
provides petroleum product and crude oil transportation,
terminalling, storage and throughput services to the petroleum
industry, including subsidiaries of HF Sinclair Corporation. HEP,
through its subsidiaries and joint ventures, owns and/or operates
petroleum product and crude pipelines, tankage and terminals in
Colorado, Idaho, Iowa, Kansas, Missouri, Nevada, New Mexico,
Oklahoma, Texas, Utah, Washington and Wyoming, as well as refinery
processing units in Kansas and Utah.
This press release is intended to be a qualified notice under
Treasury Regulation Section 1.1446-4(b). Please note that one
hundred percent (100.0%) of HEP’s distributions to foreign
investors are attributable to income that is effectively connected
with a United States trade or business. Accordingly, HEP’s
distributions to foreign investors are subject to federal income
tax withholding at the highest applicable effective tax rate.
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 our
filings with the Securities and Exchange Commission. Although we
and our general partner believe that such expectations reflected in
such forward-looking statements are reasonable, neither we nor our
general partner can give assurance that our expectations will prove
to be correct. All statements concerning our expectations for
future results of operations are based on forecasts for our
existing operations and do not include the potential impact of any
future acquisitions. Our forward-looking statements are subject to
a variety of risks, uncertainties and assumptions. If one or more
of these risks or uncertainties materialize, or if underlying
assumptions prove incorrect, our actual results may vary materially
from those anticipated, estimated, projected or expected. Certain
factors could cause actual results to differ materially from
results anticipated in the forward-looking statements. These
factors include, but are not limited to:
- HF Sinclair Corporation’s (“HF Sinclair”) and our ability to
successfully integrate the Sinclair Oil Corporation (now known as
Sinclair Oil LLC) and Sinclair Transportation Company LLC
businesses acquired from The Sinclair Companies (now known as REH
Company) (collectively, the “Sinclair Transactions”) with our
existing operations and fully realize the expected synergies of the
Sinclair Transactions or on the expected timeline;
- 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;
- 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
- 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220721005967/en/
Holly Energy Partners, L.P. Craig Biery, 214-954-6511 Vice
President, Investor Relations or Trey Schonter, 214-954-6511
Manager, Investor Relations
Holly Energy Partners (NYSE:HEP)
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